Sources said SK Square has been exchanging views with Palliser regarding long-term strategic direction and shareholder return policies.“Given the size of Palliser’s stake in our company, the UK fund isn’t pursuing SK Square’s management rights,” said an SK Square official.“We plan to implement measures to increase shareholder value, such as increasing the value of the existing portfolio, making new investments, securitizing non-core assets and increasing shareholder returns, as suggested by Palliser,” he said.
UK-based activist fund Palliser Capital Ltd.is demanding SK Square Co., the investment arm of South Korea’s second-largest conglomerate SK Group, work on measures to boost its corporate value, including increased share buyback and heavier investment in promising sectors.
The Korea Value-up Index is composed of 100 listed “best practice” companies, including big-cap blue-chip companies such as Samsung Electronics Co., SK Hynix, Hyundai Motor Co.and Kia Corp.as well as “new faces” such as BH Co.and Kyung Dong Navien Co.that comply with the government’s corporate value-up program.
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