Pulmuone to Live Stream Annual General Meeting Online... "Achieving Profitability-Based Growth"

Bill Review 'Online Live Broadcast'
Partial Amendment of Articles of Incorporation, Emphasis on Sustainable Management

In March last year, at the 2020 Open Shareholders' Meeting held at 'Munhak-ui Jip' in Yejang-dong, Seoul, Hyoyul Lee, CEO of Pulmuone, is conducting the agenda submission and approval process.

[Asia Economy Reporter Lim Hye-sun] Pulmuone will hold the 2021 Open General Meeting of Shareholders concurrently on-site and online at its headquarters in Suseo-dong, Gangnam-gu, Seoul on the 25th.

Since 2008, Pulmuone has held an 'Open General Meeting of Shareholders' in the form of an on-site talk show based on shareholder participation and communication. However, this year, to prevent the spread of COVID-19, shareholders were guided to use a prior electronic voting system, and in keeping with the spirit of the 'Open General Meeting of Shareholders,' an online live streaming method enabling two-way communication with shareholders was introduced for the first time.

This general meeting of shareholders will live stream the agenda review process conducted on-site in real time. The 'Open Discussion,' which was held in a talk show format at the meeting venue, will be replaced by an online broadcast of a pre-recorded 'Open Interview' video after the agenda review is completed.

At this general meeting, five agenda items will be reviewed, including approval of financial statements, partial amendments to the Articles of Incorporation, and the appointment of directors. In particular, to strengthen ESG (Environmental, Social, and Governance) management, partial amendments to the Articles of Incorporation will be made to specify sustainable management.

Pulmuone will add 'the sustainable value of the global environment' to its corporate Articles of Incorporation. Specifically, the existing clause stating 'to generate economic profits through innovative products and services embodying the values of safety, security, and health' will be changed to 'to generate economic profits through innovative products and services embodying the values of safety, security, health, and the sustainable value of the global environment.'

The phrase explaining the company's vision will also be changed from 'achieving the highest domestic and global corporate performance in all aspects of sales and profits' to 'becoming a global-level company in terms of sales, profits, as well as social and environmental sustainability.' The Articles of Incorporation explaining core values will also add the phrase 'creating shared value.'

Earlier, Pulmuone announced the exercise of voting rights through electronic voting on the 10th and conducted prior agenda reviews via electronic voting from the 15th to the 24th of this month. Since exercising voting rights is not allowed under current law during the online general meeting, shareholders who applied to watch the online meeting by the 23rd after prior electronic voting were sent access codes to attend the online meeting.

Additionally, prior questions were accepted when applying for the online meeting, and shareholder questions regarding management status were received via real-time comments during the online meeting. The pre-recorded 'Open Interview' was organized in an interview format where a total of eight executives, including CEO Lee Hyo-yul and Chief Strategy Officer Lee Sang-bu, explained business performance and plans in detail.

In his greeting, CEO Lee Hyo-yul stated, "We are proactively responding to the paradigm shift by declaring ourselves a 'plant-based oriented business leader' based on the best research and development capabilities, establishing a mid-to-long-term roadmap, and fully launching innovative plant-based protein and plant-based meat businesses." He added, "This year, along with the plant-based oriented business, we will achieve profitability-based growth by making our core business, the convenience food business, one of the two pillars of future growth."

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