Abstract
Technological innovations in the 21st century, such as big data, algo rithms, artificial intelligence, blockchain, metaverse, and smart contract s, have made us question the efficiency and fairness of the existing m ethods of holding shareholder meeting, and provides the tools to run b usinesses in a more efficient way for those who have traditionally ma de decisions within corporations, and changes the counterbalance that determines who has real decision-making power within the business, and Corona-19 Pandemic has brought the introduction of the virtual s hareholder meeting much faster than we expected. This article discusses how new technologies can revive the sharehol der meeting as the touchstone of shareholder democracy, how can sha reholders open a new way to engage in corporate management, and w hat role can shareholders play in the distribution of roles, powers, and responsibilities of members of a company, how can shareholders stren gthen the role of shareholders’ meetings by reducing joint decision-m aking costs and enabling more efficient voting procedures. There are many critical views on virtual shareholder meetings, but I think that virtual shareholder meeting and hybrid shareholder meeting have many advantages, such as enhancing shareholder participation an d accessibility, active interaction between shareholders, directors and management, reducing carbon footprint, and cost. In particular, I think the expectation that the shareholder meeting, which was criticized for being penalized, will be able to restore its original function is probably the best advantage of the virtual shareholder meeting. However, in order for this system to be fully introduced in Korea, it is necessary to find a desirable solution by collecting critical and divid ed opinions from academia, and to study in-depth foreign cases with more discussion and practical experience before us. It should be possi ble to suggest a legislative direction for improving the corporate gove rnance structure. And I propose to introduce a metaverse technology that can achieve more active interaction and a blockchain technology t hat can secure the reliability of voting right exercise because it is pra ctically difficult to forge and modulate voting data.
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