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Shareholder Proposal

Shareholder Proposal

What is a Shareholder Proposal?
  • Shareholder Proposal refers to the right to propose to directors of a company that some issues be raised as agenda items for the general meeting of shareholders. (Article 363-2 of the Commercial Act)
  • Shareholders who hold a certain percentage of issued and outstanding shares of a listed company may make a proposal, and the rate of shareholding herein shall be jointly made up by two or more shareholders. (Article 363-2(1), 542-6(2), and 542-6(8) of the Commercial Act)
How to Make a Shareholder Proposal
  1. Submission Deadline
    Six(6) weeks before the date of the year that is equivalent to the date of the previous annual meeting of shareholders
  2. Method
    Written or electronic documents
    • - Address (for the written documents) : IR Team, 3F, Kakao Pangyo Agit, 166, Pangyo Station-ro, Bundang-gu, Seongnam-si, Gyeonggi-do
    • - E-mail (for the electronic documents) : ir@kakaocorp.com
  3. Qualification
    Shareholders who own over three(3) percent of the total number of issued and outstanding voting shares, Any shareholder who has continued to hold stocks equivalent to over one(1) percent of the total number of issued and outstanding voting shares of a listed company for at least six(6) months
    • - At the time of determining the fulfillment of equity requirements, the day before a shareholder proposal was submitted (in writing or by electronic documents) shall be the starting point of reckoning the six(6)-month retention period.
    • - Document to be submitted : Certificate of actual shareholders issued by the Korea Securities Depository, Statement of transaction details (Proof of retention required)
  4. Note
    The Company shall have no obligation to adopt any shareholder proposal that fails to comply with the requirements, submission deadline
Internal Process
  1. Report the shareholder proposals received to the board of directors
  2. Review the following matters:
    1. (1) whether the shareholder's equity holding rate is sufficient enough to meet the criteria prescribed in the relevant laws and regulations
    2. (2) whether the shareholder proposal complies with the deadline set in the applicable laws and regulations
    3. (3) whether the proposed content violates the applicable laws and regulations and/or falls under the reasons for refusal stipulated in the Commercial Act
  3. If any matter conforming to the conditions (1) and (2) does not correspond to the condition (3), it shall be submitted as an agenda item to the general meeting of shareholders.
  4. When a shareholder who proposed requests the opportunity of speaking, he/she shall gain a hearing in the general meeting of shareholders.

[Contact] Kakao IR : TEL) 02-6718-1082


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