Chosun Ilbo Headlines

- Ministry of Justice proposes a ‘Golden Share’ bill under which a single share of stock can effectively block hostile attempts against management control such as hostile M&A. Ministry of Finance and Economy, however, opposes the plan, saying the protective measure does not in line with international standard and might erode companies’ competitiveness.

- Hyundai chairman Chung Mong-koo was released on bail of W1 bn yesterday, 61 days after his arrest on April 28. The court said the chairman acknowledged his responsibility for creating slush funds and prosecutors’ investigation into the company neared an end so there was little possibility for the suspect to run away or destroy evidence.

- “Mama, it’s me. I’m your youngest. Now I will take good care of you,” said Kim Young-nam who was abducted by the North 28 years ago when he was the first grader in high school. Kim will have a press conference this afternoon and talk about details on his abduction and his wife Megumi’s death.