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JB Financial, KT&G brace for proxy fights at shareholders' meetings

More than seven out of 10 listed Korean companies are set to hold annual shareholders meetings throughout this week and market watchers are paying particular attention to JB Financial and KT&G, whose annual meetings are expected to become the settings of proxy fights initiated by activist funds. JB Financial Group is facing a showdown in a proxy battle with Align Partners, a local activist fund, at its annual shareholders meeting on Thursday. Align Partners is the financial giants second-largest...
South Korea Cholla Bukto Ch Ungch Ong Bukto Cholla Namdo Taekwang Industrial Co Jeonbuk Bank

Activist fund demands Namyang Dairy boost share price

Activist fund Tcha Partners Asset Management has launched a Namyang Dairy shareholder campaign urging the dairy company to take active measures to protect minority shareholders rights. According to Tcha Partners proposals sent out the company boards earlier this week, the activist fund urged the firm to buy back 50 percent stakes of both common shares as well as preferred shares - worth 191 billion won ($144 million) in total - at the price of 820,000 won per share.
Cholla Namdo South Korea Hahn Co Namyang Dairy Tcha Partners Asset Management Tcha Partner

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Hyundai Motor's IONIQ 5 crash test shows high passenger safety performance

Hyundai Motor has demonstrated the safety of the IONIQ 5 as the electric vehicle (EV) crashed into a 100-ton installation at 64 kilometers per hour and the passenger seat remained intact in a self-propelled crash test, the carmaker said Sunday. The company conducted the crash safety test for the media at its Namyang R&D Center in Hwaseong, Gyeonggi Province, Thursday.
Cholla Namdo South Korea Kyonggi Do Baek Byung Yeul Hyundai Motor Group Hyundai Motor Group Namyang Rd Center

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