At the recently held 58th General Shareholders Meeting, shareholders approved the appointment of internal directors, revisions to bylaws, and financial statements.
At the meeting, held on March 22 at the Best Western Harbor Park Hotel in Incheon, Kim Kyung-suk, head of the Strategy Planning Division, and Kim Weon-bae, head of the Blast Furnace Business Division, were appointed as internal directors.
In addition, shareholders approved revisions to company bylaws designed to improve the dividend process, as well as financial statements reflecting 2022 consolidated sales of USD 20.97 billion, operating profits of USD 1.24 billion, and net profits of USD 796 million.
“2023 is expected to be a year of high economic uncertainty for the steel industry, marked by a continued economic slowdown due to high prices and high interest rates, as well as the spread of protectionism led by organizations in advanced countries such as the US IRA and the European CBAM,” commented President & CEO An Tong-il. “Rather than being intimidated by the anticipated economic crisis and making drastic changes, we will maintain a consistent direction for our organization and at the same time build a solid corporate identity.”