Korean Court Expected to Rule on Flashlight Capital’s Suit Against KT&G Directors
Flashlight Capital Partners, a Singapore-based activist fund, has sold more than half of its 0.5% stake in KT&G after a three-year campaign and is pressing for the company to sue incumbent and former directors, including the CEO, over alleged governance misalignment with shareholder interests. A Korean court will rule next month on the activist’s lawsuit, while the fund also proposed buying KT&G’s ginseng business for $1.4 billion.