Corporate Governance
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.
2024 Annual Shareholders’ Meeting, March 15, 2024
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. Traditionally, the meeting centers around the annual report and financial accounts and shareholders are always given the opportunity to ask any questions they may have related 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 SONGWON’s Annual General Shareholders’ Meeting (AGM), held on March 15, 2024, matters regarding financial statements, consolidated financial statements, partial change of articles of incorporation, appointment of a director, appointment of an auditor and limits on the remunerations for the directors and auditor were submitted and confirmed. Furthermore, the shareholders agreed a dividend payment of 250 KRW per share (50% of nominal share value).