<Anchor> This is a
friendly economic time. As always, today (the 21st) will be with reporter Kim Hye-min. This year, individual investors and individuals investing in stocks have increased a lot. However, recently, the number of cases where these minority shareholders unite and act collectively is also increasing.
<Reporter>
Yes. The number of individual investors in Korea has already exceeded 10 million, which means that 1 out of 5 people owns stocks.
In fact, there is little reason to act collectively when stock prices are rising, but these days when stock prices are falling, it is inevitable.
A representative company is Celltrion. The stock prices of the three companies called 'Celltrion's three brothers' fell sharply as the sales of COVID-19 treatments suffered sluggish.
In this month, the market cap has decreased by more than 11 trillion won. Despite this, minority shareholders have launched the 'Emergency Response Committee', saying that the company has not made any effort to defend the stock price.
It has secured 50 million shares through equity raising, and warned that if the management's attitude does not change after that, the stake will be sold.
<Anchor>
Minority shareholders are also showing signs of exercising their rights. However, in the case of Celltrion, minority shareholders are very loyal to the company. There were many things like this.
<Reporter>
That's right. A few years ago, Celltrion had been evaluated that stocks were close to 'religion'. It meant that minority shareholders had strong cohesion and had firm trust in management, but recently they have completely turned their backs on management.
Minority shareholders are complaining, "Up until five years ago, I even fought a war with Honorary Chairman Seo Jeong-jin for short selling, but now I feel betrayed."
You may be thinking, “How much will it be if minority shareholders gather?” However, Celltrion has a very high proportion of stocks held by minority shareholders.
As of the second quarter of last year, there were about 409,000 minority shareholders. Their shares account for more than 64% of the total issued shares.
It is said that the non-captain has already collected 1,400 shares, that is, 10% of the total stake, so it is a force that cannot be ignored from the management's point of view.
<Anchor> That's
right. It really seems impossible to ignore. But besides Celltrion, are there other companies in which minority shareholders act collectively?
<Reporter>
SK Chemicals is in a similar situation. The company is pushing for a physical division, but I am opposed to this.
In fact, physical splits often lead to share price declines. Minority shareholders have recently been running bus wrap advertisements and one-man protests.
HMM's minority shareholders also gathered this time.As the stock price of HMM has recently fallen by more than 30%, shareholders are demanding measures to enhance shareholder value from the company.
As the anger of minority shareholders grew bigger than expected, the company even took a position that it was "reviewing shareholder-friendly policies, including dividends."
Previously, minority shareholders such as Doosan Infracore, Seegene, and Bukwang Pharm formed solidarity and gathered together.
<Anchor> If
you look at the collective actions of minority shareholders right now, they will exercise their rights, they will find it.
I can understand this move, but from the perspective of management, I think that excessive management intervention can cause some side effects.
It doesn't seem like it would be easy to find this point of contact.
<Reporter> In the
past, minority shareholders blamed their luck or skills when the stock price fell.
But now, the number of cases where listed companies actively raise objections to any unreasonable points is increasing.
In fact, as ESG management becomes more important to companies, a national consensus is forming that it is necessary to exercise shareholder rights to participate in corporate management and also to monitor.
However, if you are doing a minority shareholder movement and demand an unconditional share price stimulus package from the company to interfere with management, the existence of the company could be at risk.
It is important to focus on resolving the company's problems on the basis of reasonable grounds. If we consider the impact on corporate workers and society rather than simply demanding the profits of shareholders, it is expected to bring more positive effects.