Broadridge, a global Fintech leader, and Korea Securities Depository (KSD) announced the signing of a memorandum of understanding (MOU) that sets out the parties’ mutual intention to collaborate on the modernisation and enhancement of Korea’s proxy voting infrastructure. This collaboration is aimed at supporting KSD’s broader strategic objective of strengthening the efficiency, transparency and global competitiveness of the Korean capital market, while contributing to Korea’s development as a leading capital markets ecosystem. Under the MOU, Broadridge and KSD intend to work together to support the creation of a market operating model that will:

• Digitise and automate the end-to-end proxy voting process for international investors holding Korean equities;
• Enhance transparency, accuracy and governance standards in line with global best practices; and
• Strengthen Korea’s standing as a modern, trusted and globally aligned capital markets jurisdiction.

The collaboration also reflects a shared vision for advancing KSD’s long-term market leadership objectives by leveraging Broadridge’s deep experience and technology in similar infrastructure initiatives in other jurisdictions, while aligning with the Korean regulatory and market framework.

The scope of the collaboration may be expanded over time to additional proxy-related areas.

“KSD is committed to advancing a more efficient, transparent and globally connected capital market in Korea,” said Yunsu Rhee, Chairman & CEO of Korea Securities Depository. “We believe this MOU will contribute to enhancing the global accessibility of Korea’s capital market, increasing its appeal to international investors, and strengthening their confidence in the Korean market.”

“This MOU marks an important step in our relationship with KSD and our shared interest in advancing the cross-border proxy-voting experience,” said Tim Gokey, CEO at Broadridge. “By bringing together Broadridge’s global proxy expertise and KSD’s market-infrastructure leadership, we see an opportunity to support more efficient, transparent and accessible shareholder participation in Korea’s market.”

As Korea advances its corporate governance and capital market agenda, Broadridge and KSD may explore opportunities to address the evolving needs of international institutional and retail investors, issuers and market participants. The collaboration reflects the parties’ shared interest in Korea’s continued development as an accessible, globally connected and governance-focused market.

Re-disseminated by The Asian Banker