SKC Corporate Governance Report: Complies with 13 of 15 Key Indicators, No Dividend and Paid-in Capital Increase Raise Concerns, Governance Improvement Continues
SKC complied with 13 out of 15 key indicators (86.7%) in its corporate governance report, with non-compliance on dividend policy notification and actual dividend payment.
In fiscal 2025, the company reported a consolidated operating loss of 305.0B KRW and a net loss of 719.4B KRW, resulting in no dividend payment. A shareholder return policy has not been established; it will be formulated after returning to profitability and assessing investment progress.
The board consists of 7 members: 2 inside directors, 1 non-executive director, and 4 independent directors (57%). The chairperson is an independent director, the audit committee is composed entirely of independent directors, and female directors account for 29%, with plans to increase gradually.
A paid-in capital increase of 11,730,000 shares (approx. 31% dilution) decided in February 2026 is scheduled to list on June 8, 2026. In 2025, perpetual exchangeable bonds worth 385.0B KRW were issued, using 3,593,469 treasury shares as exchange targets.
[AI Summary]SKC demonstrates strong governance with a high compliance rate (86.7%) and an independent board, but the absence of dividends for two consecutive years and the large paid-in capital increase raise concerns about short-term shareholder value erosion. The company's path to profitability and the establishment of a concrete shareholder return policy will be key to stock price recovery.