SKC Holds Regular Shareholders' Meeting... "Strengthening Profit Structure Despite Recession"

Appointment of Yoo Ji-han as Inside Director and Shin Chang-ho as Other Non-Executive Director on the 26th at Headquarters in Jongno-gu, Seoul
Reappointment of Park Si-won as Outside Director

Park Won-cheol, President of SKC, is giving a greeting to shareholders at the shareholders' meeting held on the 26th at the headquarters in Jongno-gu, Seoul. Photo by SKC

Park Won-cheol, President and CEO of SKC, announced plans to strengthen the profit structure despite this year's economic downturn.

At SKC's 51st Annual General Meeting held on the morning of the 26th on the 6th floor of the headquarters in Jongno-gu, Seoul, Park stated, "Last year, we experienced an unprecedented business environment where the front markets of key businesses such as secondary batteries, semiconductors, and chemicals simultaneously contracted. Despite the uncertain environment, SKC has advanced its overall portfolio by liquidating non-core businesses in the chemical and semiconductor front-end sectors and investing in high value-added businesses in the semiconductor back-end sector."

Regarding this year's management policy, Park said, "We will strengthen the profit structure of our core businesses such as copper foil for secondary batteries and semiconductor test sockets, and promote the early stabilization of new businesses including semiconductor glass substrates and biodegradable materials." He also emphasized, "We will enhance mid- to long-term sustainability through thorough risk management." Following the management status report, explanations were provided online in response to shareholders' questions submitted in advance.

SKC has also steadily strengthened its ESG management. In July last year, it received an ‘A’ rating, one grade higher than the previous year, from Morgan Stanley Capital International (MSCI), a global ESG rating agency. Additionally, in October of the same year, the rating from the Korea ESG Standards Institute was upgraded to ‘A Plus (+)’.

At the shareholders' meeting, Yoo Ji-han, SKC’s Chief Financial Officer (CFO) and Head of the Management Support Division, and Shin Chang-ho, Head of SK Inc.’s Portfolio Management Division, were newly appointed as inside director and non-executive director, respectively. Furthermore, Professor Park Si-won of Kangwon National University Law School was reappointed as an outside director.

With these appointments, SKC plans to strengthen the board’s expertise in finance and investment fields while further enhancing the board’s core functions such as management oversight. The reappointment of Director Park Si-won maintains the ratio of female outside directors at 50%. Agendas including approval of financial statements and director remuneration limits were also passed as originally proposed.

An SKC official stated, "Although uncertainties in the management environment remain this year, we will overcome them and secure the company’s profitability. We promise our shareholders that we will do our best to ensure the company’s growth leads to increased shareholder value."