Nexen Tire Decides on Cash Dividends for 27th Consecutive Year at Annual General Meeting: "Will Enhance Shareholder Rights"

27 Consecutive Years of Cash Dividends and Increased Per-Share Payouts

"Management Strategy Expert" Jae-Hong Kim Appointed as Outside Director

Articles of Incorporation Amended to Reflect Revised Commercial Act

Nexen Tire announced on March 26 that it held its 68th Annual General Meeting of Shareholders at its headquarters in Yangsan, Gyeongnam.

Nexen Tire Magok Central Research Center THE NEXEN univerCITY. Nexen Tire

Nexen Tire achieved consolidated sales of 3.1896 trillion won last year, surpassing the 3 trillion won mark for the first time since its founding and recording its highest-ever annual sales. Building on this achievement, the company continued its cash dividends for the 27th consecutive year.

The dividend confirmed at this shareholders' meeting is 200 won per common share and 205 won per preferred share, continuing its expansion of cash dividends for the third consecutive year and further returning value to shareholders. The record date for this year’s dividend is April 1.

Jae-Hong Kim, an expert in management strategy, was newly appointed as an outside director. Kim is a specialist in management strategy who previously served as Chief Financial Officer of the Strategy Promotion Office at CJ CheilJedang. Nexen Tire plans to further strengthen the transparency and expertise of its board of directors by operating audit and ESG management committees centered around its four outside directors.

At this shareholders' meeting, certain articles of incorporation were also amended to reflect recent changes to the Commercial Act. The company revised clauses related to the introduction of an independent director system and amended the articles to allow cumulative voting if shareholders with at least a 1% stake request it, in order to strengthen minority shareholders’ rights to appoint directors. The company also revised provisions related to the “3% Rule,” which limits the voting rights of the largest shareholder and related parties to 3% when appointing audit committee members, and increased the number of separately elected audit committee members from one to two. Additionally, to enhance minority shareholders’ participation rights, the articles were amended to introduce electronic shareholder meetings.

CEO Hyunseok Kim attended the meeting and presented the company’s key management strategies for 2026, which include establishing a market- and customer-oriented global operating system and enhancing research and development (R&D) capabilities based on artificial intelligence (AI) and virtual technologies. Through these efforts, the company aims to build a foundation for sustainable growth and solidify its competitiveness in the global market.

CEO Hyunseok Kim stated, "We will establish a stable performance structure by balancing top-line growth and profitability through the advancement of our global operating system and enhanced management efficiency. We will also continue to strengthen transparent and sound governance, and enhance long-term corporate value and shareholder rights through responsible decision-making and thorough information disclosure."

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