South Korea's largest automaker Hyundai Motor Group has been holding its annual shareholder's meeting this morning.<br />Our business correspondent Kim Hye-sung is at Hyundai Motor's headquarters for more on this story.<br />So Hyesung, what were some of the topics that were discussed?<br />Ji-yoon, this was Hyundai Motor's 51st annual shareholder's meeting.<br />It drew a lot of media and public attention...especially, as U.S. activist hedge fund Elliott Management, issued a public letter,...rallying support for dividend payouts from Hyundai Motor and Hyundai Mobis worth over six billion U.S. dollars.<br />So, the result is, shareholders' voted down Elliott's proposal...a win for Hyundai after it was forced withdraw a controversial restructuring plan after opposition from Elliott last year. <br />Eighty-six percent of shareholders voted for Hyundai Motor's original proposal of paying one billion dollars in payouts, arguing Elliott's proposals would hamper future investments and acquisitions.<br />Only 14 percent voted for Elliott's proposal.<br />There was a 69 percent vote for auto parts affiiliate Hyundai Mobis's original dividends payout plan.<br />Also, Hyundai Motor's recommendation for three outside directors passed, including vice chairman at UBS Wealth Management Yoon Chi-won,....all getting over 70 percent of votes in favor.<br />Three executive directors, including Vice Chairman Chung Eui-sun, Co-president Lee Won-hee, Head of R&D Albert Biermann have been voted to serve as executive directors of Hyundai Motor. <br />This paves the say for Chung Eui-sun to take over as group chairman from his father Chung Mong-Koo.<br /><br />Thanks, Hyesung. Other big corporate names, including Samsung BioLogics, have been holding shareholders' meetings too? Can you tell us what was discussed? <br />Right, For Samsung BioLogics, a biopharmaceutical arm of Samsung Group.... the shareholders' meeting came a day after the National Pension Service said it opposes the company's key proposals, citing the financial regulator's imposition of fines against Samsung Biologics for its alleged accounting fraud. <br />But all of its proposals, including the approval of the financial statement and the appointment of inside and outside executives passed.<br />That's all I have for now.<br />Back to you, Ji-yoon. <br />
