Korea Capital Market Institute

Tick Size Reduction for Exchange-Traded Products: Effects and Implications [Research Fellow] Kim, Minki In December of last year, the Korea Exchange implemented a reduction in the tick size for ETPs priced below KRW 2,000, lowering it from KRW 5 to KRW 1. Amid the growth of low-priced ETPs in the secondary market, this measure was introduced to address issues of low-priced products such as widening bid-ask spreads and increasing tracking errors. As of the date of the tick size re... Challenges in Shareholder Protection during the M&A Process of Publicly Traded Companies: A Case Study on the M&A Deal among Doosan Affiliates [Research Fellow] Hwang, Hyunyoung The recent spin-off merger and all-inclusive share swap involving Doosan affiliates have raised significant concerns about shareholder protection in the M&A process. Doosan Group has claimed that the merger ratio was determined based on market prices in accordance with the Financial Investment Services and Capital Markets Act (FSCMA). But it did not apply the 10% adjustment ran...