Following the victory of the anti-merger faction led by brothers Lim Jong-yoon and Lim Jong-hoon, former presidents of Hanmi Pharmaceutical, in the proxy fight at the Hanmi Science shareholders’ meeting, the OCI Group declared the suspension of the merger process.OCI Holdings, the holding company of
On March 25, the Federation of Korean Industries (FKI) presented a study titled “The Rise and Challenges of Shareholder Activism” that was commissioned to Kim Soo-yeon, a researcher at the law firm Gwangjang.According to data from research firm Diligent, the research indicates that attacks by activi
Align Partners Capital Management has raised the issue of overseas shareholders not being able to properly use a cumulative voting system ahead of JB Financial Group’s general shareholders meeting scheduled for March 28.“We have confirmed a number of cases where overseas shareholders have been unabl
The National Pension Service (NPS) has come out against the reappointment of Cho Won-tae, president and chairman of Korean Air, as an inside director, sparking interest in the reasons behind the move.According to the aviation industry on March 17, the NPS’s Fund Management Committee is expected to v
Recently, there has been a trend where shareholder demands for increased shareholder returns have slightly subsided as proposals such as the retirement of repurchased stocks or dividend expansions were rejected at shareholder meetings. While companies have temporarily relieved the pressure by proact
HMM potential acquirers Harim and Dongwon as well as LX and the German shipping company Hapag-Lloyd are currently undergoing eligibility assessments for the acquisition of HMM, formerly known as Hyundai Merchant Marine. In the meantime, Korea Development Bank (KDB) and the Korea Ocean Business Corpo
Attention is focusing on Hyundai Motor Group’s reorganization plan. Hyundai Motor Co. and Kia developers are scheduled to be relocated to recently acquired autonomous driving startup 42dot, and Hyundai Mobis, a core subsidiary of the group, is planning to set up module and component production subsi
The Seoul Regional Customs announced on Aug. 30 that it has uncovered 2.0715 trillion won of cryptocurrency-related illegal foreign exchange transactions as a result of its inspection that started in February.“The transactions are likely to be related to arbitrage trading to take advantage of the so
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. For the first time since 2019, the Fed has lowered its longer-run FF rate (a proxy for the neutral FF rate). Considering the past downward revision of 2018, we estimate that the terminal rate of thi
Institutional Shareholder Services (ISS), Glass Lewis and Korea Corporate Governance Service (KCGS) raised objections to former Export-Import Bank of Korea vice president Kim Young-soo becoming an outside director in KB Financial Group. He is a candidate recommended by the KB Financial Group union.K
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. At the December FOMC, the Fed is likely to turn more hawkish and raise its 2022 growth forecast. The Fed’s anticipated tightening signal is to be aimed at controlling inflation expectations. Economi
The Korea Institute for International Economic Policy (KIEP) said in its report on April 13 that the Office of the United States Trade Representative complained about the Telecommunications Business Act amendments of South Korea to block the mandatory in-app payment policies of app market operators
Hansol Group chairman Cho Dong-gil will become an inside director at the group's two major affiliates.Cho will be appointed as an inside director at the shareholders' meeting of Hansol Paper and Hansol Technics on March 24, the group said on March 3.The two companies are major affiliates of
Samsung Electronics and SK Telecom (SKT) announced on Nov. 23 that the two companies have successfully developed and trialed the next-generation 5G core network.The next-generation core network enables operators to instantaneously install and swiftly deploy customized solutions and services. With th
Institutional Shareholder Services (ISS) recently released a report to object to KB Financial Holdings’ shareholder meeting agenda items for the appointment of two outside directors recommended by the employee stock ownership association of the company. The board of the company is also opposed to th
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. Last week, the US TB 30yr-10yr spread and the copper/gold ratio both rose, suggesting that expansionary fiscal expectations and rising inflation expectations are behind the recent rise in US TB yiel
The National Pension Service (NPS) has begun a discussion on excluding Hanjin KAL from the targets of its management participation. The move appears to be aimed at distancing itself from the feud between the Hanjin Group chairman and his elder sister over the control of Hanjin KAL, the holding compa
Much attention is paid to how KCGI, which suffered a defeat at the recent shareholder meeting of Hanjin KAL, will respond to the maturities of stock loans scheduled for this year with borrowings constituting most of the fund KCGI used for additional Hanjin KAL share purchase. According to industry s
The National Pension Service (NPS) is in support of the reappointment of Cho Won-tae, chairman of Hanjin Group, as an inside director of Hanjin KAL, the group’s holding company. As a result, the gap in voting rights between the pro-Cho Won-tae side and the opposing side represented by Cho Hyun-ah, t
Former Korean Air vice president Cho Hyun-ah, activist fund KCGI and Bando Construction recently raised their Hanjin KAL shareholding from 37.63 percent to 40.12 percent. Specifically, it is divided into 6.49 percent, 18.69 percent and 14.95 percent, respectively. The three-way alliance increased th