Park Cheolwan, Former Kumho Petrochemical Executive Director, "I Will Return as a Manager to Enhance Shareholder Value"

"Considering Measures to Secure Voting Rights by Obtaining Shareholder Register"

[Asia Economy Reporter Hwang Yoon-joo] Park Cheol-wan, the largest individual shareholder of Kumho Petrochemical, expressed his intention to return to management.

On the 21st, former Executive Director Park stated that he has the ambition to grow Kumho Petrochemical into a company that incorporates the global management mindset of his father, the late Park Jeong-gu.

Former Executive Director Park is the eldest son of the late Park Jeong-gu, former chairman of Kumho Group and the second older brother of Park Chan-gu, chairman of Kumho Petrochemical. Park Jeong-gu, who passed away in 2002, was appointed chairman in 1996 during Kumho Group's 50th anniversary and led the group by designating information and communications, bio, aerospace, marine, and tires as core future businesses, a legacy still remembered today.

Former Executive Director Park said, "As the largest individual shareholder, I am deeply considering ways to create future growth engines for Kumho Petrochemical and am exchanging opinions with experts from various fields. This year marks the 20th anniversary of my late father, and I feel I must work hard on the management front of Kumho Petrochemical, which my grandfather and father founded together in 1970, but I have not yet been able to return to the company, so I feel no face to meet my late father."

He emphasized, "I have the ambition to return as a manager with the insight to create future growth engines that propose 'vision management' and to contribute to enhancing shareholder value."

He added, "Ahead of the March shareholders' meeting, I have sent shareholder proposals aimed at management transparency and enhancing shareholder value, and I am currently considering ways to secure voting rights by obtaining the shareholder registry."

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