Samsung Electronics Vice Chairman Han Jong-hee: "We Will Faithfully Implement Shareholder Returns Despite Difficulties"

Han Jong-hee, Vice Chairman and CEO of Samsung Electronics, stated on the 20th, "Samsung Electronics will continue to strengthen the competitiveness of its existing businesses while pursuing innovation in future core keywords such as artificial intelligence (AI), customer experience, and ESG (environmental, social, and governance). We will also further enhance the organization and execution system to early discover various new products, new businesses, and new business models."

At the 55th Annual General Meeting of Shareholders held at the Suwon Convention Center in Suwon, Gyeonggi Province, Vice Chairman Han said, "Although the macroeconomic environment is expected to remain uncertain this year, new opportunities are likely to increase through next-generation technological innovation," urging shareholders for their support and encouragement.

At the shareholders' meeting, Vice Chairman Han, CEO Kyung Kye-hyun, and 13 senior executives at the president level from business divisions attended to engage in dialogue with shareholders. The agenda items included ▲approval of financial statements ▲appointment of outside director Shin Je-yoon ▲appointment of outside director Cho Hye-kyung as a member of the audit committee ▲appointment of Yoo Myung-hee as a member of the audit committee ▲approval of the director remuneration limit, among others.

Han Jong-hee, Vice Chairman of Samsung Electronics, is delivering a greeting at the 55th Samsung Electronics Annual General Meeting held on the 20th at the Suwon Convention Center in Suwon, Gyeonggi Province.
[Photo by Yonhap News]

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Vice Chairman Han emphasized that Samsung Electronics maintained its status as a global top 5 company despite the challenging management environment. He explained, "Although last year's business conditions were difficult, we did not stop efforts to enhance product competitiveness and technological leadership by strengthening research and development (R&D) and proactive facility investments. Through these efforts, Samsung Electronics' brand value was evaluated at $91.4 billion by Interbrand last year, maintaining its position among the global top 5."

Vice Chairman Han stressed the continuation of efforts to enhance shareholder value. He said, "Despite the difficult management environment last year, we plan to pay dividends totaling 9.8 trillion KRW annually based on last year to faithfully implement our shareholder return policy. We will continue to do our best to strengthen shareholder-oriented management."

At this year's shareholders' meeting, after the agenda voting, Vice Chairman Han shared the management status and business strategies for this year of the DX (Device Experience) division, and CEO Kyung shared those of the DS (Device Solutions) division with the shareholders. For the first time, a separate 'Dialogue with Shareholders' session was held. Vice Chairman Han, CEO Kyung, and key executives including division heads actively responded to various questions from shareholders regarding specific business status and strategies, further enhancing communication with shareholders.

A shareholder is experiencing the 'Sangsaeng Market' set up in the lobby of the Samsung Electronics regular shareholders' meeting hall.
[Photo by Moon Chaeseok]

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Meanwhile, the shareholders' meeting venue attracted attention by preparing various exhibitions to help understand and experience Samsung Electronics' representative social contribution and win-win activities.

At the shareholders' meeting venue, a 'Win-Win Market' was set up to exhibit and sell products from 12 small and medium-sized enterprises that received manufacturing and technical know-how through Samsung Electronics' smart factory support project. In addition, booths introducing Samsung Electronics' representative social contribution programs such as the 'Samsung Youth SW Academy (SSAFY),' which supports youth software education, and 'Hope Stepping Stone,' which helps young adults preparing for independence, were also prepared.

From around 8 a.m., before the start of the shareholders' meeting, about 30 shareholders toured the third-floor central lobby, the Win-Win Market, and exhibition spaces to experience the products. One shareholder said, "I came an hour early on purpose to participate in the event," adding, "I have attended several corporate shareholders' meetings, but they were usually stiff; however, Samsung Electronics' shareholders' meeting this time was refreshing."

Samsung Electronics introduced an electronic voting system in 2020. Electronic voting was conducted over ten days from the 10th to the 19th. This allowed shareholders to exercise their voting rights even if they did not attend the meeting in person. For shareholders who could not attend on-site but had applied in advance, the shareholders' meeting was broadcast online.

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