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Resolution of the Annual General Meeting of

2004.03.12 No. 220
1. Approval of the financial statements of the 36th business year :

(unit: million KRW)
Total assets 24,250,145 Sales 24,967,265
Total liabilities 11,752,220 Ordinary income 2,347,379
Capital stock 1,478,603 Net income 1,749,371
Total shareholders` Equity 12,497,925 *Earnings per share KRW 7,725

* Opinion of outside auditor : appropriate
Total assets 24,250,145 Sales 24,967,265
Total liabilities 11,752,220 Ordinary income 2,347,379
Capital stock 1,478,603 Net income 1,749,371
Total shareholders` Equity 12,497,925 *Earnings per share KRW 7,725
2. Details of dividends:
     1) Dividends per share :
        Common shares KRW 1000
        Series 1 preferred shares KRW 1050
        Series 2 preferred shares KRW 1100
        Series 3 preferred shares KRW 1050
     2) Total cash dividends : KRW 285,647,000,000
     3) Dividend ratio to market value :
        Common Shares 2.08%
        Series 1 preferred Shares 4.63%
        Series 2 preferred shares 4.87%
        Series 3 preferred shares 5.54%
     4) Dividend payout ratio : 16.33%
3. Current status of directors and audit committee :
     1) Appointees :
        - Internal Directors : Dong Jin Kim, Ruediger Grube, Cheon Soo Jeon (total 3 persons)
        - External Directors : Dong Gee Kim (total 1 person)
        - Audit Committee Member : Dong Gee Kim (total 1 person)
     2) Total number of registered directors : 8
     3) Total number of outside directors : 4
     4) Percentage of outside directors appointed: 50%
     5) Total number of audit committee : 3 outside auditors
4. Other resolutions :
     1) Approval of the Financial Statements of 36th Business Year (From 01/01/2003 to 12/31/2003);
     2) Amendment of the Articles of Incorporation
     3) Appointment of Directors :
        - Internal Director : Dong Jin Kim, Ruediger Grube, Cheon Soo Jeon (total 3 persons)
        - Internal Director : Dong Gee Kim (total 1 person)
     4) Appointment of a member of audit committee : Dong Gee Kim (total 1 person)
     5) Limit on Remuneration for Board of Directors
* The agendas were approved as proposed
5. Date of AGM : March 12, 2004
6. Others : Total cash dividends in No. 2-2) above is rounded up
to KRW 1,000,000.
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