iM Securities Holds 37th Annual General Meeting of Shareholders

iM Securities announced that it held the 37th Annual General Meeting of Shareholders on the morning of the 25th at 9 a.m. at the Bulls Hall of the Korea Financial Investment Association in Yeouido, Seoul.

The company reported the financial statements for the 37th term approved by the board resolution and approved four agenda items as originally proposed, including the appointment of outside directors as audit committee members.

Due to the expiration of the terms of the incumbent outside directors, three outside directors were newly appointed as audit committee members with a two-year term. The newly appointed Lee Seung-cheon is a former professor of Applied Statistics at Hanshin University and served as the vice president of the Korean Statistical Society. Park Jae-man served as a branch manager at Hana Bank and was an industry-academic cooperation professor at Daegu University. Kwon Tae-woo served as an adjunct professor in the Department of Business Administration at Kyungpook National University and is currently a branch manager at Daekyung Accounting Corporation.

Director Cheon Byung-gyu was reappointed as a non-executive director. Cheon Byung-gyu’s term is one year, and he is currently serving as the Vice President of Group Management Strategy at DGB Financial Group.

iM Securities has composed four out of six board members as outside directors to enhance the transparency of the board.

To optimize the company’s financial structure and maximize shareholder value, 100 billion KRW of capital reserves were transferred to retained earnings, and the director remuneration limit was frozen at 2.5 billion KRW, the same amount as last year.

Seong Mu-yong, CEO of iM Securities, stated, "Last year, we laid the foundation for a turnaround by building an optimized business portfolio through intensive management efficiency and strengthening financial stability by setting aside large provisions. We will focus all efforts on turning deficit business sectors into profit and expanding new business initiatives to secure revenue stability and enable substantial growth."

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