Securities administration - South Korea
|Market Record date||Ex-date||Basis for entitlement||Standard interest calculation rule|
Varies according to the settlement period
Closing date for a settled position on the books
Principal * coupon rate * (actual holding period / a coupon payment cycle)
|Dividend payment||Book’s Close|
|Book’s Close date|
-1 business day
Settled position on Books Close date
Most common corporate events
The most common corporate actions are cash and stock dividends, rights and bonus issues. Mergers, acquisitions, stock splits, reverse splits and depository receipt conversions are becoming more frequent.
Announcements are generally made about one month to two weeks before record date and published in the official Korea Exchange newspaper.
Proxy voting and meeting attendance
Proxy voting is available in the Korean market and can be conducted either via the Korea Securities Depository’s voting system or by personally designating someone to attend the meeting.