FSC/KRX Joint Press Release: Prohibition in Principle of Dual Listings
Strengthened Protection of Parent-Company Minority Shareholders — English Translation
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About this document
English translation of the FSC and KRX joint press release dated July 6, 2026, announcing the detailed criteria for the "prohibition in principle, exceptional permission" framework for dual listings of subsidiaries on Korean exchanges. The release sets out five duties imposed on parent-company boards grounded in directors' duty of loyalty to shareholders; introduces strengthened special listing-examination criteria covering subsidiary business and management independence and parent-company investor protection; and establishes the shareholder-consent "3% rule" with differentiated treatment of physically spun-off, general, and low-weight subsidiaries.
This translation is produced by H&S Partners, a licensed Korean law firm with deep expertise in Korean financial regulation, ensuring legal-grade accuracy and authoritative English rendering of technical regulatory language.