KCGS 한국ESG기준원

- Backed by the implementation of the stewardship code and the emergence of activist funds, institutional investors are actively engaging with investee firms.

- For shareholder engagement, institutional investors employ diverse channels including letters, shareholder proposals, and a proxy fight. These engagement activities are expected to increase in the coming months and years.

- The shareholder engagement waged by Elliot this proxy season and Hyundai Motor Group’s response showed a desirable direction of constructive shareholder engagement.

- Constructive shareholder engagements, if they continue, will contribute to the development of the local capital markets. In this light, ongoing constructive shareholder engagements should be encouraged.



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