SK Square Discloses 2025 Corporate Governance Report... Compliant on 11/15 Key Indicators, Minor Gaps in CEO Succession Policy and Internal Audit Independence, Efforts to Enhance Value via Strong Shareholder Returns and Earnings Improvement
SK Square disclosed its 2025 (5th fiscal year) Corporate Governance Report, complying with 11 out of 15 core governance indicators ('O') and marking 4 as non-compliant ('X'). Non-compliance items include: holding the general meeting on a concentrated date, lack of a formalized CEO succession policy, incomplete independence of the internal audit support organization, and absence of consent rights for the appointment/dismissal of the head of internal audit.
The Board consists of 7 members including 5 outside directors (71%), with outside director Kang Ho-in as Chairman. The Audit Committee comprises all 5 outside directors, all of whom are accounting/finance experts, ensuring independence and expertise.
The company established a mid-term shareholder return policy for 2026-2028, planning to return at least 30% of recurring dividend income and a portion of investment gains through share buybacks and cancellations or cash dividends. In April 2025, it declared an interim dividend of 1,550 won per share (total approx. 204.3 billion won).
In 2025, consolidated operating profit surged to 8.797 trillion won (from 3.921 trillion won in 2024), and net income reached 8.819 trillion won (from 3.651 trillion won). Total consolidated assets stood at 30.505 trillion won, with separate assets at 6.598 trillion won.
During the disclosure period (2023-2025), the company executed share buybacks and cancellations totaling 750 billion won, and an additional 40 billion won buyback was underway as of March 2026, demonstrating continued shareholder returns.
In November 2025, the company voluntarily disclosed its Corporate Value-up Plan, targeting a NAV discount of 30% or less and PBR of 1x or higher by 2028. It conducted 406 IR activities since 2025 to communicate with stakeholders.
[AI Comprehensive Analysis]SK Square's overall governance is strong, but the lack of a formalized CEO succession policy and certain independence issues in internal audit remain areas for improvement. While governance risk is low, the concrete implementation of shareholder return policies and investment performance will be key variables for corporate value.