Align Partners Submits Shareholder Proposals at Coway Co., Ltd. to Protect the Interests of Minority Shareholders
Proposals follow Coway’s failure to respond to governance concerns surrounding how the Board manages conflicts of interest with its largest shareholder, Netmarble.Align submitted shareholder proposals to strengthen the independent oversight mechanism at Coway by nominating an independent governance and capital markets expert.To ensure minority shareholder representation is upheld, and meet market best practice, Align is also proposing Coway to introduce cumulative voting.
Align Partners Capital Management Inc. ("Align Partners"), a shareholder of Coway Co., Ltd. ("Coway" or "Company") since 2023, submitted 4 shareholder proposals on February 6, 2025, for the upcoming Annual General Meeting (“AGM”). These proposals aim to ensure that Coway’s governance works for all, and not just its largest shareholder.
More specifically, Align Partners will be seeking support to appoint Namuh Rhee, an independent governance and capital markets expert and Chair of the Korea Corporate Governance Forum, to the Board and Audit Committee. To secure his place, Align Partners will seek to expand the Board to prevent any defensive seat-filling by Coway. Finally, Align Partners aim to protect minority rights by securing approval to introduce cumulative voting, ensuring their voting power serves as a meaningful accountability lever.
Our concerns have been transparent regarding Coway’s governance—concerns that, based on shareholder feedback, are widely shared. To ensure equal access to information, we formally submitted questions to Coway, demanding clarity on fundamental yet critical aspects of its governance framework. TheBoard’s failure to outline a clear framework for mitigating the conflict of interest between its Executive Chair—who also leads Netmarble, Coway’s largest shareholder—and minority shareholders poses a serious governance risk. Given Netmarble’s track record of capital misallocation, these concerns are only further magnified.
All shareholders deserve greater transparency and stronger governance from Coway. We urge shareholders to support our proposals and demand that Coway disclose its “Value-Up Plan" (planned for disclosure sometime Q1 2025) before the AGM, ensuring shareholders can make fully informed decisions at the meeting.
More information can be found in our Presentation available at https://www.bside.ai/coway/feed/1206.
About
Align Partners is a Korea-focused investment firm led by CEO Changhwan Lee, leveraging private equity and investment banking expertise to drive sustainable growth and address the "Korea discount."
https://www.alignpartnerscap.com/en/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250206617823/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Xsolla Launches Loyalty as a Service for Game Developers to Build Stronger Connections With Players11.3.2025 18:00:00 CET | Press release
Empowering Developers With Tools To Boost Retention, Increase Revenue, And Foster Deeper Engagement On Their Terms Xsolla, a leading global video game commerce company, announces the launch of an innovative, customizable loyalty as a service solution designed to help developers seamlessly integrate rewards into their games’ purchase flows. This solution empowers developers to increase LTV and convert more non-paying players by enabling them to earn and redeem points, boosting engagement, retention, and recurring revenue while requiring minimal setup. The developers’ loyalty programs can be set up across direct-to-consumer stores, web shops, and Xsolla Pay Station for a seamless checkout experience for players. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250311773400/en/ Graphic: Xsolla Unlike programs offered by third-party platforms, Xsolla’s solution ensures developers retain complete control over user data and relation
Japan’s WAFUU.COM Launches Cryptocurrency Payments: 16 Supported Assets, 83 Wallets, 22 Exchanges11.3.2025 15:10:00 CET | Press release
Seamless Global Transactions: WAFUU.COM Embraces Crypto 1. Overview QRESTIA Inc. (Headquarters: Shibuya, Tokyo; President & CEO: Hidemasa Fukada) is pleased to announce that its cross-border e-commerce site, WAFUU.COM, has started accepting cryptocurrency payments. Customers worldwide can now purchase Japanese products more easily and securely using 16 different cryptocurrencies, supported by 83 wallets and 22 exchanges. 2. About WAFUU.COM WAFUU.COM (https://wafuu.com/) is a cross-border e-commerce site offering a diverse range of Japanese products, including traditional crafts, confectionery, cosmetics, supplements, food items, anime and gaming merchandise, and gadgets. With support for 21 languages, multiple currency options, and seamless cryptocurrency payments, WAFUU.COM ensures a reliable and speedy shopping experience for customers in over 70 countries. By leveraging cutting-edge technology, the site is committed to breaking down barriers of distance, language, and currency to pr
Allegro DVT Acquires Vicuesoft to Build a Worldwide Leader in Video Codecs Compliance and Analysis Solutions11.3.2025 15:00:00 CET | Press release
Allegro DVT, the worldwide leader in video codec compliance test suites and semiconductor video IPs, announces that it has completed the acquisition of Vicuesoft, the leading provider of video quality and bitstream analysis solutions. Vicuesoft, a Cyprus based company, is at the leading edge of video codec technologies. It develops and commercializes a series of video codec analysis and compliance solutions that includes the renowned VQ Analyzer bitstream analysis software used by video experts worldwide. VQ Analyzer carries out deep inspection of video bitstreams by providing valuable insights into the encoding process to help with video quality tuning as well as into the essential steps of the decoding process. Vicuesoft’s portfolio also includes VQ DVK and VQ Probe, respectively video decoder compliance solution and video codec quality measurement tool. The combination of Allegro DVT and Vicuesoft video codec compliance teams and product portfolios creates an undisputed leader with
Bynder Expands Board Members With Industry Veteran11.3.2025 14:45:00 CET | Press release
Bynder, a global leader in AI-powered enterprise DAM has appointed industry veteran Dametra Johnson-Marletti to its board of directors to further accelerate its growth. Dametra is a seasoned executive and board member, and has spent the last 24 years at Microsoft where she is currently Corporate Vice President for Gaming Consumer Sales. Her experience in sales, go-to-market, consumer content and executive leadership will be extremely valuable to Bynder as it continues to scale. Bynder has experienced unprecedented growth in the last two years, with more than 650 customers adopting the company’s AI solutions, and the acceleration of strategic DAM deployments among enterprise customers. The company has also been recognized as a leader across all three top analyst DAM reports including the Gartner DAM Magic Quadrant, Forrester Wave, and IDC Marketscape. Bynder has also secured its leadership position in the G2 Enterprise Grid Report for Digital Asset Management for two consecutive years.
ZAPI GROUP to Feature Fleet Management Innovations at LogiMAT 202511.3.2025 14:00:00 CET | Press release
Global leader in electric drive solutions enhances its portfolio with new solutions from BlueBotics and UBIQUICOM ZAPI GROUP, a global leader in electrification, is unveiling its latest solutions for the material handling and logistics sectors at LogiMAT 2025. The electrification innovator is featuring its new autonomous navigation technology “ANT Locator” from BlueBotics and recent acquisition UBIQUICOM, reinforcing its leadership in fleet management with next-generation automated navigation, asset tracking, and leading-edge “Real-Time” locating and advanced safety systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250311742968/en/ ZAPI GROUP adds new fleet management solutions from BlueBotics and UBIQUICOM to its portfolio. (Graphic: Business Wire) “For decades, ZAPI GROUP has been at the forefront of material handling electrification, delivering engineered solutions that enhance equipment efficiency and operator safe
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom