KSD Temporarily Waives Fees for Electronic Voting and Electronic Proxy Services

[Asia Economy Reporter Oh Ju-yeon] The Korea Securities Depository announced on the 18th that it will waive all electronic voting and electronic proxy fees for issuing companies that designate the Depository as the electronic voting management institution at all shareholder meetings (regular and extraordinary) held next month.

This measure is to actively encourage the use of the electronic voting system in response to concerns over the spread of the novel coronavirus infection (COVID-19).

The Depository explained that through this fee waiver, it aims to expand opportunities for shareholders to use safe and convenient electronic voting, support the smooth establishment and operation of shareholder meetings for issuing companies, and fulfill its social responsibility by participating in the government's COVID-19 response policy.

To facilitate smooth electronic voting use by issuing companies and shareholders, the Depository provides services such as extending the electronic voting exercise period, consultation and encouragement of shareholder voting rights through the Shareholder Meeting Special Support Task Force (TF), simple authentication based on certified authentication (biometric authentication, simple password), and electronic voting schedule notification services.

President Lee Myung-ho stated, "If the COVID-19 situation continues, it will be necessary to use electronic voting to ensure that shareholder meetings are held without disruption," and added, "I hope the Depository's fee waiver will be helpful to issuing companies."