DAEHAN STEEL Files 2025 Corporate Governance Report: Implements Shareholder Returns Including Share Cancelation and Bonus Issue, but Governance Gaps Remain
DAEHAN STEEL disclosed its 2025 Corporate Governance Report as of May 28, 2026, outlining overall governance status and shareholder return policies.
During the disclosure period (2025), the company repurchased approximately KRW 13.6B worth of treasury shares and canceled KRW 7.6B (500,000 shares), enhancing shareholder value.
In December 2025, a bonus share issuance of 11,457,199 shares (0.6616554 shares per existing share) was executed using KRW 11.46B of share premium, increasing liquidity.
Dividend remained at KRW 500 per share (50% par value), with a consolidated payout ratio of 58.9% and separate payout of 55.0%, maintaining a stable dividend policy.
Governance gaps include no electronic voting, single-gender board, and failure to provide notice 4 weeks before the general meeting, but share buybacks and bonus issuance reflect positive shareholder return efforts.
Internal control policies (risk management, compliance, internal accounting, disclosure management) are in place, with a full-time auditor (CPA) ensuring audit independence and expertise.
A preliminary value-up plan was disclosed in March 2026 after board reporting, with further plans expected in H2 2026.
[AI Summary]This routine governance report shows ongoing shareholder returns (share cancellation, bonus issue, dividends) but has minor governance deficiencies, resulting in a neutral impact on shareholder value.