NOROO HOLDINGS Publishes 2026 Corporate Governance Report: Strengthened Shareholder Return Policy and Ongoing Governance Improvements, Some Core Principles Not Fully Complied
19 consecutive years of year-end dividend; 2025 dividend of 600 KRW per common share (yield 2.67%)
Mid-to-long-term dividend policy established: payout ratio ≥30%, minimum dividend 550 KRW per share (2025-2027), enhancing predictability
No share buyback or cancellation; shareholder return focused on cash dividends
Largest shareholder and related parties hold 45.35%; minority shareholders 22.57%
Board composition: 2 inside directors, 2 outside directors (50%), newly appointed female outside director for gender diversity
ESG Committee in operation; no Audit Committee or Compensation Committee
CEO succession policy not documented; CEO also chairs the board
Shareholder meeting convocation notice sent 14 days prior (non-compliant with 4-week rule); electronic voting and proxy solicitation adopted
Internal audit: full-time auditor system with audit office; no accounting/finance expert
Consolidated revenue: KRW 1.239 trillion, operating profit KRW 64.5 billion, net income KRW 58.5 billion (2025)
[AI Summary]This governance report shows stable dividend policy and ESG committee operation, but deficiencies remain in CEO succession planning, absence of audit committee, and non-compliance with convocation period. Overall, no material impact on shareholder value, but governance improvement pace may affect investor confidence.