On March 29, 2019, Dong-A Socio Holdings held the 71st annual general shareholders’ meeting at 8:30 AM on the 7F auditorium of Yongshin-dong headquarters in Dongdaemun-gu, Seoul under the presence of shareholders and company executives.
At the annual general shareholders’ meeting held on March 19, a report on the establishment of the corporate governance charter was presented, and a total of 5 items of 71 financial statements (January 1, 2018 ~ December 31, 2018) on the agenda were submitted and passed. Those items consisted of approval of the 71st financial statement (including the surplus appropriation statement (draft)) and the consolidated financial statement, partial changes to the articles of incorporation, appointment of the directors, appointment of members of the audit committee, and approval of the remuneration for directors.
Introduced with the aim of establishing a sound and transparent governance structure, the corporate governance charter of Dong-A Socio Holdings emphasizes the roles and responsibilities of outside directors independent of the controlling shareholders and management so that the board of directors and the audit committees can perform the actual supervisory functions of the management. It is composed of five different parts for shareholders, the board of directors, the auditing body, stakeholders, and the management monitoring by the market, which will be posted on the website immediately after the general shareholders’ meeting.
Dong-A Socio Holdings’ 71st Annual Sales Report reported consolidated sales of 707.5 billion KRW and consolidated operation profits of 50.5 billion KRW in 2018, with a cash dividend of 1,000 won per share was also decided.
Professor Cho Bong-sun of Sogang University was re-appointed as an outside director and audit committee member, while Professor Cho Bong-sun was recommended as an outside director at the outside director candidate recommendation committee meeting held in February.
In his greetings message, President Han Jong-hyun of Dong-A Socio Holdings, acting as chairman of the General Shareholders’ Meeting, said, “Dong-A Socio Holdings strived to enhance corporate value and achieve sustainable growth in the long run in 2018. We first acquired Gayasan Spring Water to expand our promising business portfolio and to strengthen our competitiveness in the bottled water market.”
He went on to say, “Dong-A ST strengthened its global R&S capability, and Dong-A Pharm entered the Vietnamese market with Bacchus, while major subsidiaries such as Yongma Logis and Sooseok Cultural Foundation also achieved their goal of increasing sales while strengthening their business competitiveness and core competencies.”
He added, “Dong-A Socio Holdings will continue the race to become a global company amid an uncertain market environment in 2019 based on last year’s achievements and the trust of our shareholders. We will lay the foundations for long-term growth by strengthening our partnerships with global pharmaceutical companies, promoting open R&D innovation, and expanding our global production facilities.”