Seoul, South Korea - Colosseum Corporation announced that it has adopted a dual-class share system, becoming the first private startup in the country to do so.
The move comes with the support of the South Korean Ministry of SMEs and Startups, which sees the mechanism as a way to facilitate the growth of promising startups.
Dual-class shares grant greater voting rights to specific shares, allowing founders to maintain control while attracting significant investment.
Colosseum plans to use this structure to fund expansion into global markets, including the U.S., Japan, and Southeast Asia, focusing on cross-border logistics solutions.
While dual-class shares have spurred immense growth for some, the system has its critics, who worry about diluted accountability as founders retain outsized power.
Colosseum, however, has received unanimous approval from its shareholders.
