HD Hyundai General Meeting, Vice Chairman Jeong Ki-sun Reappointed as Inside Director

29th 7th Regular Shareholders' Meeting
HD Korea Shipbuilding & Offshore Same Day Shareholders' Meeting
Recruitment of Former National Security Office Chief Kim Seong-han

Jung Ki-sun, Vice Chairman of HD Hyundai, has been reappointed as an inside director. The term for an inside director at HD Hyundai is three years, and Vice Chairman Jung will serve as an inside director until 2027.

On the 29th, HD Hyundai held its 7th regular general shareholders' meeting at the Global R&D Center (GRC) at the HD Hyundai headquarters in Seongnam, Gyeonggi Province, where all five agenda items, including the appointment of directors as proposed, were approved as originally planned.

HD Hyundai newly appointed Seo Seung-hwan, Professor Emeritus of the Department of Economics at Yonsei University, as an outside director and member of the audit committee.

Additionally, the company amended part of its articles of incorporation by adding new and renewable energy-related businesses to its business objectives and reorganizing regulations to guarantee shareholders' voting rights on financial statements.

According to the mid- to long-term dividend policy, the year-end dividend will be 1,900 KRW per share. Including the interim dividend, the total annual dividend per share amounts to 3,700 KRW. HD Hyundai stated that it will continue to pay dividends and pursue various measures to enhance shareholder value.

Jeong Gi-seon, Vice Chairman of HD Hyundai [Photo by HD Hyundai]

At the shareholders' meeting, Kwon Oh-gap, Chairman of HD Hyundai and the meeting chair, said in his opening remarks, “Thanks to the expansion of orders and increased construction volume following last year’s global eco-friendly ship market leadership, the shipbuilding division has returned to profitability for the first time in three years.”

Chairman Kwon added, “Once the acquisition of STX Heavy Industries is completed this year, we will further strengthen our global competitiveness by expanding eco-friendly engine supply capacity and maximizing synergy with the group’s shipbuilding business. We will also diversify our business portfolio in energy, construction machinery, and artificial intelligence (AI) to enhance competitiveness.”

Vice Chairman Jung Ki-sun also attended the shareholders' meeting that day.

On the same day in the morning, HD Korea Shipbuilding & Offshore also held its 50th regular general shareholders' meeting at the GRC.

HD Korea Shipbuilding & Offshore appointed Kim Sung-han, former National Security Office chief, as an outside director (audit committee member). Kim is an elementary school classmate of President Yoon Suk-yeol and served as the first National Security Office chief under the Yoon administration. During the Lee Myung-bak administration, he served as the 2nd Vice Minister of Foreign Affairs and Trade.

Kim Sung-jun, Vice President, was appointed as the new CEO.

HD Korea Shipbuilding & Offshore passed all five agenda items, including the two mentioned above, approval of financial statements, amendments to the articles of incorporation, and approval of the director remuneration limit.