Dong-A Socio Holdings Appoints Jeong Jae-hoon as New CEO

On the morning of the 29th, the regular shareholders' meeting is being held at the Dong-A Socio Holdings headquarters in Yongdu-dong, Dongdaemun-gu, Seoul. (Provided by Dong-A Socio Holdings)

[Asia Economy Reporter Chunhee Lee] Dong-A Socio Holdings has appointed Vice President Jaehoon Jeong as the new CEO.

On the morning of the 29th, Dong-A Socio Holdings held its regular shareholders' meeting at its headquarters in Yongdu-dong, Dongdaemun-gu, Seoul, and approved the proposal to appoint Vice President Jeong as an inside director. Subsequently, the board of directors appointed him as CEO.

At the shareholders' meeting, in addition to Vice President Jeong, Sanghwan Baek, Head of Management Planning, and Seunghyun Go, Head of Management Support, were newly appointed as inside directors.

As outside directors, Professor Changjin Moon, former professor at CHA University of Science and Technology, was reappointed, and as outside directors and audit committee members, Dongcheol Kim, representative of the law firm Hyun, was reappointed, and Kyungbae Kwon, managing director of the accounting firm Sejin, was newly appointed. In accordance with the amendment to the Commercial Act requiring one audit committee member to be elected separately, outside director Kyungbae Kwon was elected separately.

Additionally, the shareholders' meeting approved a total of seven agenda items, including the approval of last year's financial statements, partial amendments to the articles of incorporation, approval of the director remuneration limit, and partial amendments to the executive retirement benefit regulations, all of which passed as originally proposed.

In the business report, the company announced consolidated sales of 783.3 billion KRW for last year (a 1.8% increase compared to the previous year) and an operating profit of 50.6 billion KRW (a 4.2% decrease compared to the previous year). A cash dividend of 1,000 KRW per common share was also confirmed.

Han Jonghyun, chairman of the shareholders' meeting, stated, "To enhance shareholder value, starting this year and for the next three years, we plan to strengthen shareholder-friendly management by allocating more than 30% of consolidated net income as resources," promising an active shareholder return policy. He also said, "We will actively conduct year-end and interim dividends, expanding dividends to a total of over 30 billion KRW over three years" and "The remaining resources after dividends will be used for share repurchases and cancellations."

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