SKC

● SKC’s Annual General Meeting of Shareholders was held on March 26 at its headquarters in Jongno-gu, Seoul, with live online streaming for the second consecutive year to enhance shareholder accessibility.

​● ​New appointments include inside director Jihan Yu and non-executive director Changho Shin, and outside director Siwon Park was reappointed.

​● ​CEO Woncheol Park: “To focus on strengthening the profit structure and stabilizing new businesses in the early phase.”

SKC (CEO Woncheol Park) held its 51st Annual General Meeting of Shareholders (AGM) on the morning of March 26 on Floor 6 of its headquarters at Jongno-gu, Seoul. Following last year, SKC live-streamed the AGM online once again to improve shareholder accessibility. 

As the chair of the AGM, SKC CEO Woncheol Park reported business performance results to shareholders, stating, “Last year, we experienced an unprecedented business environment in which front markets for our major businesses, such as EV batteries, semiconductors, and chemicals, subsided simultaneously.” He further explained, “Despite uncertainty in the business environment, we upgraded our business portfolios by achieving flexibility for front-end processes in non-core businesses of chemicals and semiconductors and investing in high value-added semiconductor back-end processing.”

SKC has also consistently reinforced its ESG management. In July last year, it received an ‘A’ rating from Morgan Stanley Capital International (MSCI), one grade higher than the previous year. Its rating assessed by the Korea Institute of Corporate Governance and Sustainability (KCGS) was also upgraded to ‘A+’ in October of the same year.

“We will strengthen the profit structure of our main businesses, such as copper foil for EV batteries and semiconductor test sockets, and promote early stabilization of new businesses, including semiconductor glass substrates and biodegradable materials,” explained CEO Woncheol Park regarding this year’s business strategies and emphasized, “We will strive for enhanced mid- to long-term sustainability through exhaustive risk management.” After the business report, explanations were provided for questions submitted by shareholders online in advance.

At the AGM, Jihan Yu, SKC’s Chief Financial Officer (CFO) and Head of the Business Supporting Division, was newly appointed as an inside director, and Changho Shin, SK Inc.’s Head of the Portfolio Management Division, as a non-executive director. In addition, Siwon Park, a professor at Kangwon National University School of Law, was reappointed as an outside director.

With these appointments, SKC aims to enhance the Board’s expertise in finance and investment while further strengthening its supervision functions over the management. The reappointment of director Siwon Park also allowed the ratio of female directors among outside directors to remain at 50%. Other bills to approve the financial statements and directors’ remuneration ceilings were passed.

An SKC executive said, “Although the business environment remains uncertain this year, we will overcome it and secure the company’s profitability,” and added, “We promise to make our utmost effort to ensure that the company’s growth leads to increased shareholder value.” [End]