Samyoung ENC Appoints Hwang Jae-woo as New CEO at Board Meeting

[Asia Economy Reporter Jang Hyowon] Samyoung ENC, a company listed on KOSDAQ, announced on the 25th that it held a board meeting and appointed Director Hwang Jae-woo as CEO.

The board meeting was held at 11 a.m. at the law firm Haewon in Yeonje-gu, Busan, with two inside directors, two outside directors, and an auditor in attendance. Inside directors Lee Seon-gi and Hwang Hye-kyung were reported to be absent.

The side of CEO Hwang Jae-woo stated, “The board meeting was convened through lawful procedures according to the Commercial Act and the Articles of Incorporation, all agenda items were presented and resolved, and after notarization, the application for the change of the corporation registration was immediately submitted to the Busan District Court registry office.”

The inside directors Lee Seon-gi and Hwang Hye-kyung, who were dismissed from their positions as co-CEOs, claimed in a press release that the proxy forms for voting rights at the extraordinary general meeting were suspected to have been illegally prepared and that they had filed a preservation of evidence request with the court regarding the proxy forms.

In response, the new board members and minority shareholders rebutted, “This extraordinary general meeting was observed by an inspector and lawyers from both sides, and the proxy forms for voting rights were thoroughly examined for over five hours, so there is no problem.”

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