Electronic Voting in Shareholders Meetings in Korea: To Vote or Not to Vote
Prior to the 2009 amendments to the Korean Commercial Code, electronic voting was not specifically authorized. I highly recommend to most clients the utilization of electronic voting if the foreign shareholder is in a closed corporation in Korea. The method to include this voting is well known by most attorneys experienced in the drafting of Korean joint venture agreements and shareholder agreements for non-Korean clients. In order for a company to utilize electronic voting: The board of directors must approve voting by electronic means; The Company’s articles of association must not exclude voting via electronic means; The notice of the general meeting of shareholders,