Jaewook Park, CEO of Socar, has successfully been reappointed.
Socar announced on the 28th that at the regular shareholders' meeting and board of directors meeting, the reappointment of CEO Jaewook Park and the re-election of Kang Sangwoo, Chief Executive Officer of Central Group, as an outside director were approved. Jayoung Yoon, a non-standing director from Musinsa, and Junman Lee, a professor at Seoul National University Business School, were also elected as outside directors. Hyunae Geum, CEO of Yellowdog, was selected as a non-standing director.
In addition, at the regular shareholders' meeting, eight agenda items were approved as originally proposed, including the approval of the audit report and business report, partial amendments to the articles of incorporation, appointment of audit committee members, approval of previously granted stock options, and granting of stock options.
At the board meeting held after the shareholders' meeting, CEO Jaewook Park was re-elected as the representative director for a three-year term until the 2027 shareholders' meeting. The board formed committees centered on outside directors to establish an independent and transparent governance structure. The audit committee was composed solely of two outside directors and non-standing directors, and the outside director nomination committee, compensation committee, and ESG committee were also composed with a majority of non-standing and outside directors to maximize operational independence and transparency. Furthermore, Socar explained that among the nine board members, three (over 30%) are women, and experienced outside directors from diverse fields were newly appointed.
Jaewook Park, CEO of Socar, stated, "Through this shareholders' meeting and board meeting, the board structure supporting the advancement of Socar's mid-to-long-term growth strategy, 'Socar 2.0,' and the overall mobility platform business has been established."
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