Align Partners Submits Shareholder Proposals at Coway Co., Ltd. to Protect the Interests of Minority Shareholders
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/
Contacts
Wooseok Choi / Jane Kim
coway_valueup@alignpartnerscap.com
+82-2-6956-8033
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
www.businesswire.com
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
Alipay Sees Tap! Users Pass 100 Million, Accelerating Payment and AI Innovations25.4.2025 05:30:00 EEST | Press release
Alipay Tap!, a QR code-based contactless payment and customer engagement solution introduced by Alipay in China in June 2024, reports today it has won over 100 million users within 11 months. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250424690776/en/ FamilyMart leverages Alipay Tap! to simplify payments and membership management. Alipay Tap! further simplifies the payment experience for both consumers and merchants compared to the “scan-and-pay” model ubiquitous in China. Users tap their unlocked phone against a merchant’s terminal or an Alipay Tap! Tag, eliminating the need to open an app, scan a code, or click through multiple screens. Data from early adopters show the solution also allows merchants to integrate customer engagement tools more seamlessly into the one-tap payment experience. FamilyMart, the nation-wide convenience store chain, reports that membership sign-ups at checkout tripled post-integration. Accord
DNIB.com Reports Internet Has 368.4 Million Domain Name Registrations at the End of the First Quarter of 202525.4.2025 00:37:00 EEST | Press release
VeriSign, Inc. (NASDAQ: VRSN), a global provider of critical internet infrastructure and domain name registry services, today announced that, according to the latest Domain Name Industry Brief Quarterly Report from DNIB.com, the first quarter of 2025 closed with 368.4 million domain name registrations across all top-level domains (TLDs), an increase of 4.2 million domain name registrations, or 1.1%, compared to the fourth quarter of 2024. Domain name registrations also increased by 6.1 million, or 1.7%, year over year. The .com and .net TLDs had a combined total of 169.8 million domain name registrations in the domain name base at the end of the first quarter of 2025, an increase of 0.8 million domain name registrations, or 0.5% compared to the fourth quarter of 2024. The .com and .net TLDs had a combined decrease of 2.6 million domain name registrations, or 1.5%, year over year. As of March 31, 2025, the .com domain name base totaled 157.2 million domain name registrations and the .ne
Smart Communications Announces Acquisition of Joisto24.4.2025 16:45:00 EEST | Press release
Smart CommunicationsTM, the leading cloud-based platform for enterprise customer communications, today announces it has acquired Joisto, a cloud data archive company. As a result, customers will now have the ability to seamlessly store, manage and retrieve digital records and documents, while meeting the stringent requirements for data retention that govern regulated industries worldwide. “We’re delighted to incorporate Joisto’s deep expertise in cloud archival into Smart Communications,” said Leigh Segall, CEO of Smart Communications. “Our leading Conversation Cloud Platform already enables our customers to manage sophisticated customer conversations at tremendous scale. With the addition of Joisto, we will extend these capabilities to meet an increasing need for regulatory-compliant and readily accessible storage of these conversations in the cloud. Together we will support customers worldwide as they continue their journey to modernize and transform customer conversations.” Joisto’s
Rimini Street Appoints Joe Locandro as EVP and Chief Information Officer to Lead Global IT Strategy24.4.2025 16:00:00 EEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced the appointment of Joe Locandro as executive vice president (EVP) and chief information officer (CIO). In this role, Locandro will lead Rimini Street’s global IT operations, oversee enterprise systems strategy and drive technology innovation initiatives in support of Rimini Street’s continued growth and client success. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250424168093/en/ Rimini Street Appoints Joe Locandro as EVP and Chief Information Officer to Lead Global IT Strategy Deep Technology Leadership Across Range of Industries and Regions Locandro brings more than 25 years of international leadership experience across sectors including energy, aviation, utilities, construction, and entertain
Boomi World 2025: Accelerating What’s Next in AI, Integration, and the Connected Enterprise24.4.2025 16:00:00 EEST | Press release
Boomi™, the intelligent integration and automation leader, is excited to announce that Boomi World 2025 will be held May 12-15, 2025, in Dallas, Texas. This premier event will showcase the latest advancements in AI-driven integration and automation, bringing together industry leaders, innovative thinkers, and Boomi customers and partners to explore how these technologies are reshaping the future. Attendees will gain valuable insights on how to break down silos, streamline operations, and make informed, data-driven decisions through a series of keynote sessions, breakout discussions, and hands-on training opportunities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250424969941/en/ Boomi World 2025: Accelerating What’s Next in AI, Integration, and the Connected Enterprise Emceed by technology industry veteran and correspondent Lisa Martin, Boomi World 2025 will feature esteemed speakers, including: Tara Davis-Woodhall and Hu
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