Deals & Cases

Financial Disputes 2023-07-18
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DR & AJU Advises the KCGI on Inspection for Accounting Records, Etc. for Public Procurement

DR & AJU comprehensively advised the KCGI on various aspects of its shareholder activities for improving the corporate governance structure of Osstem Implant, starting from the acquisition of Osstem Implant’s shares to participating in a public tender offer.

The provided services included advisory on identifying items subject to inspection, such as accounting books, applying for provisional disposition for the inspection of the identified items, reporting the number of owned stocks and disclosing the results of the sale in compliance with rules such as the 5% rule, preparing and reviewing proposals for shareholder initiatives, distributing press releases, and reviewing response measures for addressing stakeholders that are friendly to the largest shareholder.

This case is especially noteworthy as the KCGI is a prominent shareholder activist fund representing the shareholder activism trending in Korea.