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Finance

Korea moves toward principle ban with exceptions for duplicate listings, shareholder safeguards in focus

South Korea is moving toward a policy of banning duplicate listings in principle while allowing exceptions, as the government seeks to prevent harm to parent-company shareholders and ease the Korea discount. At a seminar at the Korea Exchange, participants debated how far shareholder approval should be mandatory and what form it should take. Investors called for stronger curbs, while IPO and venture capital participants warned excessive rules could hinder fundraising and growth.

Finance

Dual listings fuel Korea discount, minority shareholders need stronger voting rights

Nahyeon-seung (나현승), a Korea University professor, said frequent dual listings in South Korea’s capital market are a major cause of the “Korea discount” and called for a sharp expansion of minority shareholder rights. He said dual listings account for about 18 percent of market capitalisation, far above most major markets. He proposed requiring minority shareholder approval and limiting controlling shareholders’ voting rights, while warning that an outright ban could curb investment.