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Samyang Corporation Holds the 8th Regular Shareholders’ General Meeting and Board Meeting Print
Affiliates Samyang Corp Writer administrator Hits 60 Date 2019.04.01

- Sales of KRW 1.666 trillion and pre-tax profit of KRW 42.7 billion in 2018… cash dividends of KRW 1,500 per common stock, KRW 1,550 per preferred stock
- This year’s sales target set at KRW 1.819 trillion, pre-tax profit of KRW 76.9 billion
- Song Ja-ryang appointed COO at board meeting, Song jaryang and Park sooncheol to operate their own respective representative systems

Samyang Corporation held its 8th regular shareholders’ general meeting on March 21 in the auditorium on the first floor of its headquarters in Jongno.

 

At the meeting, five items were passed in their original forms (as proposed), including the eighth financial statement, the partial amendment of the articles of association, the appointment of a board member, the maximum compensation for the board member, and the maximum compensation for auditors.

 

In the business report, Samyang Corporation reported sales of KRW 1.666 trillion with a pre-tax profit of KRW 42.7 billion for 2018, and according to the eighth financial statement, cash dividends of KRW 1,500 per common stock and KRW 1,550 per preferred stock were voted on and approved.

 

At the subsequent the board meeting, Song jaryang was appointed as the COO, and as a result, Samyang Corporation will be operated based on a double-representative system led by Park sooncheol and Song jaryang.

 

COO Park sooncheol stated in his welcome speech, “This year, Samyang Corporation will achieve the sales target of KRW 1.819 trillion with a pre-tax profit of KRW 76.9 billion by overcoming worsening profitability due to the commercialization of existing products and intensifying competition. The company will focus on pursuing growth, securing cash liquidity, and digital innovation.”

 

Meanwhile, Samyang Corporation introduced an electronic voting system at the shareholders’ meeting. Electronic voting is regarded as an exemplary system for protecting shareholders’ rights as it enables them to exercise their voting rights without attending the meeting.

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