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The Market for Corporate Control and Hedge Fund Activism in Korea133)Hwa-Jin Kimtakeovers in the improvement of the corporate governance of Korean companies as exemplified by the KT&G case and other recent takeover cases. Also, this 2007. 3.] 기업 경영권 시장과 헤지펀드 279article accounts various risks that hedge fund activism could bring about. This is particularly important for Korea because Korea expects the new consolidated capital markets law in 207. The new law would revolutionize the Korean capital markets through liberalizing the busines activities of the securities companies and the introduction of new financial products. In recent years, hedge

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