NewG Lab Pharma Announces Management Plan at General Meeting of Shareholders: "Visible Results Expected This Year"

Approval of Board Members' Reappointment Proposal "Establishing a Stable Management Foundation"

[Asia Economy Reporter Hyungsoo Park] Newgelab Pharma held its "18th Annual General Meeting of Shareholders" on the 25th and announced the reappointment of directors whose terms had expired.

Through the reappointment of inside and outside directors, the company strengthened responsible management and established a stable management system. Continuous growth was anticipated. CEO Daewoo Park set plans to generate tangible business results this year, including new drug development and external growth, based on a business foundation prepared over a long period.

All reports and agenda items at the shareholders' meeting were approved as originally proposed. Daewoo Park, Young Hee Ko Roberts, Jaeseok Lim, and Daehye Kim were reappointed as inside directors. Jung Hwan Yoo was reappointed as an outside director.

CEO Daewoo Park said, "I am grateful to the shareholders who trusted the current management and allowed the renewal of terms," adding, "We will pursue continuous growth strategies to meet expectations."

He continued, "We have worked to establish a solid business foundation until last year," and said, "Starting this year, we plan to achieve tangible business results such as new drug development and sales growth."

The shareholders' meeting held at the headquarters in Bucheon, Gyeonggi-do, proceeded in order with reports on last year's performance and audits, followed by resolutions on the reappointment of inside and outside directors, and approval of the remuneration limits for directors and auditors. To prevent the spread of COVID-19 and provide convenience to shareholders who had difficulty visiting in person, an electronic voting system was also implemented to allow online voting rights exercise.

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