KSD Offers Non-Face-to-Face Service for Refusing General Meeting Convocation Notices

The Korea Securities Depository (KSD) is now offering a non-face-to-face service that allows shareholders to refuse receipt of general meeting convocation notices via smartphone.

Since July 2022, KSD has launched its new 'Securities Agency Homepage', providing non-face-to-face stock-related services for issuing companies and shareholders.

This homepage was developed to minimize the inconvenience and costs associated with in-person visits by issuing companies and shareholders, to improve existing face-to-face operations into non-face-to-face and paperless methods, and to practice ESG management.

Through this homepage, KSD provides various non-face-to-face services. Among them, the 'Notice Receipt Refusal Application', 'Small-Amount Stock Delivery Application', and 'Small-Amount Payment Application' services have been particularly helpful in facilitating shareholders' stock-related tasks.

The 'Notice Receipt Refusal Application' allows shareholders to request refusal of various notices, such as general meeting convocation notices and dividend notices, received from issuing companies. Shareholders can access the 'Notice Receipt Refusal Application' menu on the KSD Securities Agency Homepage via PC or mobile device (such as a smartphone or tablet PC). After completing identity verification (via mobile phone, i-PIN, etc.) as guided on the homepage, shareholders can select the notices they wish to refuse and click 'Register Application' to complete the process.

Additionally, shareholders can apply for the delivery of undelivered stocks with an appraised value of less than 5 million KRW (undelivered stocks) through the 'Small-Amount Stock Delivery Application' menu. They can also apply for payment of undelivered dividends, fractional share proceeds, and other amounts less than 1 million KRW (undelivered payments) through the 'Small-Amount Payment Application' menu.

However, applications for 'Small-Amount Stock Delivery' and 'Small-Amount Payment' can only be made via mobile (smartphone). If the appraised value of undelivered stocks exceeds 5 million KRW or the undelivered payment exceeds 1 million KRW, shareholders must visit KSD in person to apply.

The services such as 'Notice Receipt Refusal Application', 'Small-Amount Stock Delivery Application', and 'Small-Amount Payment Application' provided on this homepage are limited to issuing companies that have appointed KSD as their shareholder registry agent. Therefore, shareholders should confirm the shareholder registry agent of the issuing company before applying for these services.

KSD stated that it will continue to strive to ensure that issuing companies and shareholders can receive securities agency services quickly and conveniently.