Financial Supervisory Service Requests Amendment of Merger and Stock Swap Securities Report from Doosan Robotics

"Must Provide Specific Explanations to Shareholders"

Financial Supervisory Service building in Yeouido, Seoul. Photo by Younghan Heo younghan@

The Financial Supervisory Service recently announced that it has requested a correction to the securities report on the comprehensive stock exchange and transfer related to the controversial merger of Doosan Robotics.

The FSC explained that the correction was requested to ensure shareholders are provided with sufficient information, specifically requiring detailed explanations and supplements regarding the background of the restructuring, decisions affecting shareholder value, and potential risks to profitability and financial stability.

Doosan Group recently announced a business restructuring plan to transfer Doosan Bobcat as a wholly owned subsidiary of Doosan Robotics through a series of transactions including the spin-off and merger between Doosan Robotics and Doosan Enerbility, and a comprehensive stock exchange between Doosan Bobcat and Doosan Robotics.

There was significant backlash from minority shareholders as the capital transaction between the deficit-running Robotics and the stable 'cash cow' Bobcat valued the companies at nearly a 1:1 ratio.

Kim Hyun-jung, a member of the National Assembly's Political Affairs Committee from the Democratic Party, estimated that minority shareholders holding existing Doosan Enerbility shares would incur a loss of 271,000 KRW per 100 shares.