Management Abuse Examined
Lee Keun-young, chairman of the Financial Supervisory Commission, said Wednesday that he will review the corporate status of stock-market-listed companies and will establish supplemental plans to improve management openness.Mr. Lee emphasized in his speech to some local economists Wednesday that a disciplinary system needs to be set up to observe and check management abuse by boards of directors, even though the government guarantees them independence in management. In his response to complaints by foreign investors of the lack of management openness, he fully supported the establishment of class action suits.
with the Korea JoongAng Daily
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