Samsung Electronics shareholders gather at Suwon Convention Center, Gyeonggi Province. Korea Times file
Korea is moving to dismantle one of the most persistent inconveniences of its corporate governance calendar, mandating electronic shareholder meetings for the country’s largest listed companies in a sweeping regulatory overhaul aimed at expanding investor participation.
The Ministry of Justice said Thursday that it has proposed amendments to the enforcement decree of the Commercial Act that will require electronic general meetings of shareholders for companies with total assets of at least 2 trillion won ($1.3 billion), covering 210 listed firms as of the end of 2025.
Officials said the measure is designed to address long-standing criticism that traditional shareholder meetings, often concentrated on a single annual “peak season,” have effectively excluded retail and overseas investors who cannot travel to physical venues.
Under the new rules, affected companies will be required to provide systems allowing shareholders to attend and vote remotely through the internet, effectively enabling participation “anytime, anywhere,” according to the ministry.
The ministry said the reform will establish detailed procedural standards for running hybrid and fully electronic meetings, including authentication methods, voting systems and safeguards to ensure the legitimacy of remote participation.
The move follows recent revisions to the Commercial Act requiring listed companies to adopt electronic shareholder meetings and represents an early-stage implementation framework focused on large corporations.
The ministry said the 210 affected companies include 201 firms listed on the benchmark KOSPI and nine on the secondary Kosdaq.
Justice Minister Jeong Seong-ho said the reform would remove barriers of time and distance that have limited shareholder rights.
He said the government would continue working to improve investor access and strengthen communication between companies and shareholders.
Source: Korea Times News
