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Financial firms are publishing their plans to enhance shareholder returns in line with the government's Corporate Value-up Program, but the disclosures filed by Wednesday have been criticized for lacking specifics, according to market insiders, Wednesday.
KB Financial Group has become the first publicly traded company to officially announce a plan to disclose its corporate value enhancement plans during the fourth quarter of this year.
Korea's financial authorities and the heads of the country's major financial institutions met global institutional investors from Wall Street and New York to present their ambitious visions for the Corporate Value-Up Program, a government-led initiative seeking to propel the Korean stock market to new heights, according to the authorities, Sunday.
Financial Supervisory Service (FSS) Governor Lee Bok-hyun and heads of financial groups and companies travelled to New York this week to promote Korea's capital market as well as its government-led corporate value enhancement program.
Market watchers and investors have expressed disappointment over the guidelines for the government's Corporate Value-up Program announced, Thursday, taking issue with what they perceive as a lack of specific details regarding tax incentives for participating companies.