Corporate Governance Forum Proposes Public Debate to Hanjin Kal and KCGI

[Asia Economy Reporter Hyungsoo Park] The Korea Corporate Governance Forum, a non-profit organization, announced on the 14th that it proposes a public debate on corporate governance between Hanjin Kal management and KCGI.

The Corporate Governance Forum, a gathering of investors and corporate governance experts, focused on the Hanjin Group's shareholding competition, one of the most notable issues at the '2020 Annual General Meeting of Shareholders.' It expressed concern over the situation being known merely as a dispute between family members or between existing management and external forces.

The Corporate Governance Forum believes that if the existing management and KCGI disclose policies and strategies prepared for the company's long-term development and for shareholders and stakeholders, and discuss them in a fair debate, it will help improve the culture of shareholder meetings and the capital market.

The Corporate Governance Forum promised to form an unbiased panel and provide fair opportunities to both sides. Ryu Young-jae, chairman of the Corporate Governance Forum, said, "By having both sides participate in the debate, we hope to deliver balanced information based on facts to Hanjin Kal shareholders," adding, "A public forum will be an opportunity to take corporate governance to the next level."

The Corporate Governance Forum was founded on December 12 last year. It presented a vision to improve corporate governance through establishing desirable investor-corporate relationships, ensuring sustainable growth, and leaping to a world-class economy.