#South Korea #Seoul #KT&G #AGM 2025

KT&G's 38th Annual General Meeting: Key Takeaways

On March 26, 2025, KT&G Corporation, listed on the Korean Exchange (KRX: 033780), successfully concluded its 38th annual general meeting (AGM) at the KT&G Human Development Center in Seoul. With significant attendance from shareholders, KTG’s leadership presented essential agenda items related to corporate governance and shareholder returns that were met with unanimous approval.

Agenda Highlights

The primary items discussed included the approval of financial statements, the allocation of retained earnings, and crucial amendments to the articles of incorporation (AoI). The AGM also addressed the appointment of directors and the remuneration framework for the board members. All proposed topics received solid backing from the shareholders gathered at the event.

One of the standout decisions made during the meeting was the proposal for a year-end dividend of KRW 4,200 per share. This decision represents a notable increase, resulting in an annual total of KRW 5,400 when combined with the interim dividend of KRW 1,200 paid in the previous year. This upward revision by KRWG signals the company's strong performance and commitment to maximizing shareholder value.

Amendments and Appointments

The meeting also introduced amendments aimed at refining governance. Notably, these alterations included clarifying the guidelines for the number of directors on the board, strengthening provisions for appointing audit committee members, streamlining the presidential appointment process, and modifying quarterly dividend record dates. These changes reflect a commitment to ensure that board decisions resonate with all shareholders, enhancing transparency and accountability.

During the meeting, Sang-Hak Lee was appointed as an inside director, recognized for his notable contributions as COO in driving corporate profitability and substantial shareholder value. Furthermore, shareholders re-elected Kwan-Soo Shon, the former CEO of CJ Logistics, and Jee-Hee Lee, the current CEO of W-WORKS, to serve as outside directors. Shon received an additional appointment to the audit committee following his impactful tenure.

A Commitment to Shareholder Value

Following the AGM, KT&G celebrated its 38th anniversary with a gathering of around 270 participants, including both management and employees. CEO Kyung-Man Bang outlined the company's strategic vision, emphasizing that enhancing profitability and driving growth are paramount to elevating corporate value. He highlighted the successful expansion in direct overseas markets as a crucial step toward boosting the global cigarette business.

Bang conveyed confidence that the company's strategic pivot towards 'Modern Products,' shifting focus from traditional cigarettes, was integral to reinforcing KT&G's market leadership. He affirmed that the company would maintain vigilance to adapt to market changes swiftly and effectively.

As KT&G moves forward, the outcomes of this AGM lay a robust foundation for improved governance structures and set the stage for sustainable growth. The management's commitment to shareholder engagement and value creation is unwavering, reflecting KTG's ambition to thrive amidst an evolving industry landscape.

This AGM signals not just the approval of fundamental agenda items, but also a strong promise for stakeholders as KT&G gears up for another promising fiscal year, aspiring towards transparency, innovation, and sustained profitability in the years ahead.