Dong Suh Files Corporate Governance Report... Shareholder Rights and Board Independence Lacking; High Payout Ratio but Governance Improvements Needed
Dong Suh disclosed its 2025 corporate governance report, raising concerns about shareholder rights and board independence due to low compliance with key indicators
Shareholder meeting convocation notice was given only 2 weeks in advance, and electronic voting was not adopted, limiting shareholder participation
The board is entirely male, lacking gender diversity, and has only one outside director, resulting in insufficient independence
Dividend policy and predictability are inadequate, with no formal shareholder return policy and no amendment of articles for dividend procedure improvement
The company operates with a single auditor instead of an audit committee, and the audit support organization lacks independence
Consolidated revenue reached 532.9 billion KRW, operating profit 45.3 billion KRW, and net income 146.5 billion KRW; cash dividend of 1,140 KRW per share resulted in a payout ratio of 77.6%
The largest shareholder holds 67.43%, limiting minority shareholder influence and indicating significant room for governance improvement