Samsung Electronics wins ISS prize in corp. governance

Samsung Electronics will be among five companies awarded prizes in the corporate governance from the Institutional Shareholder Service (ISS), a U.S. organization.

headquartered in Washington, D.C.. The organization provides consulting services and advice the exercise of voting rights to about 20,000 firms in around 80 countries.

This is the first time that a Korean firm has been awarded a prize by the ISS.

A source at Samsung Electronics said the ISS praised Samsung Electronics' achievements in the following areas: encouragement of shareholder-oriented management, efforts to globalize through continuous restructuring, expansion of the ratio of outside directors by one-third and reduction of the number of directors, expansion of the board of directors¡¯ responsibilities to shareholders and establishment of a fair auditing process.

Park Won-Jae parkwj@donga.com