'IBK Shareholder Proposal' Professor Son Donghwan of Sungkyunkwan University Appointed as Outside Director of KT&G

New Appointment Proposal Passed at the General Meeting on the 28th

Professor Son Dong-hwan of Sungkyunkwan University School of Law, a shareholder proposal candidate from IBK Industrial Bank, was finally appointed as an outside director of KT&G.

According to Industrial Bank on the 28th, the agenda to newly appoint Professor Son Dong-hwan as an outside director was passed at the KT&G regular shareholders' meeting held at the KT&G Talent Development Center that day. The term of the outside director is three years.

Outside Director Son is highly knowledgeable in economic laws such as the Fair Trade Act and Commercial Act, as well as overall corporate management, and is evaluated as a legal expert who can advise management and the company based on law and principles without being swayed by political judgments or public opinion.

Before the shareholders' meeting, the National Pension Service, ISS, Glass Lewis, the Korea ESG Standards Institute, Korea ESG Evaluation Institute, and Sustainvest all recommended supporting the agenda to appoint shareholder proposal candidate Son Dong-hwan from Industrial Bank.

An Industrial Bank official explained, “The appointment of the outside director through this KT&G shareholder proposal will greatly contribute to the advancement of KT&G's governance structure and the responsible role of the board of directors,” adding, “We intend to contribute to enhancing KT&G's value in line with the purpose of the future corporate value-up program.”