SPC Samlip Changes Corporate Name to "Samlip" for the First Time in 10 Years

Amendment to Articles of Incorporation at Regular Shareholders' Meeting in March

SPC Samlip will change its name to "Samlip" for the first time in 10 years.

According to the Financial Supervisory Service's electronic disclosure system on February 24, SPC Samlip has submitted an agenda item to amend its articles of incorporation at the regular shareholders' meeting scheduled for March in order to change its corporate name. The proposal calls for changing the current name "SPC Samlip" to "Samlip."

This change of corporate name is a follow-up step to SPC Group's transition to a holding company structure after it launched the holding company "Sangmidang Holdings" last month.

SPC Samlip Sihwa Plant, Siheung, Gyeonggi Province. Photo by Kang Jinhyung

A representative of SPC Samlip explained, "As the group is in the process of adjusting the names of its subsidiaries and affiliated institutions to align with the holding company structure, SPC Samlip is also proceeding with the process of changing its corporate name."

The amendment to the articles of incorporation also includes measures to improve the governance structure. The title "outside director" will be changed to "independent director," and the ratio of independent directors to the total number of directors will be raised from at least one-quarter to at least one-third. The notice period for convening board meetings will also be extended from 24 hours in advance to 7 days in advance so that directors have sufficient time to review the agenda items.