Hyundai Motor Group to adopt e-voting system at all subsidiaries

All of Hyundai Motor Group’s listed subsidiaries will introduce an electronic voting system, with the aim of shareholder friendly management, the group said Wednesday.

Until last year, Hyundai Glovis, Hyundai Bng Steel and Hyundai Motor Securities had preemptively introduced the e-voting system to allow wider participation from shareholders.

This year, the remaining nine listed subsidiaries decided to adopt the electronic voting. The units are Hyundai Motor, Kia Motors, Hyundai Steel, Hyundai Mobis, Hyundai Engineering & Construction, Hyundai Wia, Hyundai Rotem, Innocean and Hyundai Autoever.

The adoption of the electronic voting system will be confirmed at the meetings of the board of directors held by each unit this month. The system will be used starting with next month’s general shareholders meeting.

The group said the decision was made to ensure minority shareholders’ rights and to vitalize general shareholders meetings. 

By Shin Ji-hye (shinjh@heraldcorp.com)