COSMAX Discloses 2025 Corporate Governance Report: Announces Dividend of 3,300 KRW per Share and Value-Up Plan, Plans to Address Governance Gaps
Complied with 11 out of 15 core governance indicators (73.3%), showing improvement from prior year
Declared cash dividend of 3,300 KRW per share (dividend yield 1.9%, up 43.5% from 2,300 KRW in prior year), maintaining payout ratio of 28.5% of individual net income
Dividend policy set at around 30% of individual net income; provided predictability by setting record date (March 31, 2026) before dividend announcement (March 26, 2026)
Shareholder meeting notice sent only 2 weeks prior instead of required 4 weeks; plans to improve to 4-week notice
No formal CEO succession policy in place; reviewing introduction of candidate development program
Board consists of 3 inside directors and 2 outside directors (including 1 female), meeting legal requirements with 40% outside directors
Board chairperson is CEO (Choi Kyung), not an independent director; cites business expertise as reason
Board evaluation score: 4.78/5; individual outside director evaluation: 4.75/5
Internal audit function: one full-time auditor and a 5-member management diagnosis team with accounting experts; held 4 quarterly face-to-face meetings with external auditors
Disclosed value-up plan on December 3, 2025 via board resolution; conducted over 20 communications with global institutional investors thereafter
No share buyback or cancellation; no issuance of equity-linked bonds
[AI Summary]COSMAX's governance report confirms shareholder return commitment through strong dividend growth (3,300 KRW per share) and value-up plan disclosure, but gaps such as lack of CEO succession policy and insufficient shareholder meeting notice period remain, requiring improvement for long-term trust enhancement.