Fast reading
- South Korea has long had a reputation for poor corporate governance, with controlling shareholders resisting efforts to reduce their power relative to minority shareholders.
- Over time, it became clear to us that an engagement approach centred on asking company directors to treat minority shareholders fairly and optimise the capital structure would fall on deaf ears.
- Our only hope to achieve viable change was to encourage an overhaul of the country’s regulations – a tough ask. We embarked on an ambitious campaign amid wider political shifts in the country. It is pleasing to now see the country enact sweeping changes which could have far-reaching implications, with South Korean stocks being among the best-performing asset classes this year.
Asia ex-Japan Letter to Investors Autumn 2025
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