"YouTube General Meeting" Lee Hyoyul, CEO of Pulmuone, Challenges 3-Year Annual Sales Goal of 3 Trillion Won

Adoption of YouTube Streaming for General Meeting to Prevent COVID-19
Last Year's Sales Reached 2.3815 Trillion Won, Up 5%...This Year's Profit Growth Target

Pulmuone held the '2020 Open Shareholders' Meeting' on the 27th at 'House of Literature Seoul' in Yejang-dong, Jung-gu, Seoul. The first part, the agenda review, was conducted on-site as usual, while the second part, the open discussion, was replaced by streaming a pre-recorded video via YouTube at the meeting venue.

[Asia Economy Reporter Lee Seon-ae] Pulmuone held the ‘2020 Open General Meeting of Shareholders’ on the 27th at ‘House of Literature Seoul’ in Yejang-dong, Seoul.

For the past 12 years, Pulmuone has held an ‘Open General Meeting of Shareholders’ in the form of a talk show to encourage shareholder participation and communication. However, this year, to prevent the spread of COVID-19, the company guided shareholders to use electronic voting and changed the event format by adopting YouTube streaming, conducting the general meeting within the minimum scope stipulated by the Commercial Act.

The meeting was divided into two parts. The first part, the agenda review, was conducted on-site as usual. In contrast, the second part, the ‘Open Discussion’ which was previously held as a talk show at the meeting venue, was replaced by broadcasting a pre-recorded video from Pulmuone’s headquarters studio via YouTube streaming at the meeting site.

Shareholders who could not attend the meeting in person were provided with the video URL to watch the Open Discussion video simultaneously with the meeting.

In the first part of the meeting, agenda items such as business reports, audit reports, and the appointment of inside and outside directors and audit committee members were reviewed. Prior to the agenda review, Pulmuone sent the ‘Notice of General Meeting of Shareholders’ to shareholders on the 12th and conducted a preliminary agenda review through electronic voting from the 17th to the 26th of this month.

The second part, the ‘Open Discussion,’ utilized YouTube streaming to broadcast the pre-recorded Open Discussion video from Pulmuone’s headquarters studio through Pulmuone’s YouTube channel at the meeting venue.

The Open Discussion was hosted by broadcaster Lee Ik-seon and featured Pulmuone CEO Lee Hyo-yul and Chief Strategy Officer Lee Sang-bu explaining last year’s business performance and this year’s business plans in a talk show format. After discussing business performance, there was a Q&A session where management answered shareholders’ questions on topics of interest.

In his opening remarks, CEO Lee Hyo-yul said, “Last year, despite unprecedented low growth, wage increases, and rising raw material costs, Pulmuone achieved significant results with total sales of 2.3815 trillion KRW, a 4.8% increase compared to the previous year. This year, we are committed to generating profits through continuous sales growth in the domestic market and realizing ‘profitability-based growth’ in overseas markets.”

He continued, “Domestically, we strengthened market dominance in key products such as tofu, fresh noodles, and eggs, and successfully entered the frozen HMR market by consecutively launching strategic products like thin-skinned dumplings, frozen rice, and innovative pizzas, securing a foothold for sustainable growth. Overseas, with plant-based protein emerging as a new trend, we ranked first in market share in the U.S. tofu and kimchi markets, enhancing the achievements of K-food. In Japan, we have achieved remarkable results by marketing Korean and global products, and in China, we realized profitability for the first time in overseas business through rapid growth in pasta and bean products,” he explained.

Finally, CEO Lee stated, “As we begin the 2020s, Pulmuone has declared a new vision, ‘Global New DP5,’ to leap forward as a global LOHAS company. The new vision sets concrete goals for Pulmuone to achieve total sales of 3 trillion KRW within three years and to fulfill corporate social responsibility by creating not only economic value but also various social and environmental values.”

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