Myung Noh-hyun, vice chairman and CEO of LS Corporation, noted regarding concerns over duplicate listings of subsidiaries, "I will listen to shareholders' voices and ensure that shareholder value is not compromised by actively communicating with shareholders and the market during the initial public offering (IPO) process."
Vice Chairman Myung acknowledged during the regular shareholders' meeting held on the 27th at the LS Tower in Yongsan, Seoul, that there had been insufficient communication regarding the listing of subsidiaries, financial strategies, and shareholder return policies.
LS Corporation is currently considering funding to respond to a boom in the power industry through its subsidiaries, including Essex Solutions, LS Power Solutions (formerly KOC Electric), and LS E-Link. Vice Chairman Myung emphasized that they are in a situation referred to as the "golden time for investment" to secure market dominance in high-growth businesses.
As part of its shareholder return strategy, LS Corporation promised to increase dividends by more than 5% annually, aiming to raise them by more than 30% by 2030. In addition to regular dividends, the company will actively consider interim dividends within its financial resources, and plans to formalize corporate briefings more than twice a year to enhance shareholder communication.
Vice Chairman Myung said, "In the future, we will continue to respect shareholders and practice the fundamental values of corporations by promoting mutual growth with stakeholders," adding, "I will do my utmost to enhance the company's profitability and achieve a quantum leap in corporate value, returning that value to our shareholders, starting from this shareholders' meeting."
After the general meeting, Vice Chairman Myung met with reporters and stated regarding the acquisition of LS equity by Hoban Group, the parent company of Taihan Cable & Solution, which is embroiled in litigation with LS Cable & System, "I don't know why that is happening, so I am keeping a close eye on it," and added, "I will arrange separate communication opportunities."