Kim Taek-jung, OCI Vice Chairman, "Efforts to Expand Semiconductor and Secondary Battery Materials Business"

OCI Headquarters located in Jung-gu, Seoul

Kim Taek-jung, Vice Chairman of OCI, stated on the 26th, "Since the spin-off and establishment, we have been making every effort to expand our new growth engines in semiconductor and secondary battery materials businesses."

In his greeting at the regular shareholders' meeting held at the headquarters in Jung-gu, Seoul, Kim said, "2023 was a meaningful year as OCI took its first step as an independent corporation."

At the shareholders' meeting, OCI approved the agenda to reduce capital for the cancellation of treasury shares. Previously, OCI decided to reduce capital by canceling all 38,040 treasury shares acquired during last year's spin-off process to enhance shareholder value. In addition, all other agenda items, including approval of financial statements, partial amendments to the articles of incorporation, partial amendments to the executive retirement pay regulations, and approval of the director remuneration limit, were passed as originally proposed.

The existing OCI was divided into the holding company OCI Holdings as the surviving corporation and the newly established business company OCI through a spin-off decision in May last year.

Regarding this year's business strategy, he said, "We will do our best to minimize risks and secure profitability in response to the deteriorating market conditions," adding, "We will focus all efforts on improving profitability through increased production efficiency and cost reduction, and strengthen financial soundness by securing stable cash flow."

He also added, "We will not neglect efforts for mid- to long-term growth," and said, "We will successfully execute ongoing projects, internalize core technologies for semiconductor and secondary battery materials, and lay the foundation for future growth through the development of related new business models."

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