Namhae Chemical Publishes 2025 Governance Report: KRW 90 Dividend Maintained, Shareholder Return and Governance Improvements Still Needed

[Shareholder Meeting] Convening notice 4 weeks prior, electronic voting adopted to enhance shareholder participation.
[Dividend] Final dividend of KRW 90 per share for FY2025 (payout ratio 15%), up from KRW 80 last year, but no dividend predictability provided.
[Treasury Stock] Holding 1,730,148 shares (approx. 3.5%) for price stabilization; considering additional shareholder return measures.
[Board] Board of 18 (4 inside, 8 outside, 6 non-executive). Audit committee fully independent with 4 outside directors.
[Governance] Non-compliance on several key indicators: CEO succession policy, dividend policy, gender diversity, etc. Improvement needed.
[External Audit] Designated auditor Samjung (2023-2025) ended; Han Young appointed. Quarterly communication with audit committee.
[Value-up] No corporate value-up plan disclosed; will consider after stable cash flow from new investments.
[AI Summary]The 2025 governance report shows positive aspects like dividend increase and audit committee independence, but non-compliance on key metrics such as shareholder return policy, CEO succession, and board diversity highlights the need for governance improvements, resulting in a neutral impact on the stock price.