KT&G Selected as an Excellent Corporation for Corporate Governance Report Disclosure
Achieving 100% Compliance Rate for Key Indicators
KT&G announced on the 16th that it has been selected as an 'Outstanding Corporate Governance Report Disclosure Company' by the Korea Exchange.
Since 2019, the Korea Exchange has established guidelines to ensure comparable and thorough information is provided during the corporate governance report disclosure process and has been awarding outstanding disclosure companies. This year, KT&G was recognized for transparently disclosing the overall status of its corporate governance in accordance with the corporate governance report guidelines, contributing to investor protection and fostering a sound disclosure culture in the capital market.
In particular, KT&G fully complied with 15 key indicators of the corporate governance report, including whether the chairman of the board is an outside director, providing predictability regarding cash dividends, and adopting a cumulative voting system. The compliance rate for these key indicators was significantly higher than the average of 63% for companies with assets exceeding 2 trillion KRW. As an outstanding disclosure company, KT&G will receive benefits for the next three years, including a one-time exemption from being designated as a non-compliant disclosure company, exemption from fees for change listings and annual charges, and exemption from annual disclosure training.
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Previously, KT&G was selected as an 'Outstanding XBRL Financial Disclosure Company' by the Financial Supervisory Service in May for faithfully conducting financial disclosures based on XBRL (eXtensible Business Reporting Language), an international standard computer language for corporate financial reporting. A KT&G official stated, "The company is strengthening communication with the capital market through disclosure practices that meet global standards," adding, "We will continue to enhance information accessibility and transparency to protect the rights and interests of domestic and international investors and shareholders."
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