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Samsung Electro-Mechanics Holds its 50th Ordinary General Meeting of Shareholders

▶Held an ‘Open General Meeting of Shareholders’ for communication between the shareholders and the management
- CEO Chang Duckhyun announced the company's mid-to-long term visions and goals via personal presentation
- "To diversify the business structure with a focus on the abilities in the prominent business areas such as automotive product/server and to faithfully perform the social responsibilities via transparent disclosure of ESG information
- E-voting system and on-line broadcasting of general meeting of shareholders for shareholders’ convenience
▶Approval of the entirety of the four agendas (including the appointment of directors)
- New appointment of Outside Director Choi Jonggu and re-appointment of Outside Director Yuh Yoonkyung
- Maintain the percentage of female outside directors at 50%


At 9:00 A.M. on March 15, Samsung Electro-Mechanics held its 50th ordinary general meeting of shareholders at EL Tower, located in Yangjae-dong, Seoul. For this general meeting of shareholders, Samsung Electro-Mechanics also made e-voting system and on-line broadcasting available for the convenience of the shareholders who are unable to participate on-site.


In this general meeting of shareholders, certain report items and approval of financial statement, appointment of outside directors and audit committee members and approval of ceiling amount for directors’ remunerations were approved as originally submitted. As for the appointment of outside directors, Director Choi Jonggu was newly appointed and Director Yuh Yoonkyung was re-appointed. Director Kim Joonkyung was retired due to expiration of term of service. It was determined to pay a total of KRW 158.8 billion as dividends at the price of KRW 2,100 and KRW 2,150 for common shares and preferred shares, respectively.    


On this day, unlike other previous general meeting of shareholders held in a solemn mood, CEO Chang Duckhyun provided a presentation in person, thereby arranging for a proactive and genuine place of communication, together with Samsung Electro-Mechanics’ management status and future visions, etc. elaborated to the shareholders.


The CEO said that “while Samsung Electro-Mechanics had faced lower performances YoY in 2022 due to adverse management environments such as global economic recession, Samsung Electro-Mechanics succeeded in reinforcing its competitiveness of the product groups with foreseeable growth and re-organizing high value-oriented project portfolios, thereby improving the portion of its automotive product business up to two-digits.”


The CEO explained the business strategies, saying that “Samsung Electro-Mechanics will diversify its business structure with a focus on the growing industries such as servers/automotive products in its major businesses including MLCC, camera module and semi-conductor substrate, simultaneously upon setting up for the future markets such as robotics/green energy on a step-by-step basis, in order to become a top-notch tech component company.”  


Lastly, the CEO added that "Samsung Electro-Mechanics desires to become a steadily and continuously growing company without regard to the market conditions together with its continuous technical innovations and No. 1 products," and that "as the 50th anniversary of incorporation, 2023 will be the starting point for Samsung Electro-Mechanics to set up for the '100-year company'."


In the meantime, with an aim to expand the diversity of its board of directors, Samsung Electro-Mechanics has been appointing female outside directors since 2014, and has maintained the percentage of its female outside directors at 50% by re-appointing Director Yuh Yoonkyung at this general meeting of shareholders.


In addition, in pursuit of strengthening the independence of board of directors and the guaranteed management, Samsung Electro-Mechanics appointed its outside director to serve as the Chairman for the board of directors in 2016, for the first time among Samsung's non-financial affiliates, and Outside Director Kim Yongkyun has taken the chair presently. Moreover, any and all sub-committees within the board of directors, excluding the management committee, fully consist of outside directors.  

※ Samsung Electro-Mechanics’ board of directors consists of three inside directors and four outside directors (including two female outside directors), and six sub-committees (including Management Committee, Audit Committee, Outside Director Candidate Recommendation Committee, Related-Party Transaction Committee, Compensation Committee, ESG Committee) are established and under operation currently within the board of directors.


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