More firms adopt anti-virus steps for shareholder meetings

By Joo Kyung-don

SEOUL, March 16 (Yonhap) -- More South Korean companies are ramping up virus prevention measures for their upcoming shareholder meetings by adopting electronic voting to join the country's efforts to stem the spread of the novel coronavirus.

Of the some 2,300 listed firms here, a total of 314 companies, including Samsung Electronics Co. and Hyundai Motor Co., will hold shareholder meetings this week amid concerns of COVID-19 infections.

South Korea has so far reported more than 8,200 coronavirus cases.

According to a recent survey from the Korea Chamber of Commerce and Industry (KCCI), 24 percent of the surveyed 302 listed firms answered that they are worried about virus infections at their shareholder meetings.

Local firms said they are preparing various measures to protect their shareholders from the contagious disease, while following the country's social distancing campaign, which advises people to avoid mass gathering events.

SK Telecom Co. said its shareholder meeting on March 26 will be broadcasted live online, allowing shareholders to take part in the annual gathering from their homes. The shareholders of South Korea's top mobile carrier can submit their questions online and can receive an access code for the live broadcast, the company said.

Samsung Electronics said it has encouraged its shareholders to actively use e-voting, even though the company has prepared a 2,000-seat venue in Suwon, south of Seoul, for its shareholder meeting Wednesday.

Companies like KT Corp. and Hyundai Engineering & Construction Co. also have adopted an e-voting system for their upcoming shareholder meeting.

According to Korea Securities Depository (KSD), about 560 firms used e-voting systems for their shareholder meetings last year, but industry observers said the number is expected to rise significantly this year following the novel coronavirus outbreak.

For people who are to physically attend shareholder meetings, firms said they will conduct fever checks and those showing symptoms of COVID-19 will not be allowed to enter the meeting venues.

The companies said they will also ask shareholders to wear face masks at all times and will widen the distance between seats.

kdon@yna.co.kr
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