SK Holdings Co., the parent company of South Korea's third-largest conglomerate SK Group, has raised the rate of shareholders' general meeting participation by adopting an electronic voting system for the first time in the industry.
The company said its stockholders’ voting rights exercise rates at this year’s annual meeting at the SK headquarters in Seorin-dong, Seoul, on March 26, came to 87.6 percent, or 48,900,435 shares, of the total number of issued stocks. The figure went up by 667,212 shares from 86.4 percent a year earlier. In particular, the number of shares that exercise their voting rights through the electronic voting system that was first introduced at this year’s general meeting reached 699,211.
An official from SK Holdings said, “The electronic voting system that was adopted to boost the participation of minority shareholders, including individual investors, raised the rate of overall participation.” SK Holdings has become the first holding company of conglomerate that boosted the rate of its shareholders’ participation in management by adopting the electric voting system and distributing the shareholders` general meetings starting from this year.
SK Holdings President Jang Dong-hyun said, “We will make an every effort to continuously obtain achievements so that we can become the holding company that has global leading expertise in investment such as continuous seeking for various growth areas, promotion and enhancement of investment processes and improvement of investment risk management systems.