32.23% Capital Reduction for Deficit Coverage and Financial Improvement

Capital reduction of 21,000,000 shares (32.23%) via consolidation of 1.476 shares into 1 share, effective June 22, 2026; capital reduced from KRW 32,576,019,500 to KRW 22,076,019,500
Purpose: to improve financial structure by covering accumulated deficits; creditor objection procedure omitted
Key resolutions approved at the 2026 AGM (including the reduction) are under court injunction (2026Kahap538, 539) and re-submitted to this EGM
Articles amendment: new clause capping compensation for newly elected directors at KRW 1, plus changes reflecting revised Commercial Act and renaming outside directors
Director candidates: Kim Jun-ho, Park Jin-sook, and Choi Soo-il (resigned) for inside; Hwang Shin-yong and Kim Dong-hyun (resigned) for outside – 2 of 5 resigned, 3 to be elected
Auditor candidates: Hyun Ki-yong (documented) and Kim Shin-myung (no documentation submitted)
Majority shareholder and related parties (4,845,670 shares, 14.01%) will not vote their shares at this EGM