POSCO Expands Electronic Voting System to All Listed Companies Within the Group

[Asia Economy Reporter Hwang Yoon-joo] POSCO Group will introduce an electronic voting system for all listed companies within the group starting from this year's regular shareholders' meeting. POSCO is actively encouraging the use of electronic voting to protect shareholders' rights, enhance participation in decision-making, and support safer and more convenient exercise of voting rights.

As part of shareholder-friendly management, POSCO, POSCO International, POSCO Chemical, POSCO ICT, and POSCO M-TEC have already implemented the electronic voting system, and this year it will be expanded to POSCO Kangpan, making it mandatory for all listed companies within the group.

The electronic voting system allows shareholders to register agenda items for the shareholders' meeting on an electronic voting platform and exercise their voting rights online without attending the meeting in person. It is a representative shareholder-friendly policy designed to facilitate shareholders' exercise of voting rights. Shareholders wishing to vote electronically can verify their identity using a digital certificate on the Korea Securities Depository website (evote.ksd.or.kr) and then exercise their voting rights.

For POSCO, the electronic voting period is from March 17 to March 26 (9:00 AM to 10:00 PM, closing at 5:00 PM on the day before the shareholders' meeting, March 26), while for the other five listed companies, it is from March 20 to March 29 (9:00 AM to 10:00 PM, closing at 5:00 PM on March 29, the day before the shareholders' meeting).

Due to the recent COVID-19 pandemic, government agencies such as the Ministry of Justice and the Financial Services Commission recommend exercising voting rights through electronic voting as part of 'social distancing' measures to ensure the safety and health of shareholders and employees of listed companies, rather than attending the shareholders' meeting in person.

Chairman Choi Jeong-woo of POSCO sent a shareholder letter containing this year's management outlook for shareholders who may find it difficult to attend due to COVID-19. Chairman Choi stated, "We will actively pioneer new markets along with market-oriented technological innovation, company-wide quality innovation, and the development of future growth new products. We will establish scenario-based emergency response systems and focus all efforts on defending profitability and securing financial soundness through high-intensity measures such as extreme reduction of indirect costs unrelated to production and adjustment of investment priorities."

He added, "If you are unable to attend this shareholders' meeting, please actively use the written voting and electronic voting systems to exercise your valuable voting rights."

Meanwhile, POSCO's shareholders' meeting will be held at 9:00 AM on March 27 at the POSCO Center. Five agenda items will be presented at this meeting, including approval of financial statements, appointment of directors, appointment of audit committee members, and approval of director remuneration limits.

This content was produced with the assistance of AI translation services.