KT Skylife Reappoints CEO Kim Cheolsu at Regular General Meeting

Shareholders' Meeting and Board of Directors Held at Sangam-dong Headquarters... CEO Kim Cheolsu Reappointed
Approval of 2020 Financial Statements Passed... Cash Dividend of 350 KRW per Share Confirmed

[Asia Economy Reporter Eunmo Koo] KT Skylife held its 20th regular general shareholders' meeting and board of directors meeting on the 31st, reappointing the current President and CEO Kim Cheolsu as CEO.

At the shareholders' meeting held at the headquarters building in Sangam-dong, a total of six directors, including CEO Kim Cheolsu, were appointed following the expiration of the existing board members' terms.

Inside directors reappointed were President Kim Cheolsu and Vice President Hong Giseop, and Professor Kim Taekhwan of Kyonggi University was reappointed as an outside director. Professor Han Sangik of Gachon University was appointed as an outside director serving as an audit committee member, and Kim Hunbae, Head of KT Media Platform Business Division, and Kim Youngwoo, KT Group Management Office Director, were appointed as other non-executive directors.

The newly appointed outside directors?Attorney Kim Taeyong, CEO of the law firm Hwahaeon, KBS Strategic Planning Director Guk Eunju, and former Daelim University Administrative Director Kwon Haengmin?have terms lasting until next year's shareholders' meeting.

Through this shareholders' meeting and board meeting, KT Skylife formed a board of nine directors with a majority of five outside directors and newly established a Social Contribution Committee under the board. KT Skylife plans to guarantee the independence and autonomy of board operations and maximize the effectiveness of social contribution projects to strengthen the public nature of satellite broadcasting.

At the shareholders' meeting, CEO Kim Cheolsu stated, "Last year, we transformed from a single satellite broadcasting operator into a genuine TPS operator, and this year, we plan to successfully complete the acquisition of HCN first," adding, "We will focus on the TPS market to establish ourselves as the fourth broadcasting service platform in customers' hearts."

At the meeting, besides the agenda for director appointments, the 'Approval of the 2020 Financial Statements' was resolved, and a cash dividend of 350 KRW per common share was confirmed.