The exercise of voting rights enables shareholders to
participate in the decision-making mechanism of a company by
expressing their opinions with respect to its operation. Therefore,
voting agreements, including undertakings in relation to the
exercise of voting rights, are concluded to be effective in the
decision-making mechanism. A shareholder may independently exercise
his/her own voting rights. In this article, general information
regarding voting agreements, the types thereof and legal
characteristics, as well as their functions will be explained in
depth.
Voting Agreements
Shareholders may undertake, by way of voting agreements, not to
use their votes, use them in a particular way or stay noncommittal.
In such agreements, shareholders also may undertake to use their
voting rights in accordance with instruction given before the
general assembly or in line with the suggestion of a specific party
in the general assembly. Since voting rights are strictly
