#South Korea #Daejeon #KT&G Corporation #Sang-Hak Lee #Kwan-Soo Shon

KT&G Corporation's Annual General Meeting Set for March 2025

KT&G Corporation, a prominent player in the tobacco industry, is gearing up for its 38th Annual General Meeting of Shareholders (AGM) scheduled for March 26, 2025. This important event will take place at the KTG Human Resources Development Institute located in Daejeon, South Korea. The meeting will address several key topics and decisions vital to the company's governance and future direction.

Key Agenda Items

Growing anticipation surrounds the AGM, as it will include the approval of financial statements and discussions on the appropriation of retained earnings. This meeting will also see the consideration of partial amendments to the articles of incorporation which aim to streamline some internal processes.

Specific amendments include clarifying the number of directors, refining the appointment methods for audit committee members, and adjusting quarterly dividend record dates. More prominently, the meeting will address pivotal appointments: one inside director and two outside directors.

Inside Director Appointment

The Board of Directors has put forth Chief Operating Officer and Senior Executive Vice President Sang-Hak Lee as the candidate for the inside director role. Lee, who is also the Chief Financial Officer (CFO), has been crucial in shaping the company's strategic direction, reinforcing KT&G’s ambition to become a global top-tier enterprise. His numerous contributions and insight into corporate policies highlight him as an exceptionally qualified candidate anticipated to propel KT&G towards a robust future.

Outside Director Candidates

The outside director nominations include Kwan-Soo Shon and Jee-Hee Lee, both of whom have served on the Board for the past three years.

Kwan-Soo Shon, former CEO of CJ Logistics, brings significant expertise in manufacturing and logistics to KT&G. His strategic insights have been instrumental in establishing long-term investment frameworks. If appointed, he will also serve on the audit committee, applying his experience to oversee the company's financial and operational activities.

On the other hand, Jee-Hee Lee, currently the CEO of W.WORKS, has had a noteworthy impact on marketing global brands and implementing effective product-launch strategies. As chair of the sustainability committee, she has successfully integrated an ESG (Environmental, Social, and Governance) management system within the company, underscoring her commitment to sustainable practices.

Communication and Governance

In preparation for the AGM, a KT&G spokesperson emphasized the company’s dedication to transparent communication with shareholders and stakeholders, highlighting efforts to enhance main business competitiveness and robust shareholder return plans. The proactive governance structure is designed to maximize not just corporate value, but also the interests of all stakeholders involved.

As the date approaches, many industry analysts and shareholders are keenly observing KT&G’s strategic moves, particularly in how these appointments and decisions at the AGM will influence the company's trajectory in the competitive landscape of the global market.

With robust leadership and a clear vision, KT&G aims to navigate the opportunities and challenges ahead, strengthening its position within the industry while fostering long-term growth and sustainability.