Leading Investment Securities announced on the 23rd that it held its 26th shareholders' meeting at Wonchang Building in Yeouido, Seoul, and approved all the agenda items as proposed.
At this shareholders' meeting, Kim Chung-ho, vice chairman, and Choi Kyu-won, CEO, were reappointed as internal directors, thus continuing their terms. Leading Investment Securities has been operating under a dual CEO system since 2022. Vice Chairman Kim is responsible for matters regarding synergy and growth among affiliates of the Leading Financial Network, while CEO Choi oversees the securities industry as a whole.
Leading Investment Securities also evaluated that Vice Chairman Kim and CEO Choi contributed to the company's growth, including generating stable revenue. According to Leading Investment Securities, there was balanced growth last year in the sales and trading (S&T) sector, hedge fund sector, and proprietary investment (PI) sector. They strengthened asset soundness by reducing real estate exposure and increasing the provision rate.
Leading Investment Securities also stated that it secured 100% equity in Leading Asset Management last year and solidified its growth foundation through an additional capital increase of 5 billion won. The Myanmar local corporation Micro Finance obtained its license, officially starting its local business activities, and expanded its organization to enter global markets based in Singapore.
Leading Investment Securities approved the financial statements and dividend distribution for the fiscal year 2024 at the shareholders' meeting. Leading Investment Securities recorded a consolidated net profit of 23.2 billion won last year, an increase of 50.6% compared to the previous year. Of this amount, a total of 7.7 billion won will be distributed as dividends, with 34 won per ordinary share and 75 won per preferred share.
Leading Investment Securities reappointed Heo Jeong as an outside director and appointed Kim Hak-hyung as a new outside director. Heo Jeong is a global finance expert who is currently a professor in the Department of Economics at Sogang University, having previously served as a professor in the Department of Economics at the National University of Singapore. Kim Hak-hyung has extensive experience in finance and management, having worked at Hannuri Investment Securities and Hana IB Securities, and served as vice president of SimPak Metal and CEO of Leading Plus.
CEO Choi noted, "Last year, despite various market variables, all employees were able to demonstrate their expertise, which led to revenue growth," and added, "We will continue to strengthen the foundations of our major core businesses and discover new revenue portfolios to become a sustainable Leading Financial Network."