French asset manager Carmignac Gestion is backing a campaign by UK activist fund Palliser Capital targeting LG Chem Ltd. of South Korea. The partnership aims to improve corporate governance and boost shareholder value at the chemical and battery materials giant.

The activist push comes as LG Chem faces pressure to enhance shareholder returns amid a challenging market environment. Activist investors have increasingly targeted Asian companies for governance reforms, arguing that better alignment between management and shareholders can unlock significant value.

This marks a notable development in cross-border activist investing, with a French fund supporting a UK-based activist in South Korea. The campaign could signal growing international investor interest in LG Chem's corporate structure and strategic direction, potentially influencing other foreign investors' approaches to Korean equities.