[The Bell] Revised Commercial Act TF “No Standardized Approach for Responding to the Changes”

September 12, 2025
An interview with lawyers Yong Joon Yoon, Daehoon Koo, Kyungchun Kim, and Tae Jung Kim from Lee & Ko’s Revised Commercial Act Task Force was reported in The Bell. Mr. Yoon stated, “The cumulative voting system is positive in that it allows minority shareholders to enter the board of directors, thereby strengthening monitoring and supervisory functions. There are also companies concerned that attempts to appoint directors by certain groups pursuing short-term or strategic interests during management disputes could harm long-term interests or management stability.” Mr. Koo highlighted the addition of “disagreements regarding claims on business management decisions affecting working conditions” to the scope of labor disputes, saying, “In the past, M&A decisions were made by following legal procedures while focusing solely on corporate profits, but now they must be reviewed and decided from the perspective of protecting shareholder interests and fair treatment, with enhanced communication with shareholders.”