Lee Seok-Hee, CEO of SK Hynix, said, "We will strengthen our original competitive edge in the semiconductor business."
CEO Lee said at the 71st General Shareholders' Meeting held at the headquarters of Icheon City in Gyeonggi Province on the 22nd, "The unprecedented boom of the last two years in the history of the semiconductor industry has passed. This year, the global economy is experiencing uncertainties and demand for memory is slowing. CEO Lee was appointed as CEO at the end of last year. For the first time, he acted as the chairman of the shareholders' meeting.
"We will strive to reduce costs by refining and medizing the processes and improving our yield, which are core competencies in the memory semiconductors sector. We will make 2019 a year for creating the foundation for another leap,” CEO Lee said and added, "We will make visible the fruits of creating social value by expanding our business model based on shared infrastructure centering on semiconductor ecosystem and community. We will not depend on the old successes and achievements; rather, we will continue to grow through innovations that transcend the existing SK Hynix."
A total of 4720 shareholders attended the meeting. SK Hynix introduced the electronic voting system for the first time this year. The number of shareholders in attendance at the shareholders' meeting was slightly over 100.
The agenda items were △ approval of the 71st financial statement △ changes in the articles of incorporation △ appointment of outside directors and directors △ approval of the remuneration of directors and △ grant of stock options. They were all passed as the original drafts.
The industry's focus was on the appointment of Vice President Oh Jong-Hoon of Global Sales Marketing as a new internal director. VP Oh became one of the registered executives along with Lee Suk-Hee, vice chairman Park Sung-Wook, and other non-executive directors including Park Jeong-Jo, SK Telecom president.
VP Oh, a graduate of the Department of Electrical Engineering of Seoul National University, has over 30 years of experience in the memory semiconductor industry, including circuit design, marketing, and product planning. VP Oh has 49 US patents. He served as the Product Planning Group Manager, Head of DRAM Product Division, and Head of DRAM Design Division at Marketing Department of SK Hynix.
Ha Young-Goo, Kim & Chang Adviser, was appointed as a new outside director. Adviser Ha is a financial accounting specialist who has served as the President of the City Bank of Korea and the President of the Federation of Korean Banks. He is an outside director with Professor Choi Jong-Won of Seoul National University, Professor Shin Chang-Hwan of Sungkyunkwan University, Professor Song Ho-Kun of Pohang University of Technology, Visiting Professor Cho Hyun-Jae of Gwangju University, and Professor Yoon Tae-Wha of Gachon University.
The directors' renumeration limit was set at 12 billion won, the same as the previous year. CEO Lee Seok-Hee and Jung Tae-Sung, CEO of NAND development business, were given stock options for 180,000 shares and 8171 shares, respectively. The date of the assignment for CEO Lee starts on March 22nd, and on February 28th for CEO Jung.
The shareholders' meeting on this day was held for 24 minutes.
