Aekyung Group Appoints First Female Outside Director... Accelerating ESG Management

AK Holdings to Hold Extraordinary General Meeting on 28th to Approve Appointment of So-Young Cho as Outside Director
Proactive Response to Capital Market Act

Outside Director So-Young Jo of AK Holdings.

[Asia Economy Reporter Jeon Jinyoung] AK Holdings, the holding company of Aekyung Group, announced on the 28th that it has appointed Professor Cho Soyoung of Pusan National University School of Law as an outside director.

AK Holdings selected Professor Cho as a candidate for outside director in accordance with the outside director candidate recommendation regulations at last month's board meeting, and held an extraordinary general meeting of shareholders on the same day to approve the appointment of the outside director. Subsequently, at the board meeting on the same day, she was also appointed as a member and chairperson of the Governance Committee.

Outside Director Cho is currently a full-time professor at Pusan National University School of Law. She previously served as the president of the Korean Association of Comparative Public Law, and is currently active as a research committee member on constitutional and constitutional adjudication systems (Constitutional Court), an advisory member of the National Assembly's Special Committee on Media Reform, a government work self-evaluation committee member of the Anti-Corruption and Civil Rights Commission, and the next president-designate of the Korean Public Law Association.

AK Holdings stated that it appointed Outside Director Cho as an outside director who will serve as a member of the Audit Committee, believing that she possesses abundant insight and experience in management as a legal expert, aiming to create an opportunity to advance the governance and compliance management system.

Meanwhile, the revised Capital Markets Act specifies that "registered executives should not be selected limited to a specific gender." Accordingly, from August 5, listed companies with assets exceeding 2 trillion won must ensure gender diversity on their boards. Although AK Holdings is not subject to this mandatory application, it has proactively applied this in response to ESG (Environmental, Social, and Governance) management.

Lee Seokju, CEO of AK Holdings, said, “Aekyung Group is voluntarily responding to social demands related to governance by implementing feasible parts for realistic ESG management,” and added, “By appointing a female outside director who is a legal expert, we plan to practice the values of diversity and inclusion pursued by the group, enhance transparency and efficiency of major management issues and governance, and maximize corporate value.”