● SKC’s 50th Ordinary General Meeting of Shareholders was held on March 28, strengthening shareholder communication through CEO presentation and live online streaming.

● The original bills were passed, including the appointment of Eunmi Chae and Jeongin Kim as outside directors. SKC will continue to reinforce the Board of Directors and enhance shareholder value.

SKC (CEO & President Woncheol Park) held its 50th Ordinary General Meeting of Shareholders (AGM) on Floor 6 of its headquarters at Jongno-gu, Seoul, on the morning of March 28. 

This year, for the first time in its history, SKC live-streamed the General Meeting of Shareholders online, significantly improving shareholder accessibility. As the chair of the AGM, SKC CEO & President Woncheol Park personally delivered a presentation to shareholders, reporting on last year’s performance and this year’s business principles. He also answered shareholders’ questions submitted online in advance.

“We secured approximately KRW 1.6 trillion financial resources for growth after selling the film business and continued to expand the EV battery materials business as we completed Jeongeup Plant 5 and started building a plant in Poland,” said CEO & President Park about SKC’s business performance last year. He further explained, “We also pursued new businesses in semiconductors and eco-friendly materials by becoming the world’s first to commercialize DPG-only process and starting the construction of production facilities for semiconductor glass substrates.” SKC’s last year’s performance included solid ESG achievements, such as establishing a roadmap to promote 2040 Greenhouse Gas Net Zero.

As for this year’s business principles, CEO & President Park emphasized, “We will achieve our vision of becoming a global ESG materials solution provider that offers differentiated products and solutions through global expansion and super-gap technological edge in areas including EV batteries, semiconductors, and eco-friendly materials.” On the same day, SKC announced that 2023 key focus areas selected to achieve its vision of becoming a global ESG materials solution provider are enhancing the competitiveness of its main businesses, expanding new growth businesses, and risk management precision.

CEO & President Park said, “This year, we plan to enhance the competitiveness of our main business areas through global expansion and augmented sales of copper foil business and by increasing the proportion of high value-added products in semiconductors and chemicals businesses,” and added, “In addition to commercializing glass substrates, biodegradable materials, and silicon anodes, we will expand new growth businesses through further mergers and acquisitions (M&A).” He also explained that the company would seek enhanced business stability with scenario-_ base_d risk management.

At the AGM, multiple bills were passed to appoint Eunmi Chae as an outside director and Audit Committee commissioner, Jeongin Kim as an outside director, Junsik Chae as a non-executive director, and Siwon Park as an Audit Committee commissioner. With the appointment of director Eun-mi Choi, who previously worked for a global enterprise, SKC increased the proportion of women among outside directors to 50%. Director Jeong-in Kim is a start-up founder who is a hard-to-find member on the boards of conglomerates with expertise in strategy, finance, and M&A.

The original bills to approve the financial statements and directors’ remuneration ceilings were also passed at the AGM. An SKC executive said, “Thanks to shareholders’ support, SKC has strengthened the board’s diversity and expertise while gearing up for business innovation this year. We will do all we can to increase shareholder value further.” [End]

[SKC CEO & President Woncheol Park is reporting this year’s business plans at the 50th Ordinary General Meeting of Shareholders held at SKC headquarters in Jongno-gu, Seoul, on March 28.]