Hyundai AutoEver Appoints Kim Yoon-gu, Former Group Audit Chief, as President

Hyundai AutoEver held its 24th regular general meeting of shareholders on the 26th at the Textile Center on Teheran-ro, Gangnam-gu, Seoul, and appointed Kim Yoon-gu as the new CEO.

CEO Kim is a former head of HR and audit offices at Hyundai Motor Group and is regarded as having a high level of understanding of the overall group. A company official explained, "Based on his extensive experience in improving business structure and organizational culture, he is the right person to grow Hyundai AutoEver into a world top-tier information and communication technology (ICT) and software (SW) specialized company."

At this shareholders' meeting, agenda items including approval of financial statements and consolidated financial statements, appointment of inside and outside directors, appointment of outside directors as audit committee members, approval of director remuneration limits, and approval of amendments to the articles of incorporation were passed as originally proposed.

Additionally, the business purpose in the articles of incorporation was amended to include "periodic telecommunications business." Hyundai AutoEver plans to support manufacturing innovation through a 5G specialized network. The 5G specialized service features ultra-high speed (20Gbps), ultra-low latency (1ms), and ultra-connectivity (1 million devices per square kilometer), maximizing operational efficiency across the entire production process. Hyundai AutoEver provides various intelligent services in the smart factory sector.

At the board meeting held on the same day, Hyundai AutoEver decided on a dividend of 1,430 KRW per share, totaling approximately 39.2 billion KRW. After setting a dividend of 710 KRW in 2019, the company has more than doubled the dividend over five years to 1,430 KRW this year. The dividend payout ratio also showed an upward trend from 26.7% in 2019 to 28.5% this year, demonstrating a commitment to enhancing shareholder value.

Furthermore, at this shareholders' meeting, Kim Hee-chul, former head of the Seoul National Tax Service, and Lee Sun-wook, a lawyer at Kim & Chang law firm, were appointed as new outside directors. Their professional expertise in accounting and legal fields is expected to enhance Hyundai AutoEver's management transparency and help strengthen the execution of ESG management.

Aligned with the new leadership system, Hyundai AutoEver plans to carry out organizational restructuring to achieve visible results in business structure advancement and portfolio changes, and actively pursue talent acquisition. Additionally, it is expected to tighten the reins on innovation through strategic mergers and acquisitions and open innovation by utilizing internal reserves.

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