After Leading DRAM Development and the Future Technology Research Institute
"Top In-house Technology Expert to Strengthen Leadership"
Agenda Items Include Appointment of Outside Directors and Amendments to Articles of Incorporation
President Cha Seonyong, who serves as Head of the Future Technology Research Institute at SK Hynix, has been nominated as the new inside director of SK Hynix.
On the 25th, SK Hynix announced that it will hold its 78th Annual General Meeting of Shareholders on March 25 at its headquarters in Icheon, Gyeonggi Province. At this shareholders' meeting, agenda items such as the appointment of inside and outside directors, approval of the financial statements, partial amendment of the Articles of Incorporation, approval of the limit on directors' remuneration, reduction of capital surplus, and revision of the regulations on executive severance pay are scheduled to be tabled.
President Cha previously served as Head of DRAM Development and has been Head of the Future Technology Research Institute since 2022. He will take over the role of inside director following President Ahn Hyun, Head of Development, who served as an inside director for the past two years.
Regarding the background to appointing President Cha as a new director, SK Hynix stated, "He was appointed as an inside director to provide candidates for the Chief Executive Officer (CEO) position with opportunities to participate in key internal decision-making so that they can develop management insight from a company-wide perspective," adding, "As the company's top technology expert, he is expected to contribute to strengthening technology leadership in this time of rapid change."
Former Chairman of the Financial Services Commission Koh Seungbeom and Attorney Choi Kanguk of law firm Gaon have been nominated as new outside director candidates.
Former Chairman Koh previously served as a member of the Monetary Policy Board at the Bank of Korea. SK Hynix cited as a reason for his nomination the need to maintain and strengthen the company's financial soundness in the semiconductor industry, where large-scale investments are required. Attorney Choi has built expertise over 24 years in the United States in areas such as mergers and acquisitions (M&A), restructuring, and cross-border investment management. SK Hynix stated that, given the company's ongoing diverse investments at home and abroad, Attorney Choi was nominated to strengthen capabilities related to investment execution and management.
In addition, President Kim Jeonggyu of SK Square, who will be appointed as another non-executive director, is expected to support swift decision-making by securing a smooth communication channel with the holding company.
Meanwhile, for the Audit Committee, SK Hynix plans to appoint former outside director Kim Jeongwon, Advisor at Kim & Chang, together with new outside directors Koh Seungbeom and Choi Kanguk as committee members.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
