Cash dividend per share increased to 100 KRW (2.0% yield, 28.3% payout ratio) from 70 KRW in 2024; share cancellation of 300,000 shares in 2025 and additional 200,000 in 2026.
8 out of 15 key governance indicators unmet (no written shareholder return policy, CEO succession plan, internal control policy, etc.), but improvements include >40% outside directors and first female insider director.
Value-up plan announced: expand eSIM B2B roaming, secure 5G/6G references, target dividend payout ratio ≥25%, and further share buybacks and dividend process improvements.
[AI Summary]UANGEL shows improving financials and enhanced shareholder returns, but significant governance gaps limit mid-to-long-term appeal. Future policy improvements and execution will be critical for stock performance.