LG Electronics Approves Articles of Incorporation Amendments for Medical Device Sales and Blockchain at General Meeting of Shareholders

LG Electronics, 20th Annual General Meeting of Shareholders

[Asia Economy Reporter Park Sun-mi] LG Electronics passed an amendment to its articles of incorporation at the 20th General Meeting of Shareholders held on the 24th, adding medical device manufacturing and sales, blockchain-based software development, and other business purposes.

On the 24th, LG Electronics held the 20th General Meeting of Shareholders at the LG Twin Towers in Yeouido, Seoul. The main resolutions included approval of financial statements, approval of amendments to the articles of incorporation, appointment of directors, appointment of audit committee members, and limits on directors' remuneration.

The proposal to pay dividends of 850 KRW per common share and 900 KRW per preferred share was approved. In addition, the amendment to the articles of incorporation adding business purposes such as "manufacturing and sales of medical devices," "licensing of intellectual property rights including patents," "development and sales of blockchain-based software, trading and brokerage of crypto assets," and "manufacturing and sales of functional materials such as glass powder" was also passed.

Professor Lee Sang-gu of Seoul National University’s Department of Computer Science was reappointed as an outside director, and Associate Professor Ryu Chung-ryeol of KAIST Graduate School of Finance specializing in accounting was newly appointed as an outside director. The proposal to set the directors' remuneration limit at 9 billion KRW, the same as last year, and the proposal to newly appoint Lee Sang-gu and Ryu Chung-ryeol as audit committee members were all approved as originally proposed.