Nexen Tire Achieves 2 Trillion KRW in Sales, Chairman Kang Byung-jung Reappointed as Inside Director at General Meeting

Nexen Tire Holds 62nd Annual General Meeting of Shareholders

Nexen Tire 62nd Annual General Meeting of Shareholders (Photo by Nexen Tire)

[Asia Economy Reporter Kim Ji-hee] Nexen Tire held its 62nd regular general meeting of shareholders at 11 a.m. on the 24th at its headquarters in Yangsan, Gyeongnam, and reappointed Kang Byung-jung, Chairman of Nexen Group, as an inside director.

At the meeting, the approval of the financial statements and consolidated financial statements, the approval of the appropriation of retained earnings, and the appointment of directors were resolved. Kwon Seung-hwa, CEO of Young Advisor, was appointed as an outside director. CEO Kwon will also serve as an audit committee member.

Last year, Nexen Tire recorded sales of 2.0223 trillion KRW, an increase of 1.9% compared to the previous year, marking the first time in history to surpass 2 trillion KRW in sales. Operating profit increased by 13.7% year-on-year to 207.4 billion KRW.

At this general meeting, a cash dividend was approved, with common stock receiving 105 KRW per share and preferred stock 110 KRW per share, based on a face value of 500 KRW.

Meanwhile, to prevent the spread of the novel coronavirus infection (COVID-19), the Nexen Tire general meeting implemented measures such as installing thermal cameras, conducting fever checks, and verifying mask-wearing.