Dongkuk CM of Dongkuk Steel held its third regular shareholders meeting on the 24th. Dongkuk CM, which swung to a loss last year, said with its business report that it would achieve a rebound in results.
The meeting was held on the morning of the same day at Ferrum Tower in Suha-dong, Jung District, Seoul, and four proposed agenda items were approved as originally presented.
The items were ▲ approval of the financial statements ▲ partial amendment of the articles of incorporation ▲ appointment of an outside director to serve as an Audit Committee Commissioner ▲ approval of the limit on directors' remuneration.
Chief Executive Park Sang-hun of Dongkuk CM said in the chair's greeting, "We suffered revenue deterioration due to unprecedented trade issues, a domestic demand slump, and the influx of unfair imports."
Still, "we are recovering as we continue to improve the size of the loss," and "we revised the mid- to long-term strategy DK Color Vision 2030 to make it more detailed and advanced."
Park also said, "Following the European branch in 2024, we opened offices in Houston and Australia, continuing our global growth strategy."
Park shared last year's business report, including management performance, financial indicators, plans to enhance shareholder value, and the trend of improved results at AJU Steel, which was acquired.
On a consolidation basis last year, Dongkuk CM posted an operating loss of 38.8 billion won, swinging to a loss from a year earlier. Revenue was 2.7687 trillion won, up 27.9% over the same period.
Park said, "We are working to maintain the recovery trend in results in the first quarter of this year as well," adding, "We regard the current situation as a grave transition period for growth and will swiftly achieve a rebound in results."
Park emphasized that "shareholder-first management" is the top principle and announced the implementation of dividends of 300 won per share.
Starting with this year's settlement of account dividends, Dongkuk CM will set a floor of 300 won per share for the year-end dividends and institutionalize digital IR to practice trusted management.