Green Cross Holds Annual General Meeting... English Company Name Change and Dividend of 2,000 KRW per Share

[Asia Economy Reporter Chunhee Lee] GC Green Cross announced on the 29th that it held the 53rd regular general meeting of shareholders at its R&D Center in Yongin, Gyeonggi Province.

At the shareholders' meeting, GC Green Cross reported business results of KRW 1.5378 trillion in consolidated sales and KRW 73.7 billion in operating profit for the previous year. It also reappointed CEO Euncheol Heo and Namgoong Hyun, head of domestic sales, as inside directors, and approved the reappointment of outside director Professor Chunwoo Lee of the University of Seoul Business School and auditor Youngtae Lee, former chairman of the Credit Guarantee Fund Risk Management Committee, as originally proposed.

Heo Euncheol, CEO of GC Green Cross and chairman of the meeting, said, "We aim to build on last year's qualitative growth while securing research and development (R&D) competitiveness," adding, "We will improve profitability through business solidification and expand our innovative drug portfolio focused on rare diseases."

GC Green Cross also amended part of its articles of incorporation to change its English trade name. The English name was changed from 'Green Cross Corporation' to 'GC Biopharma Corp.' The company explained that the 'GC' brand, derived from the initials of 'Green Cross,' emphasizes the brand and signifies the expansion of global business capabilities, including vaccines and blood products.

On the same day, the parent company GC (Green Cross Holdings) also approved an amendment to its articles of incorporation, changing its English trade name from 'Green Cross Holdings Corporation' to 'GC Corp.'

At the shareholders' meetings held the previous day for affiliates such as GCell, GC Green Cross MS, GC Green Cross Wellbeing, and Ubicare, all proposed agendas were passed. Among them, GC Green Cross MS appointed Sa Gong Younghee as the new CEO following the retirement of CEO An Eunok due to term expiration.

Cash dividends were also confirmed at the shareholders' meeting. GC Green Cross decided on a dividend of KRW 2,000 per share, GC decided on KRW 400 per share for common and second preferred shares, and KRW 405 per share for first preferred shares. GC Green Cross Wellbeing decided on KRW 80 per share, and Ubicare decided on KRW 40 per share as dividends.