SK networks held the 68th General Shareholders’ Meeting
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2021-03-29
- 2020 operating income of KRW 123.9 billion, 13% yoy increase
… Sustained performance from the business model transition centered around home care and mobility rental services.
- Corporate Governance Charter’s foundational regulations were specified in the Articles of Incorporation and a new female independent director was appointed.
- President Sang-kyu Park, “ESG management system will be established to enhance the BOD’s responsible management.”
SK networks held the 68th General Shareholders’ Meeting on March 29, 2021 at the Myeongdong head office and approved various agenda items including financial statements, partial modification of the Articles of Incorporation, director and audit committee member appointments, etc. as they were originally proposed.
In the midst of challenging business conditions including economic recession inside and outside Korea as well as expanded uncertainties, SK networks achieved KRW 10.6 trillion in sales and KRW 123.9 billion in operating income last year thanks to its business transition focused on home care and mobility rental services. While sales decreased by 18% based on a year-on-year comparison due to the gas station business sell-off and COVID-19 influence, operating income increased by 13%.
SK magic, in particular, achieved sales of KRW 1 trillion and reached more than 2 million rental accounts as it continued to release new products reflecting customer trends and market changes. SK rent-a-car also succeeded in building business competitiveness through synergy creation after spending its first year as a joint corporation.
As to the modification of the Articles of Incorporation, foundational regulations were specified for the Corporate Governance Charter which was instituted to establish and develop a sound corporate governance. In addition, new provisions were added to appoint one of the audit committee members separately and prevent directors from being composed of only one specific gender so as to fully reflect revisions to relevant laws and regulations including the Commercial Act and the Financial Investment Services and Capital Markets Act.
As per director appointments, Director Young-won Ha and Ho Im were reappointed before their tenure expiration in addition to new director appointments for Director Ho-jeong Lee (internal director) and Moon-young Lee (independent director, audit committee member).
On the day of the General Shareholders’ Meeting, Park Sang Kyu, CEO& President of SK networks said to shareholders, “Our plan is to restore the market trust on us through active investments on future value businesses and to upgrade our business models to be connected with social issue resolutions,” and emphasized, “We will establish an ESG management and HR committees under the BOD to enhance responsible management.”
This year, SK networks is expected to prioritize its efforts mainly on: increasing business performance focused on rental services; seeking to ensure additional growth engines; and, reinforcing ESG management activities for sustained business advancement.
