LS Securities Appoints Won Sik Hong as CEO... "Will Lead Continued Growth"

27th Regular General Shareholders’ Meeting Held
All Agenda Items, Including Cash Dividends, Approved as Proposed

On March 24, LS Securities announced that it held its regular general shareholders’ meeting and board of directors meeting, at which Won Sik Hong was newly appointed as Chief Executive Officer.

Wonshik Hong, CEO of LS Securities

Born in 1964, CEO Hong has previously served at the International Affairs Department of the Securities Supervisory Board, the International Finance Team of LG Securities, as Deputy Branch Manager of BankBoston’s Seoul Branch, as an internal director at Global & Associates, as Head of Business Infrastructure at Ebest Investment & Securities, as President and CEO of Ebest Investment & Securities, and as President and CEO of Hi Investment & Securities.

LS Securities explained that the newly appointed CEO Hong is expected to lead the company’s continued growth, based on his outstanding leadership, strategic planning capabilities, and stable risk management skills.

CEO Hong stated, “I will focus on restoring the essential competencies of the securities firm and establishing a sustainable profit structure so that the company’s value can be properly recognized in the market.”

Meanwhile, at this shareholders’ meeting, the agenda item regarding cash dividends was also approved. As a year-end dividend, a cash dividend of 500 won per common share will be paid, with the total dividend amount, including preferred shares, amounting to 34.1 billion won.

Other agenda items, including the approval of the 27th financial statements, approval of partial amendments to the articles of incorporation, appointment of an outside director to serve as an audit committee member, and approval of the limit on directors’ remuneration, were all passed as originally proposed.

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