Im Jae-taek, the chief executive of Hanyang Securities, cited Meriz Financial Group as an example and noted, "We are pondering how to elevate both the intrinsic value of corporations and shareholder value together."
Im noted at the regular shareholders' meeting of Hanyang Securities held on the 31st that "Meriz Financial Group's price-to-book ratio (PBR, market capitalization ÷ net worth) exceeds 2, significantly surpassing the average in the securities industry."
Im evaluated that Meriz Financial Group has been recognized as a new type of platform. He added, "Efforts to simply boost stock prices will be avoided," stating, "Hanyang Securities aims to be recognized in the market as a new platform in the long term."
At the regular shareholders' meeting that day, all agenda items were passed as proposed. Jo Jang-gon was appointed as the new auditor. The newly appointed auditor, Jo Jang-gon, has served as the representative attorney at PoES Joint Law Office and as the representative attorney at Law Firm Yeoyul, among other roles. The term is for one year.
As internal directors, Kim Byung-cheol, the representative of KCGI Asset Management, was appointed, and Jung Tae-do, vice president of KCGI, was appointed as other non-executive director. Additionally, Kang Seung-soo, the representative officer of DS Investment Partners, and Hwang Nok, a counsel of Law Firm Class Hangyeol, were appointed as outside directors. All appointments are conditional based on the stock purchase agreement between Hanyang Academy Foundation and KCGI. KCGI is undergoing a major shareholder eligibility review by the financial authorities to acquire Hanyang Securities.
Hanyang Securities decided to pay cash dividends of 950 won per common share and 1,000 won per preferred share as settlement of accounts dividends. The dividend yields are 7.4% and 7.2%, respectively.