SEOUL, March 16 : London-based hedge fund Palliser Capital said South Korea is becoming more receptive to foreign shareholder activism, with local investors joining more efforts to challenge how family-controlled conglomerates do business.   Palliser has sought changes to unlock greater shareholder value at South Korean petrochemical company LG Chem, including cutting the firm's 80 per cent stake in subsidiary LG Energy Solution. James Smith, Palliser's chief investment officer who previously