Samsung Electronics to Reduce 30 Million Shareholder Meeting Mailings... Strengthening ESG Management

Substitute Summons and Shareholder Notices with Electronic Public Announcements... Effect of Protecting 3,000 Trees

Samsung Electronics achieved a record high performance with annual sales exceeding 279 trillion won. On the 7th, Samsung Electronics announced that its preliminary consolidated results for last year showed sales of 279.04 trillion won and an operating profit of 51.57 trillion won. The Samsung flag is fluttering in the wind in front of Samsung Electronics' Seocho building on this day. Photo by Moon Honam munonam@

[Asia Economy Reporter Lee Hye-young] Samsung Electronics announced on the 16th that it will significantly reduce the mailings sent to shareholders ahead of this year's first regular general meeting of shareholders, further strengthening its ESG (Environmental, Social, and Governance) management.

Before the general meeting, Samsung Electronics plans to replace the delivery of notices of convocation and shareholder newsletters to shareholders by mail with electronic announcements through the electronic disclosure system (DART) this year. Considering shareholders who may have difficulty accessing electronic announcements, attendance cards and brief guides related to the general meeting will be sent by mail.

Under the Commercial Act, notices of convocation to shareholders holding less than 1% can be replaced by electronic announcements, but Samsung Electronics had been sending both mail and electronic announcements until last year. Even before the last regular general meeting, attendance cards, notices of convocation, and shareholder newsletters were all sent to shareholders by mail.

However, as environmental issues caused by the large-scale annual mailings have come to the forefront, Samsung Electronics has been internally reviewing ways to reduce them.

Samsung Electronics explained, "Due to concerns about excessive paper use related to general meeting mailings and the shift toward online-centered information delivery, we decided to reduce mailings as part of our ESG management."

Through this reduction in mailings, Samsung Electronics expects to save about 30 million sheets of paper, which is equivalent to protecting approximately 3,000 trees of 30-year-old timber.

Meanwhile, Samsung Electronics will hold its regular general meeting of shareholders on the 16th of next month at the Suwon Convention Center in Gyeonggi-do, where it will address agenda items including ▲approval of financial statements ▲appointment of outside and inside directors ▲appointment of audit committee members ▲approval of director remuneration limits.

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