[Public Notice+] Korea Capital, Reappointment of CEO Lee Sangchun Approved at General Meeting

[Asia Economy Reporter Eunmo Koo] Korea Capital has resolved to reappoint CEO Lee Sang-chun at the shareholders' meeting.

Korea Capital announced on the 27th that all agenda items, including approval of financial statements and appointment of directors, were passed at the regular shareholders' meeting held at the KTGO Building in Dunsan-dong, Seo-gu, Daejeon. CEO Lee Sang-chun was successfully reappointed.

Since his appointment in 2017, CEO Lee has improved the company's stagnant performance. The business portfolio, which was previously focused on lease finance, was reorganized evenly into lease finance, retail finance, and corporate finance. Net income, which was 6.2 billion KRW at the time of his inauguration, increased by an average of 84% annually, reaching 21 billion KRW last year.

The company explained that it is making thorough efforts to manage risks amid the recent economic crisis caused by the novel coronavirus. Korea Capital decided to establish a Risk Management Committee through amendments to the articles of incorporation at this shareholders' meeting.

A company official said, “There have been no issues in managing the delinquency rate so far, and the delinquency rate is being checked as the top priority indicator. We expect continued growth this year due to reduced funding costs following the base rate cut and the launch of new products.”