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Company 2021.03.17

Samsung Electro-Mechanics hosts 48th General Meeting of Shareholders

◇ 4 agendas, including the approval of the directors’ compensation limit, were all approved
◇ To prevent the spread of COVID-19 and for the convenience of shareholders, the online voting system was implemented and the shareholders’ meeting was live-streamed online
◇ An “open shareholders’ meeting” through communication between the shareholders and management was hosted

   · CEO Kyung Kyehyun presented the company’s mid and long-term vision and target, including the strengthening of ESG management
   · Products were introduced within the meeting hall, and a separate exhibition booth was prepared for product introductions and marketing videos

At 9am on the 17th, Samsung Electro-Mechanics hosted its 48th General Meeting of Shareholders at L-Tower in Yangjae-dong, Seoul. During this general meeting of shareholders, to prevent the spread of COVID-19 and for the convenience of shareholders who may find it difficult to visit in person, it implemented an online voting system and live-streamed the general meeting of shareholders online. 

ㅣImproving shareholder communication
By moving away from its previous rigid ambience, Samsung Electro-Mechanics provided an opportunity for proactive and honest communication with shareholders. In order to prevent the spread of COVID-19 and due to geographical issues, shareholders who were not able to attend the general meeting of shareholders in person were able to live-stream the meeting online, and by allowing management to answer questions that were registered online or at the meeting, it was able to improve communication.
Through separate exhibition booths installed at the general meeting of shareholders site, the firm introduced its next-generation key products, including MLCC and camera modules, and shareholders were able to observe the company’s vision and targets, including ESG management-related initiatives, all at once.

ㅣAll 4 agendas submitted were all approved
At this general meeting of shareholders, all submitted agendas, including the approval of the financial statements, nomination of an internal director, nomination of an external director for the Audit Committee, and approval of directors’ compensation limits, were all approved without change.
In the case of the nomination of a director, external director Kim Yongkyun was nominated as an Audit Committee member, and Kim Dooyoung (Head of Components Business) was newly nominated as an internal director. Hur Kangheon, a previous internal director, was removed after serving a full term.
For dividends, KRW 1,400 for common shares and KRW 1,450 for preferred shares were approved for payments, which amounts to a total of KRW 105.9 billion, a 27% increase from KRW 83.2 billion in 2019.

ㅣCEO Kyung Kyehyun presents the company’s vision and target, including ESG management initiative plans
On this day, CEO Kyung Kyehyun explained in detail to the shareholders regarding Samsung Electro-Mechanics’ current situation, organizational culture, and vision.
He explained, "Due to issues with the global economy and acceleration of national protectionism, we expect the business environment to be tough, but with opportunities, such as the increase in supply of 5G, generalization of the virtual lifestyle, we expect related markets to grow. For ESG management, which is increasing in importance, Samsung Electro-Mechanics plans to establish the “Sustainability Office“, and prioritize the securing of stable profit (Profit), pursuit of happiness for the members of society (People), and realization of environmental responsibility (Planet) in order to pursue harmonious growth with society.”
Furthermore, Mr. Kyung promise to the shareholders, “By strengthening of technological leadership and innovation of manufacturing capabilities, we will improve business competitiveness, and based on a global compliance culture that abides by regulations and laws, we will pave a foundation to achieve our vision of becoming the “best growth company”.

ㅣImproving the independence and responsible management of the Board of Directors
In order to improve the independence of the Board of Directors and for responsible management, in 2016, among the non-financial subsidiaries of Samsung, Samsung Electro-Mechanics was the first to nominate an external director as the Chairman of the Board of Directors, and currently, external director Kim Yongkyun holds the position of chairman. Furthermore, in order to improve the objectivity and transparency of the Board of Directors, all sub-committees within the Board of Directors, excluding the Management Committee, are comprised only of external directors.


※ Samsung Electro-Mechanics’ Board of Directors is comprised of 3 internal directors and 4 external directors (including 1 female director), and within the Board of Directors, 5 sub-committees are currently in operation, including the Management Committee, Audit Committee, External Director Recommendation Committee, Internal Trading Committee, and Compensation Committee. 

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