South Korea Introduces 3% Rule to Tighten Controls on Dual Listings, June 6

According to the Financial Services Commission and Korea Exchange, on June 6, the South Korean government introduced a new '3% Rule' to regulate asymmetric dual listings of subsidiaries. The rule restricts controlling shareholders' voting rights in audit committee nominations to protect minority shareholders of parent companies. The regulatory amendments to exchange rules and guidelines will undergo a public comment period until June 14.
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