SEOUL: A Seoul hedge fund is making a massive bet that hinges on changes in the chronic issue of South Korea’s corporate governance.
In August, Must Asset Management, a 500 billion-won (US$430mil) long-only hedge fund, said in a filing that it would become more actively engaged with a local builder it has a stake in: Taeyoung Engineering & Construction Co. Then in December, it proposed that the company, which owns several valuable subsidiaries, set up a body to improve governance.
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