Foreign Shareholders Begin Intervention In Management

Foreign shareholders have begun their intervention in management by requesting access to accounting data.
Tiger Fund, which has a 6.48 percent share of SK Telecom, appointed a board member outside the company and requested that investment abroad totalling more than 10 billion won should be co-signed by that board member.
It also requires the formation of an audit committee which will track the financial transactions of board members. It wants to control the decision-making proceedings of Korean board members through the auditing committee to be appointed at a later date.
Templeton, which has about three percent of the shares of POSCO, indicated the dividend rate of the company was comparably lower than other companies and required more dividends.
POSCO has decided to increase its dividend rate to the 25 percent point, which is the highest rate in its history.