Listed Companies with Assets Over 2 Trillion Won Required to Hold Electronic Shareholder Meetings; Amendment Approved by Cabinet

The Ministry of Justice announced that an amendment to the Enforcement Decree of the Commercial Act, aimed at introducing electronic shareholder meetings, was approved at a Cabinet meeting today (July 14).

Until now, there has been criticism that domestic shareholder meetings have been concentrated in specific times and locations, making it difficult for shareholders to attend due to time and distance constraints.

Under the amendment, listed companies with total assets of 2 trillion won or more will be required to hold electronic shareholder meetings starting in January next year.

As of the end of last year, a total of 210 companies are subject to this requirement, including 201 KOSPI-listed companies and 9 KOSDAQ-listed companies.

Once electronic shareholder meetings are introduced, shareholders will be able to attend meetings from anywhere via the internet and exercise their shareholder rights, including voting rights.

The Ministry of Justice plans to begin preparatory work, such as holding mock electronic shareholder meetings during the second half of this year, in cooperation with the Korea Securities Depository.

Minister of Justice Jeong Seong-ho stated, "An environment has been created where domestic and international shareholders can exercise their rights without barriers of distance and time," adding, "We will continue to strive to enhance accessibility for shareholder participation so that companies and shareholders can communicate closely."
(Photo: Blue House Photo Press Corps, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.