Committed to transparent, accountable management
SONGWON’s philosophy of corporate governance goes beyond just compliance or simply a matter of law. For us, ensuring the highest levels of governance supports SONGWON’s long-term value creation.
At SONGWON, we believe that exercising responsible corporate governance ensures that we remain a strong and accountable organization that is well-placed to effectively serve the needs of our stakeholders while delivering long-term value to our shareholders and meeting our targets. In other words: solid governance means solid business.
At SONGWON, we do not see governance as only a matter for our Board of Directors, the Executive Committee or something that lies solely in the hands of SONGWON’s CEO.
Corporate governance is embedded throughout SONGWON and practiced by our dedicated team of talented individuals. Our people measure their contribution to SONGWON’s overall success not just on the basis of business growth, but by how well we can meet the highest standards of accountability and create value for all of our stakeholders. Every person on the global team places the highest priority on responsible corporate governance in all of our day-to-day activities.
Having a clear framework for decision making and Accountability across our business also provides guidance on the standards of behavior we expect of ourselves, each other and of our partners.
Annual Shareholders’ Meeting, March 17, 2023
Each year, all of SONGWON’s shareholders are invited to attend the Annual Shareholders Meeting where decisions are made on matters concerning SONGWON Industrial Co., Ltd. and the Group. The meeting is traditionally centered on the annual report and financial accounts and shareholders are always given the opportunity to put forth any questions they may have relating to the agenda.
In addition to this, there are mechanisms for shareholders provided by Korean law that make it a requirement for company directors to organize a shareholders’ meeting and to propose resolutions submitted by the shareholders.
During the SONGWON’s Annual General Shareholders’ Meeting (AGM), on March 17, matters regarding financial statements, consolidated financial statements, appointment of director and limits on the remunerations for the directors and auditor were submitted and confirmed. Further, the Shareholders’ Meeting agreed on a dividend payment of 500 KRW per share (100% of nominal share value).