Samyangsa, 12th Annual General Meeting... Common Stock Dividend 1,250 KRW, Preferred Stock Dividend 1,300 KRW

Samyang Corporation, a chemical and food affiliate of Samyang Group, held its 12th regular shareholders' meeting on the 23rd at the auditorium on the first floor of the Samyang Group headquarters in Jongno-gu, Seoul, where it passed agenda items including amendments to the articles of incorporation and the appointment of directors.

The 12th regular shareholders' meeting held on the 1st floor auditorium of Samyang Group headquarters in Jongno-gu, Seoul on the 23rd. [Photo by Samyangsa]

At the shareholders' meeting, all five agenda items, including approval of the 12th financial statements, amendments to the articles of incorporation, appointment of directors, appointment of audit committee members, and approval of the director remuneration limit, were approved as originally proposed.

For outside directors and audit committee members, Kim Kwang, CEO of the tax firm Seyon, was reappointed, and Yang Ok-kyung, a professor in the Department of Social Welfare at Ewha Womans University, was newly appointed. Following the approval of the 12th financial statements and consolidated financial statements, Samyang decided to pay a cash dividend of 1,250 KRW per common share and 1,300 KRW per preferred share.

Samyang's operating profit last year was 37.8 billion KRW, and sales amounted to 1,998.8 billion KRW.

Choi Nak-hyun, CEO of Samyang Corporation, said, "Last year, Samyang achieved its sales target, but profits deteriorated due to rising raw material prices and logistics costs. This year, we will strengthen the stability of our financial structure and actively respond to changes in the industrial paradigm to overcome the crisis caused by the economic downturn, ensuring sales growth and profitability improvement."