Ssangyong C&E Appoints First Female Outside Director in Cement Industry

At the General Meeting, Song Hyun-joo Appointed as Environmental Expert... Enhancing Corporate Value through Eco-friendly Management

[Asia Economy Reporter Kim Jong-hwa] Comprehensive environmental company Ssangyong C&E held its 60th regular general meeting of shareholders on the 29th at its headquarters in Jung-gu, Seoul, and approved the agenda items including ▲appointment of outside directors and audit committee members ▲confirmation of the 2021 financial statements ▲partial amendment of the articles of incorporation as originally proposed.

At the shareholders' meeting, Ssangyong C&E appointed Song Hyun-joo (photo), an environmental expert, as the first female outside director in the cement industry to strengthen ESG management, and reappointed the existing outside directors Jo Seong-wook and Ahn Dong-beom.

Outside director Song currently serves as a non-standing member of the Anti-Corruption and Civil Rights Commission and is an environmental expert who has played a significant role in environmental and ecological conservation. Ssangyong C&E plans to further strengthen ESG management and eco-friendly management with the appointment of outside director Song as a turning point.

Ssangyong C&E also appointed financial expert Yoon Seok-gu as an audit committee member (outside director). Outside director Yoon is a financial expert with long experience in the financial industry and is expected to contribute to improving the company's financial soundness and competitiveness through professional advice on fund management and investment.

Last year, Ssangyong C&E recorded consolidated sales of 1.6614 trillion KRW and operating profit of 248.7 billion KRW. Sales grew 12.9% year-on-year due to factors such as price increases, but operating profit decreased by 0.6% due to rising prices of raw materials such as thermal coal.

At the general meeting, Ssangyong C&E confirmed a cash dividend of 110 KRW per share. Including quarterly dividends, the dividend yield reaches 5.5%, the highest level among domestic listed companies.

Lee Hyun-jun, CEO of Ssangyong C&E, said, "Last year, we changed our company name and achieved meaningful results in the environmental business, laying the foundation for advancing as a comprehensive environmental company," adding, "We will continue to promote ESG management activities linked to the environmental business to gain trust from various stakeholders and strive to become a top-tier sustainable development company with the best competitiveness in the industry."

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