SK IE Technology: Persistent Losses in 2025 and Weak Governance

Consolidated 2025 revenue: KRW 261.8B, operating loss KRW 246.4B, net loss KRW 211.4B; second consecutive year of losses.
No cash dividends paid since establishment in 2019; no mid/long-term shareholder return policy.
Non-compliance with 8 out of 15 core governance indicators (e.g., less than 4-week notice for AGM, no dividend predictability, no CEO succession training).
Board: 6 members, 4 outside directors (66.7%), outside chair, audit committee fully independent.
At the 7th AGM, adopted cumulative voting and amended charter to set dividend record date by board resolution.
Debt guarantees for subsidiaries: approx. USD 580M (SK hi-tech battery materials Poland, etc.).
During 2025, capital increase in Polish subsidiary KRW 245.2B and decision to acquire shares in other corporations.