The Ministry of Justice announced that an amendment to the Enforcement Decree of the Commercial Act, aimed at introducing electronic general shareholders' meetings, was approved at a Cabinet meeting on the 14th.
Until now, there has been criticism that domestic general shareholders' meetings are concentrated in specific periods 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 general shareholders' meetings starting in January of 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 general shareholders' 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 general shareholders' meetings in 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 shareholder 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 Press Corps, Yonhap News)