Broadridge (NYSE: BR) and Korea Securities Depository (KSD) have signed a memorandum of understanding to collaborate on modernizing proxy voting infrastructure for international investors holding Korean equities, according to a press release from the companies.

Under the MOU, the two organizations intend to work toward digitizing and automating the end-to-end proxy voting process for international investors, improving transparency and governance standards, and aligning Korea's capital markets with global practices.

KSD, established in 1974, serves as Korea's central securities depository and provides post-trade services including securities settlement, custody, and collateral management.

Yunsu Rhee, Chairman and CEO of KSD, said the MOU is intended to enhance the global accessibility of Korea's capital market and increase its appeal to international investors.

Tim Gokey, CEO of Broadridge, said the agreement reflects a shared interest in advancing cross-border proxy voting and that combining Broadridge's proxy expertise with KSD's market infrastructure experience presents an opportunity to support shareholder participation in Korea's market.

The MOU states that the scope of collaboration may be expanded over time to additional proxy-related areas. No financial terms were disclosed.