Kim Yeon-seop "Lotte Energy Materials Focuses on Overseas Factory Expansion and New Material Development"

Lotte Energy Materials 37th Annual General Meeting on the 25th
Cash Dividend of 200 KRW per Share... New Outside Director: Lee Pil-jae

Kim Yeonseop, CEO of Lotte Energy Materials, stated on the 25th, "To strengthen the global supply chain, we will focus on expanding overseas factories and researching and developing new materials such as solid electrolytes to lay the foundation for sustainable corporate growth."

In his greeting at the 37th regular general shareholders' meeting held in the conference room of Iksan Plant 1, Jeonbuk, Kim said, "This year is expected to be challenging due to global downward economic pressures and a slowdown in demand growth in the electric vehicle market, which is a key downstream industry."

Kim emphasized, "Despite the worsening domestic and international economic conditions last year, we were the only domestic copper foil company to achieve increased sales and operating profit in the difficult business environment." He added, "Although operating performance significantly declined compared to the previous year, we implemented cash dividends to continuously enhance shareholder value and realize shareholder return policies."

At the shareholders' meeting, six agenda items were presented and all passed as originally proposed, including ▲approval of the 37th financial statements ▲approval of amendments to the articles of incorporation ▲appointment of directors ▲revision of executive retirement pay regulations ▲approval of limits on directors' and auditors' remuneration, among others.

According to the statement of appropriation of retained earnings included in the approval of the financial statements, a cash dividend of 200 KRW per share will also be paid.

On the 25th, CEO Kim Yeon-seop is responding to shareholder questions at the 37th regular general meeting of shareholders held at Lotte Energy Materials Jeonbuk Iksan Plant 1.
[Photo by Lotte Energy Materials]

New outside director appointee is environmental expert Lee Piljae, former chairman of the Korea LPG Association. Director Lee has served as the Director of Environmental Health Policy at the Ministry of Environment, Director of the Hangang River Basin Environmental Office, and Chairman of the Central Environmental Dispute Mediation Committee.

Lotte Energy Materials plans to enhance its ESG capabilities this year by receiving various environmental advice and suggestions from the new outside director to increase corporate value.

Last year, Lotte Energy Materials recorded consolidated sales of 809 billion KRW and operating profit of 11.8 billion KRW. Sales increased by 11% compared to the previous year, while operating profit decreased by 86%.