Korea Corporate Governance Forum Urges MoM Voting Method for Duplicate Listings on July 6

According to the Korea Corporate Governance Forum, on July 6, the body expressed concerns over South Korea's Financial Services Commission guidelines on duplicate listings and called for adoption of a Majority of Minority (MoM) voting mechanism. The forum said that while the guidelines represent "progress in protecting minority shareholders" by restricting duplicate listings, their implementation could worsen stock market polarization.

The forum criticized the guidelines' use of a 3 percent shareholding threshold rule, arguing it would restrict voting rights of the very shareholders intended for protection. The body emphasized that MoM voting is a universal standard adopted by numerous countries including the United States and urged immediate revision of the guidelines to prevent further equity market divide.