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New AoA Extends Voting Rights to Korean Corporate Members
The European Chamber of Commerce in Korea (ECCK) has received final confirmation of the Chamber’s amendment of Articles of Association (AoA) by the Ministry of Trade, Industry and Energy (MOTIE). The Chamber has held an Extraordinary General Meeting in October to receive its members’ consent on the adoption of suggested amendments of the AoA.
The important amendments in the said AoA (ECCK Articles of Association) includes the extension of voting rights to corporate members of all nationalities, companies or legal entities duly registered in Korea. Prior to the amendment, only corporate members with European Union (EU; 28 countries) and European Free Trade Associations (EFTA; Switzerland, Norway, Iceland, Liechtenstein) nationalities were allowed to exercise the voting rights.
With that, EU and EFTA nationals representing corporate members as well as other nationals (including Korean national) representing corporate members headquartered in the EU or EFTA may be elected as members of a Board.
By opening up to the Korean society through the newly amended AoA, the ECCK hopes to develop stronger ties between Korea and Europe.
The new AoA took effect immediately after receiving the confirmation by the MOTIE.
Please click here to find the official press release.
To read more, please read the Korean articles below:
New AoA Extends Voting Rights to Korean Corporate Members
The European Chamber of Commerce in Korea (ECCK) has received final confirmation of the Chamber’s amendment of Articles of Association (AoA) by the Ministry of Trade, Industry and Energy (MOTIE). The Chamber has held an Extraordinary General Meeting in October to receive its members’ consent on the adoption of suggested amendments of the AoA.
The important amendments in the said AoA (ECCK Articles of Association) includes the extension of voting rights to corporate members of all nationalities, companies or legal entities duly registered in Korea. Prior to the amendment, only corporate members with European Union (EU; 28 countries) and European Free Trade Associations (EFTA; Switzerland, Norway, Iceland, Liechtenstein) nationalities were allowed to exercise the voting rights.
With that, EU and EFTA nationals representing corporate members as well as other nationals (including Korean national) representing corporate members headquartered in the EU or EFTA may be elected as members of a Board.
By opening up to the Korean society through the newly amended AoA, the ECCK hopes to develop stronger ties between Korea and Europe.
The new AoA took effect immediately after receiving the confirmation by the MOTIE.
Please click here to find the official press release.
To read more, please read the Korean articles below:
[EnewsToday] 주한유럽상공회의소, 정관 개정 통해 한국 기업회원에게도 투표권 부여