Korea Technology Concludes Regular General Meeting “Resolving Delisting Causes Within Half-Year, Merger Procedures Progressing Smoothly”

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company, announced on the morning of the 31st that the 25th regular general meeting of shareholders held at the Korea Technology headquarters in Jung-gu, Seoul, was successfully concluded.

At the 25th general meeting of shareholders, the agenda items included ▲approval of financial statements ▲appointment of inside directors ▲appointment of auditors ▲approval of director remuneration limits ▲approval of auditor remuneration limits, all of which were passed unanimously by the shareholders.

Attending shareholders expressed the opinion that escaping from the management item status and merging with subsidiaries are essential for the company's long-term development, urging the company to accept shareholders' demands.

In response, CEO Shin Yonggu stated, “All procedures are progressing smoothly according to the shareholders' wishes to escape from the management item status and merge with Daewoo Shipbuilding & Marine Engineering Construction,” adding, “We will promptly resolve the capital erosion, the sole reason for the management item status, by selling non-essential assets and conduct voluntary accounting audits to escape from the management item status.”

Regarding the merger demand, he also said, “We have established the basis and foundation for the merger through the absorption merger of Korea Investment Bank, which was acting as an intermediary,” and added, “We plan to proceed swiftly with the remaining final merger procedures.”

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