The minority shareholder platform "Act" said on the 10th that it has filed for a provisional injunction to inspect and copy the shareholder register against Samsung Electronics.
Act said it plans to secure the shareholder register through the lawsuit and mail letters to at least 10,000 shareholders, beginning the exercise of shareholder rights over the 10-year agreement for a "N% of operating profit" performance bonus. Act said 14,721 Samsung Electronics shareholders are currently participating on the platform, and the total shares they have verified amount to 1.6 trillion won.
Act said the reason for the lawsuit is that Samsung Electronics has not responded to its request to inspect the shareholder register. Act said it first requested inspection of the shareholder register on May 20, then formally requested delivery again by official email on the 3rd and 5th of this month, but Samsung Electronics has yet to reply.
Act said, "This blatantly disregards minority shareholders, the real owners of the company," and explained, "Our legitimate right to the shareholder register, which under the Commercial Act must be available at all times during business hours, has been infringed, so we have taken immediate legal action."
Act had earlier raised concerns that the special management performance bonus agreed to by labor and management at Samsung Electronics could undermine shareholder value. It said this lawsuit is not merely a step to secure the shareholder register, but the starting point of a campaign to require shareholder meeting approval for performance bonuses.
Samsung Electronics created a special management performance bonus for the semiconductor institutional sector funded by 10.5% of operating profit and decided to pay it in treasury shares. The agreement is said to be valid for the next 10 years if a minimum operating profit threshold is met. To carry out the agreement, Samsung Electronics will have to newly acquire a large amount of treasury shares over the next 10 years.
Act noted, "Under the 2026 amended Commercial Act, the board must draw up a plan and obtain approval from the shareholder meeting for holding or disposing of treasury shares for employee performance bonuses, and it must be renewed at the regular shareholder meeting every year."
However, Act said there is concern that the new law may not apply retroactively to Samsung Electronics, which has already signed a 10-year agreement without shareholder consent.
The government has also reportedly been reviewing a plan to require shareholder meeting resolutions for performance bonuses tied to operating profit. President Lee Jae-myung also said at a recent news conference, "If there is social pressure to carve out and distribute a portion of operating profit, leading overseas companies may hesitate to invest in Korea," expressing concern that the demand for an "N% performance bonus" could weigh on foreign investment.