Webcash Restructures AI Business... Governance Reform Aligns with Commercial Act Amendment

Expansion of Business Objectives with Addition of AI, Virtual Assets, and Commerce Sectors

Approval of Financial Statements, Appointment of Directors and Auditors Among Seven Agendas Passed

Webcash, a B2B financial artificial intelligence (AI) agent company, announced on the 25th that it has finalized its business structure expansion and governance reform through the 27th regular shareholders' meeting.

On the 24th, company directors held the 27th regular shareholders' meeting at the WebCash headquarters in Yeongdeungpo-gu, Seoul. From left to right: Seo-gi Park, Outside Director; Siwan Yoo, Outside Director; Seokhwan Lee, Inside Director; Wonju Kang, CEO; Namhoon Kang, Inside Director; Sangon Park, Auditor. WebCash

On the previous day, Webcash held its 27th regular shareholders' meeting at its headquarters in Yeongdeungpo-gu, Seoul, and approved all agenda items as originally proposed, including ▲ approval of financial statements and retained earnings appropriation statement ▲ amendments to the articles of incorporation ▲ appointment of directors and auditors ▲ approval of remuneration limits for directors and auditors ▲ granting of stock options.

The company explained that the core of this shareholders' meeting was restructuring to expand its AI-centered business.

Through amendments to its articles of incorporation, the company added ▲ AI solution and service provision ▲ development and sales of virtual asset management systems ▲ telemarketing intermediary business to its business objectives. This strategy aims to combine AI technology with its existing B2B financial fintech platform to realize automation and intelligence in corporate fund management.

Currently, Webcash is operating businesses based on B2B financial solutions such as Inhousebank, Branch, and Kyungri Nara, and has recently positioned its financial AI agent business, which incorporates generative AI, as a future growth engine.

Governance reform was also carried out. The duty of loyalty for directors was expanded from applying solely to the "company" to now include both the "company and shareholders," and the title "outside director" was changed to "independent director." The proportion of independent directors was also raised from at least one quarter to at least one third.

The composition of the board of directors was also partially adjusted. Siwan Yoo was reappointed as an independent director, and Hyunju Shin, a former executive from IBK Industrial Bank of Korea, was newly appointed as auditor.

The financial results approved that day for the previous year were sales of 74.4 billion won, operating profit of 13.5 billion won, and net profit of approximately 12.5 billion won. The dividend was set at 200 won per share, excluding treasury shares, totaling about 2.5 billion won.

Wonju Kang, CEO of Webcash, stated, "As the only B2B fintech solution company in Korea, we have led the market," adding, "This year will mark the first year in which we fully scale up our AI-related business and demonstrate tangible results as a specialized financial AI agent company."

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