Kocsin is set to hold a board election on May 27, yet a sudden move by Singaporean foreign stakeholder TIH proposing one board seat and three independent director candidates in March has raised tensions. TIH has been accumulating shares since 2020, when Kocsin sold its Jiangsu Taizhou plant, and reached a 1% stake by late 2022. Kocsin's Chairman Hong Swu Tree expressed in an exclusive interview that, despite TIH holding only 1% of the shares and never having communicated with the company, they proposed three independent directors, all of whom are experienced in equity restructuring.

Hong emphasized that conceding even one independent director position is unacceptable, as it implies potentially controlling the audit committee, which could greatly affect company governance and operational direction. Legal experts highlighted the audit committee's power in major asset transactions requiring board approval, needing two-thirds consent from directors if the committee does not agree.

Market reactions have been mixed, with some expressing concern over Kocsin's operations since selling the Taizhou plant, leading to difficulties in communication between investors and Hong. This reflects a broader sense of confusion within Kocsin's shareholder base and the responsibilities that come with managing a company of this scale.