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 Obligation
to Report Changes in Stock Ownership |
The board of directors or majority shareholders
must, by the tenth day of the following
month, report to FSC and the relevant SRO
(i.e., KRX) of any changes in
their stock ownership. |
| Disclosure
of Majority Shares Ownership ("Five-Percent
Rule") |
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Shareholders, when acquiring more than 5 percent
of the outstanding shares of a company, must
disclose such fact within five days (institutional
investors disclose by the tenth day of the
following month) of the purchase. |
|
In addition, any changes in the share ownership ratio
of more than 1 percent of the total outstanding
shares must be disclosed by the shareholders owning
5 percent or more of the company's outstanding
shares. |
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