'Kyochon Shareholders Meeting' Chairman So Jin-se "Will Achieve Sustainable Growth Through New Business Expansion"

[Asia Economy Reporter Lim Hye-seon] "We will continue sustainable growth through expanding new businesses."

So Jin-se, CEO and Chairman of Kyochon F&B, stated this on the 29th at the 22nd regular shareholders' meeting held at Hotel Inter-Burgo EXCO in Buk-gu, Daegu. He said, "We will repay shareholders with results as a company trusted by customers and society." So added, "We will strive for mutual growth with franchise stores through win-win management," and explained, "This year will be one of qualitative growth by expanding overseas business and new ventures."

At this shareholders' meeting, four agenda items were presented and all approved as originally proposed: approval of the 22nd financial statements, amendment of the articles of incorporation, appointment of directors, and approval of the director remuneration limit. Kyochon reported key management performance including consolidated sales of 447.6 billion KRW and operating profit of 41 billion KRW last year, and confirmed a cash dividend of 200 KRW per common share following the approval of the financial statements.

Additionally, some articles of incorporation were amended due to the introduction of the Audit Committee. Although Kyochon is not subject to the mandatory installation of an Audit Committee as a listed company with assets exceeding 2 trillion KRW, it has formed and operated the related body in advance to strengthen management transparency.

Regarding the agenda for director appointments, internal director Cho Eun-gi was newly appointed. Cho, a graduate with a bachelor's degree in International Economics from Seoul National University, previously served as Head of Management Planning Office and Head of CR Strategy at SK Energy Co., Ltd., and currently serves as President of Kyochon F&B. He was recommended as an internal director as he was judged to be the right person to enhance corporate value as a business management expert. Furthermore, through the board meeting following the shareholders' meeting, Cho was appointed as CEO (President) of Kyochon F&B, succeeding Hwang Hak-su whose term had expired.

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