SKC

● The meeting was held on March at the company’s headquarters in Jongno-gu, Seoul, with enhanced accessibility via online live streaming and an IR briefing session

● Continued efforts to secure financial soundness; glass substrate business on track for timely mass production after obtaining certification from multiple customers

● New appointments include Kim Ki-dong as a non-executive director and Jeong Hyun-wook as an independent director. Chae Eun-mi appointed as SKC’s first female chairperson

SKC (CEO Woncheol Park) held its 52nd Annual General Meeting of Shareholders on March 26 at the company's headquarters in Jongno-gu, Seoul.

SKC once again enhanced accessibility by live streaming its Annual General Meeting of Shareholders. Notably, this year’s meeting was followed by a shareholder briefing session that provided updates on key business initiatives.

Park Won-cheol, CEO of SKC and chair of the meeting, stated, "We have completed the first phase of our portfolio rebalancing, centered on our three core businesses: EV batteries, semiconductors, and eco-friendly solutions." He also mentioned, "In line with this, we launched our new glass substrate business and acquired ISC, a global leader in semiconductor test solutions, to further strengthen our semiconductor portfolio."

He continued, "To ensure financial soundness, we worked to bolster our fundamentals by divesting low-growth, non-core businesses, including the film and polyurethane sectors." He emphasized, "Going forward, we will focus on enhancing our business competitiveness to meet shareholder expectations."

SKC also announced plans to generate tangible results in its highly anticipated glass substrate business by obtaining certifications from multiple customers within the year.

CEO Park stated, "Georgia Plant 1, the world’s first mass production line for glass substrates, is currently in the commissioning phase with the goal of commencing mass production on schedule." He added, "We have secured multiple top-tier global customers in the field of high-performance computing, AI servers, and high-frequency wireless communications, and are also engaged in discussions with various partners across the value chain." Regarding the copper foil business, he projected, "Based on the mid- to long-term sales contracts signed with multiple customers last year, we expect a stable recovery in sales volume this year."

At the board meeting held immediately after the Annual General Meeting of Shareholders, the motion to appoint Chae Eun-mi, an independent director, as SKC's first female chair of the board was approved. Appointed as an independent director in 2023, Chair Chae previously served as the first Korean Manager of FedEx Korea, a global express delivery company. Leveraging her expertise in labor relations and global management, she has contributed to strengthening the board's effectiveness by providing strategic guidance and oversight on major decisions at SKC.

Additionally, Woncheol Park, CEO of SKC, was reappointed as an executive director, while Kim Ki-dong, CFO of SK Inc., was newly appointed as a non-executive director. Furthermore, Jeong Hyun-wook, a certified public accountant at Kim & Chang Law Firm, was appointed as an independent director. Other agenda items, including the approval of financial statements and the limit of directors’ remuneration, were also approved as originally proposed. [End]

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