38th KT&G AGM Approves All Agenda Items

• Agendas including year-end dividend, partial AoI amendments, director appointments approved

SEOUL, South Korea,March 26, 2025/PRNewswire/ -- KT&G (KRX: 033780) concluded the 38^thannual general meeting of shareholders (AGM) onMarch 26, at the KT&G Human Development Center, during which all agenda items tabled by the board of directors were approved. 

Agenda items of this AGM included approval of: financial statements and statement of appropriation of retained earnings; partial amendments to the articles of incorporation (AoI); appointment of one inside and two outside directors; appointment of one audit committee member; and remuneration cap for directors. All agendas were ratified by shareholders.

KT&G proposal for 2024 year-end dividend atKRW 4,200per share was accepted by the shareholders. The annual dividend, including the interim dividend ofKRW 1,200paid last year, isKRW 5,400, upKRW 200from the previous year.

The meeting also approved AoI amendments clarifying the number of directors; aligning provisions regarding the appointment of audit committee members; clarifying the method for the appointment of the president; and changing the quarterly dividend record dates. Accordingly, the appointment of the president through the AGM will accurately reflect opinions of all shareholders and investors will be able to confirm the dividend set by the board before deciding to hold shares.

KT&G Chief Operating Officer (COO) and Senior Executive Vice PresidentSang-Hak Leewas appointed as an inside director. Mr. Lee was recognized for his contributions as COO in achieving parallel growth of corporate and shareholder value, increasing profitability based on strong main business competitiveness and preemptively establishing mid to long-term shareholder policies.

The assembly also approved outside directors, re-appointingKwan-Soo Shon, former CJ Logistics CEO, and Jee-Hee Lee, the incumbent CEO of W-WORKS, who have been acting as outside directors for the past three years. Mr. Shon was also appointed as an audit committee member.

A KT&G spokesperson stated that"the 38^th AGM laid the foundation for sophistication of the governance structure and shareholder value improvement as shareholders supported AoI amendments and director appointment-related AGM agenda items"and that"KT&G will continue its performance centered around its main business competitiveness stemming from board independence and expertise, improving shareholder value through top-level shareholder return plans."

After the conclusion of the AGM, KT&G celebrated its 38^thanniversary with 270 participants including KT&G management and employees.

During the ceremony, KT&G CEOKyung-Man Bangemphasized that"improving profitability and accelerating growth are top priorities for heightening corporate value,"further emphasizing that"thanks to KT&G's efforts last year in increasing direct overseas business for market expansion, the global cigarette business successfully towed profitability growth."

Mr. Bang also asserted that"KT&G will quickly respond to market changes, reorienting and expanding our business focus from cigarettes to'Modern Products,'a new concept of product lineup, reinforcing our market leader position."

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SOURCE KT&G Corporation