SAMSUNG ELECTRO-MECHANICS

Samsung Electro-Mechanics held the 49th regular general shareholders' meeting at the EL Tower in Yangjae-dong, Seoul at 9 am on March 16. To prevent the spread of COVID-19 and for shareholders who are unable to attend in person, the general shareholders' meeting was also lived streamed online along with the electronic voting system introduced last year.
 
At this shareholders' meeting, the reporting items and additional matters were approved as they are. In the case of the appointment of directors, Lee Yoonjeong was appointed as an independent director, while CEO Chang Duckhyun and Kim Sungjin, Executive Vice President of Business Support Dept, were newly appointed as executive directors. The company decided to pay cash dividends of 2,100 won/share for common stock and 2,150 won/share for preferred stock. The total dividend amount is 158.8 billion won, up about 50% from 105.9 billion won in 2020.

"The global economy is projected to maintain a positive growth trend in 2022, but we still expect to see difficult business conditions due to variants of coronavirus, inflation, and supply chain disruption," said Chang Duckhyun, who was appointed as the new CEO on this day. "All employees of Samsung Electro-Mechanics are committed to achieving the management goals our shareholders expect. We will also practice sustainable management by reflecting ESG, which is increasingly becoming important, in management decision-making. Under the principle of safety first, we will create a workplace where the safety of our employees is our top priority."
 
Lastly, "No. 1 tech companies with unrivaled technology have been able to grow constantly regardless of external factors. Samsung Electro-Mechanics provides next-generation products for IT, such as AI, cloud, and metaverse, as well as for automotive products, including electric vehicles and autonomous driving. We will focus our business capabilities on these two growth pillars and strive to become a 'top tier tech components company' by achieving sustainable growth that surpasses that of competitors and the market," he promised.
 
Meanwhile, Samsung Electro-Mechanics appointed the newly appointed independent director Lee Yoonjeong as the chairperson of the ESG Committee. Lee serves as an advisor to the Ministry of Environment, a member of the Sustainable Development Committee of the Ministry of Environment, and the vice president of the Korean Environmental Law Association.
The ESG Committee was established last year to increase corporate value and improve ESG management by managing and overseeing environmental, social, and corporate governance-related policies and key issues at the board level.
Samsung Electro-Mechanics said, "Independent director Lee Yoonjeong is a lawyer specializing in the environment with in-depth expertise in environmental regulations and legal advice. She is expected to provide practical advice and contribute to Samsung Electro-Mechanics' ESG-centered management and strategy."
 
With the appointment of Lee Yoonjeong as an independent director, Samsung Electro-Mechanics has become the first Samsung subsidiary to increase the proportion of female independent directors to 50%. Samsung Electro-Mechanics has appointed female independent directors since 2014 in an effort to expand gender diversity within the board of directors.
In 2016, Samsung Electro-Mechanics became the first non-financial Samsung subsidiary to appoint an independent director as the chairperson of the Board of Directors to strengthen the independence of the board and responsible management. Currently, independent director Kim Yongkyun serves as the chairperson.