Korea has been reforming its capital markets and corporate governance rules to strengthen minority shareholder protection and make corporate acquisitions more transparent.  As part of this effort, a new mandatory tender offer regime recently advanced through a National Assembly committee.  While its final passage (approval by the National Assembly’s plenary session and subsequent promulgation by the government) has been delayed, there is a ground swell of interest as to what the proposed new rules provide, and how it would affect the capital market and market players.