Coway Reappoints Chairman Bang Junhyuk as Inside Director at Annual General Meeting

Board-Proposed Agenda Items Approved as Originally Proposed

At the Coway Annual General Meeting of Shareholders, Chairman Bang Junhyuk was reappointed as an inside director. The shareholder proposals by activist fund Align Partners, which called for the Audit Committee to be composed entirely of outside directors and for the appointment of an outside director as the chair of the board, were rejected.

Coway announced that it held the 37th Annual General Meeting of Shareholders at its headquarters in Yugueup, Gongju, Chungcheongnam-do on the morning of the 31st, and that all major agenda items were approved as originally proposed.

On the morning of the 31st, Suh Jangwon, CEO, gave a greeting speech at Coway's 37th Annual General Meeting of Shareholders held at Coway headquarters in Gongju, Chungcheongnam-do. Coway

At the shareholders' meeting, the following agenda items were presented and finally approved: ▲ approval of the financial statements, consolidated financial statements, and statement of appropriation of retained earnings; ▲ partial amendments to the Articles of Incorporation; ▲ appointment of directors; ▲ appointment of outside directors as members of the Audit Committee; and ▲ approval of the limit on directors' remuneration.

Coway reappointed three inside directors: Bang Junhyuk, Seo Jangwon, and Kim Soontae. As new outside directors, Jeon Simun was appointed. In addition, Sunwoo Hyejeong and Jeong Heeseon were newly appointed as outside directors to serve as members of the Audit Committee.

The agenda item regarding partial amendments to the Articles of Incorporation was also approved. Coway introduced cumulative voting and an electronic shareholders' meeting system, and amended related regulations to allow the record date for quarterly dividends to be set as a date after the dividend resolution date.

Seo Jangwon, CEO of Coway, stated, "We will continue to communicate with our shareholders and strive to enhance corporate value and achieve sustainable growth."

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