Platform covers advance e-voting through same-day electronic general meeting votes

Foreign shareholder access, video links and voice Q&A among new features

Korea Securities Depository. [Yonhap]
Korea Securities Depository. [Yonhap]

Korea Securities Depository has launched eVOP, a comprehensive electronic voting rights platform, ahead of the electronic general meeting regime set to take effect in January next year. The depository integrated its existing K-VOTE electronic voting system into the new platform, building a unified framework that covers advance e-voting through same-day balloting at electronic general meetings as it pushes to digitize how shareholders exercise their voting rights.

According to the depository Monday, eVOP went live last week. The launch marks the most sweeping overhaul of the system in six years — the depository first introduced electronic voting in 2010, then rebranded it as K-VOTE in 2020.

eVOP is a comprehensive platform supporting both advance e-voting, which runs until the day before a general meeting, and same-day voting conducted inside an electronic meeting venue. A key feature is its ability to connect multiple voting methods — including online voting at in-person general meetings — within a single system.

eVOP stands for Electronic Voting Platform, with "One Platform, Every Vote" as its brand philosophy. The depository plans to offer advance e-voting, in-meeting electronic balloting and online voting at physical general meetings all through the single platform, making it more convenient for shareholders to exercise their voting rights.

The existing K-VOTE electronic voting and proxy service will be folded into eVOP. Companies and shareholders can use the advance e-voting service on eVOP now, and electronic general meeting services will become available from Jan. 1 next year, when the amended Commercial Act takes effect. Corporate shareholders, institutional investors and issuing companies that are already K-VOTE members can use the platform without re-registering. Individual shareholders must sign up as new members.

The platform includes features supporting foreign shareholders' participation in electronic general meetings, along with video-link functionality. It also supports voice questions and statements from shareholders. Authentication options include the joint certificate and the financial certificate, as well as 13 types of simplified authentication.

To help the platform gain early traction, the depository is running a two-week intensive period of system checks and customer support from Oct. 19 through Oct. 30.

On Nov. 4, the depository will co-host a ceremony with the Ministry of Justice to mark the introduction of electronic general meetings and the platform's launch. Attendees are expected to include the Financial Services Commission, listed companies, securities-related institutions, the financial investment industry, academics, legal professionals and overseas providers of electronic general meeting services. Following the ceremony, the depository will hold a seminar for general meeting officers at large listed companies — those required to hold electronic general meetings — covering the depository's role as an electronic general meeting administrator and legal issues related to electronic general meetings, as presented by Kim & Chang law firm.


kacew@heraldcorp.com