Although 63% of participating shareholders supported the resolutions, 37% voted against them. As these were special resolutions, they required at least three times more votes in favour than against to pass, which was not achieved.
The benchmark Kospi plunged 551 points, or 8.1%, to 6,2505. The steep decline triggered “sidecar” trading curbs on both the Kospi and the junior Kosdaq
South Korean stocks experienced a significant decline on Tuesday. This downturn was driven by a global selloff in chipmakers and rising competition from China. SK
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