Vice Chairman Kim Soyoung of the Financial Services Commission held a meeting with officials from related authorities, industry groups and research organizations on January 30 to discuss and announce measures to improve rules on treasury stocks of listed companies. At the meeting, Vice Chairman Kim outlined market participants’ views on Korea’s treasury stock system and proposed measures for improvement. To protect the rights and interests of ordinary shareholders in corporate spin-offs, authorities will prohibit allocation of new shares on treasury stocks. To ensure the provision of transparent information on the acquisition, holding and disposal of treasury stocks, authorities will upgrade rules to require listed companies to disclose in detail when the proportion of their treasury stock holding rises above a certain level and to strengthen disclosure duty on the disposal of treasury stocks.