▲ Lee Hyeon-joon, CEO of Ssangyong C&E, speaks at the 61st general shareholders’ meeting held at the City Center Tower in Seoul on the 29th. (Photo courtesy of Ssangyong C&E)
Ssangyong C&E announced on the 29th that it would appoint outside directors from outside experts in environmental science, human resource development, and financial crisis management at the regular shareholders’ meeting and begin strengthening ESG management.
Ssangyong C&E held its 61st general shareholders’ meeting at Seoul City Center Tower on the same day and appointed three new outside directors: Park Young-ah, professor of physics at Myongji University;
Ssangyong C&E plans to proactively strengthen ESG management standards through the appointment of outside directors. The company has been implementing projects to cope with climate and environmental changes, such as establishing the ESG vision ‘GREEN 2030’ and declaring a coal-free management by 2030 for the first time in the cement industry.
Among the newly appointed outside directors, Professor Park Young-ah graduated from the Department of Physics at Seoul National University and received a PhD in physics from the University of Pennsylvania in the US. Dongsoo Kim, vice president, graduated from the Department of Business Administration at Seoul National University and served as the CEO of the Owoon Cultural Foundation and the director of the Kolon Human Resources Development Center. In addition, CEO Baek Seung-hoon graduated from the Graduate School of Economics at Yonsei University and served as the second director of investigation at the Central Regional Tax Service for 37 years in December last year.
At the shareholders’ meeting on this day, last year’s financial statements and consolidated financial statements were also approved. Ssangyong C&E’s consolidated sales last year increased by 18.28% year-on-year to KRW 1,965.042 billion, and operating profit decreased by 11.20% year-on-year to KRW 220.87 billion. Net profit was 127.78 billion won, down 31.29% over the same period.
Ssangyong C&E announced a shareholder return policy that it would purchase and retire treasury stocks with about KRW 20 billion, equivalent to the remaining amount (40 KRW per share), instead of adjusting the quarterly dividend per common share from KRW 110 to KRW 70 from the first quarter of this year. did.
Lee Hyeon-joon, president of Ssangyong C&E, said, “The appointment of outside directors this time is part of the company’s ESG management policy and is a fulfillment of our promise to fulfill our environmental and social responsibilities.”