Palliser's chief investment officer, James Smith, proposed SCT, which has construction, trading and investment, fashion and resort businesses, buy back shares and consider transitioning to a holding company structure, the sources said. A spokesperson for SCT said that "we continuously listen to diverse opinions from shareholders and strive to raise corporate values." For Smith, who launched Palliser two years ago after spending two decades at activist giant Elliott Investment Management, this marks a second investment in SCT after he spearheaded Elliott's failed push to stop the company's merger with Cheil Industries eight years ago. Since the merger, SCT's shares have lagged the Korea Composite Stock Price Index (KOSPI), returning only 3% while the index has climbed 51%. Smith has argued SCT's share price reflects a substantial discount to its listed holdings and no value to its standalone core businesses.