The ruling party, the Democratic Party of Korea's amendment to the Commercial Act called a "self-inflicted bill to promote corporate food and

2024.11.21. PM 10:55
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The People's Power criticized the Democratic Party of Korea as a self-inflicted bill and a self-inflicted bill in connection with the party's proposal for an amendment to the Commercial Act that expands the duty of corporate directors from "company" to "company and shareholders."

CEO Han Dong-hoon told reporters at the National Assembly that there could be a lot of confusion if all shareholders are included in the legal fidelity obligation due to conflicting interests between major shareholders and minority shareholders.

He then mentioned his experience in investigating illegal transactions at large corporations during his past prosecutors and pointed out that if the duty of loyalty extends to shareholders, punishment will be easier and the room for interpretation will be wider.

Kim Sang-hoon, chairman of the policy committee, also urged the Democratic Party of Korea to reflect deeply on it as there are no legislative cases around the world, saying at the Supreme Council that it could make Korean companies fall into the prey of global speculative capital.



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