South Korea’s top financial regulator announced plans to revise the Capital Market Act to enhance protection for individual shareholders during mergers and relistings after corporate spin-offs. The Financial Services Commission (FSC) aims to improve corporate governance and increase transparency in decision-making processes. The proposed amendments seek to safeguard minority shareholders who may have been unfairly treated in past transactions, such as LG Energy Solution’s spin-off from LG Chem in 2020 and the attempted merger between Doosan Bobcat and Doosan Robotics this year. The FSC intends to submit the revised bill to the National Assembly after consulting with the ruling party. The changes would affect about 2,400 listed companies, requiring boards to protect shareholders’ legitimate interests and disclose detailed information during major financial transactions.