Chairman Lee Eog-weon of the Financial Services Commission attended a policy seminar held on improving regulations on split listing of parent-subsidiary companies on April 16. The seminar was joined by investors, industry groups, and experts from various backgrounds, and the participants had discussions on ways to bring about regulatory improvements to split listing of parent-subsidiary companies. The FSC had previously announced a plan to prohibit split listings of parent-subsidiary companies in principle with an aim to strengthen protection for ordinary shareholders. In this regard, FSC Chairman Lee said that financial authorities will seek to upgrade relevant rules and the screening process to make sure to clearly distinguish between the split listings of parent-subsidiary companies generating lopsided benefits for only a few and those that are deemed to be fair and that can create new value for ordinary shareholders. While speaking about the recent change made in the Commercial Act bringing about significant improvements in the protection of shareholders, Chairman Lee said that the regulatory improvements sought on split listing will help to further strengthen the fiduciary duty of corporate executives and boards in the best interests of shareholders.