Ottogi Chairman Ham Youngjoon Reappointed as Inside Director: "Strengthening Product Competitiveness Despite Uncertainty"

55th Ordinary General Meeting of Shareholders Held on March 26

On March 26, Ottogi announced that it would continue to pursue growth by strengthening product competitiveness and expanding into global markets, despite ongoing geopolitical risks and uncertainties.

Ottogi held the 55th regular general meeting of shareholders on the 26th at the auditorium of Ottogi Central Research Institute in Anyang, Gyeonggi Province, and resolved key agenda items. (Photo by Ottogi)

That morning at 9 a.m., Ottogi held the 55th Ordinary General Meeting of Shareholders at the Ottogi Central Research Institute Auditorium in Anyang, Gyeonggi-do, and resolved key agenda items.

At the meeting, all agenda items were approved as originally proposed, including the approval of financial statements, amendments to the articles of incorporation, the appointment of directors and audit committee members, and the approval of director remuneration limits. As a result, Chairman Ham Youngjoon was reappointed as an inside director.

Presiding over the meeting, Ottogi CEO Hwang Seongman stated in his opening remarks that uncertainties such as geopolitical risks and cost pressures are expected to persist. Nonetheless, he said, "We plan to achieve continuous growth by strengthening product competitiveness with a focus on quality and safety, expanding into global markets, and responding to domestic market trends." He also emphasized, "We will strive for a balanced approach to enhancing shareholder value and ensuring the company’s mid- to long-term growth."

CEO Hwang evaluated last year as a challenging environment due to ongoing uncertainties, including the global economic slowdown, high interest rates and inflation, and rising exchange rates. Nevertheless, he noted that Ottogi maintained its growth trajectory through the expansion of new products, strengthened domestic and overseas sales, and cost reduction efforts. He added, "We have expanded our global presence with the Jin Ramen global campaign, participation in major international food exhibitions, and entry into new markets based on halal certification. We are also continuing to invest in production and logistics infrastructure, and to enhance brand competitiveness."

Last year, Ottogi recorded consolidated sales of 3.6745 trillion won, a 3.8% increase from the previous year, while operating profit decreased by 20.2% year-on-year to 177.3 billion won.

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