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KRX recommends Kim Woo-chan as Kosdaq market committee chair candidate

The Korea Exchange said its Kosdaq Market Committee has recommended Kim Woo-chan, a professor at Korea University Business School, as candidate chair of the Kosdaq Market Committee. Kim is expected to be appointed at an extraordinary general meeting of shareholders on July 6. The exchange said Kim has expertise in finance and corporate governance and has held roles at governance and reform institutes. He has also worked in government and academia and holds Harvard degrees.

Games & Commerce

Kakao Games likely to adopt co-CEO system with Kim Taehwan and Lee Siwoo; extraordinary meeting set for June 22

Kakao Games plans to hold an extraordinary shareholders meeting later this month to reshuffle its board. Kim Taehwan, a vice president at LINE Games, and Lee Siwoo, the company’s chief business officer, were nominated as inside directors and could take up posts as co-CEOs after appointment. The board changes are conditional on completion of a deal that would make LAAA Investment, funded by Line Yahoo, the company’s largest shareholder.

Telecommunications & Media

KT revises board ethics code, introduces semiannual checks for outside directors

KT has revised its board ethics code and updated mandate contracts for outside directors to curb excessive influence. The board added a clause stating outside directors must not exercise influence that undermines fairness or independence in matters such as personnel, business and investment. The revised contract requires compliance with laws and internal rules and allows measures including warnings and recommendations to forgo voting rights or resign. Outside directors will also complete a semiannual self-checklist.