The stock prices of major conglomerate holding companies are strong at the beginning of the market on the 1st. With the likelihood of the amendment to the Commercial Act passing, it seems that investors have flocked in.
HS HYOSUNG shares traded at 91,600 won on the Korea Composite Stock Price Index (KOSPI) at 9:23 a.m. on the 1st. The stock price surged by 29.93% (21,100 won) compared to the previous day, reaching the upper limit (the highest price limit of the day). At the same time, Hanwha's stock price also rose by 14.63% (13,800 won).
KOLON, CJ, LG, LX Holdings, and SK Square are also recording stock price increases of over 5%.
The People Power Party, which had previously opposed the amendment to the Commercial Act, has changed its stance to 'open to discussion', speeding up the passage of the law. The People Power Party has argued that the amendment to the Commercial Act poses a risk of stifling corporate management activities, advocating for an amendment to the Capital Market Act instead. While the Commercial Act applies to both listed and unlisted corporations, the Capital Market Act applies only to listed corporations, which relatively reduces the burden on corporations.
The amendment to the Commercial Act expands the duty of loyalty of directors from the company to the company and shareholders, and strengthens the introduction of electronic shareholders' meetings. On this day, if the amendment to the Commercial Act is presented and passed by the Legislation and Judiciary Committee, it is expected to pass through the plenary session before the end of the extraordinary National Assembly on the 4th.