South Korea’s bid to overhaul corporate governance faces key enforcement hurdles



Analysis South Korea’s bid to overhaul corporate governance faces key enforcement hurdles Proposed changes aim to protect minority shareholders, but limited scope and voluntary compliance may dilute impact John LeeDecember 2, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON An illustration of corporate buildings casting long shadows \| Image: Korea Pro South Korea’s Financial Services Commission (FSC) has proposed amendments to the Capital Market Act to improve corporate governance and protect minority shareholders. However, questions remain about whether these changes can meaningfully address systemic issues in the country’s chaebol-dominated economy and if they align with international governance standards. South Korea’s Financial Services Commission (FSC) has proposed amendments to the Capital Market Act to improve corporate governance and protect minority shareholders. However, questions remain about whether these changes can meaningfully address systemic issues in the country’s chaebol-dominated economy and if they align with international governance standards. Get 30 days of free access to KoreaPro Full access to all analysis The KOREA PRO newsletter, every business day Daily analysis on the top story of the day The ability to suggest topics for coverage by our specialist team Be smart about South Korea Get full access to expert analysis and opinion. Start now No charges during your trial. Cancel anytime. A paid subscription will start after 30 days. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Briefing Start your day with the South Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily Briefing. LATEST ANALYSIS 01Ukraine’s arms request puts South Korea in a diplomatic and logistical dilemma 02South Korea’s bid to overhaul corporate governance faces key enforcement hurdles 03Yoon and South Korea’s opposition pivot on policy, eyeing political center 04South Korea leverages climate deals abroad but faces environmental scrutiny 05Why South Korea’s ambitious plan to phase out coal faces serious headwinds 06South Korea-Japan dispute over Sado mine casts shadow over bilateral ties 07Seeking new markets, South Korea sets sights on defense deals with Latin America 08South Korea’s women-only universities weigh co-education as enrollments decline

Analysis

South Korea’s bid to overhaul corporate governance faces key enforcement hurdles

Proposed changes aim to protect minority shareholders, but limited scope and voluntary compliance may dilute impact

John LeeDecember 2, 2024

South Korea’s bid to overhaul corporate governance faces key enforcement hurdles

An illustration of corporate buildings casting long shadows | Image: Korea Pro

South Korea’s Financial Services Commission (FSC) has proposed amendments to the Capital Market Act to improve corporate governance and protect minority shareholders.

However, questions remain about whether these changes can meaningfully address systemic issues in the country’s chaebol-dominated economy and if they align with international governance standards.

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John Lee

South Korea’s bid to overhaul corporate governance faces key enforcement hurdles

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