The number of shareholders using electronic voting during this year’s general meetings nearly tripled from the previous year, data showed on April 2.
Around 106,000 shareholders signed on to use e-voting as of the end of March, up 194 percent from the previous year, according to the data from Korea Securities Depository.
The surge is attributable to the growing number of companies that have adopted e-voting. This year, 564 companies used it to help shareholders voice their views, up 15.3 percent on-year.
E-voting has become a crucial means for firms to secure a quorum at shareholder meetings after “shadow voting” was abolished in late 2017. In shadow voting, the KSD acted on behalf of minor shareholders who transferred their voting rights to the agency.
By Ram Garikipati and newswires (firstname.lastname@example.org)