Nam Hyung-doo and Hong Beom-sik appointed as outside directors… Hyuk-Joo Lee re-appointed as an inside director
CEO Hwang emphasizes media and content business, platforming for children is important. Hwang Hyun-sik, CEO of LG Uplus, is holding the 26th regular general shareholders meeting at the auditorium of the Yongsan office building in Seoul on the morning of the 18th. © News 1
Reporter Ji-won Yoon = Hwang Hyun-sik, CEO of LG Uplus, repeatedly emphasized that he would strengthen new businesses with a focus on platforms and contents.
On the morning of the 18th, LG U+ held the 26th general shareholders meeting at its headquarters in Yongsan, Seoul. At the general meeting of shareholders on that day, 1,664 shareholders attended both online and offline. The number of stocks held by the shareholders present on the day corresponds to 80.02% of the total number of issued stocks.
At the general shareholders meeting, a resolution was made on the Δapproval of business reports and financial statements;Δappointment of new outside directors and other non-executive directors;
The shareholders of LG U+ who attended the shareholders meeting decided on the agenda without any objection. As a result, Hyung-doo Nam, a professor at the Graduate School of Law at Yonsei University, and Beom-shik Hong, head of LGs business strategy division, were newly appointed as outside directors. Professor Nam will also serve as a member of the audit committee. Hyuk-Joo Lee, Chief Financial Officer, was re-appointed as an inside director.
A plan was also passed to pay a cash dividend of 250 won per common stock at the end of the year. LG U+s dividend per share for 2021 totaled 550 won, including an interim dividend of 200 won, up 22.2% from the previous years 450 won. The separate dividend payout ratio is 35%.
CEO Hwang, who attended the site as chairman of the shareholders meeting on the same day, said that LG U+ worked hard to create a customer-oriented company to the core.
Hwang Hyun-sik, CEO of LG Uplus, held a back briefing with reporters after the general meeting of shareholders on the 18th. © News 1 Reporter Yoon Ji-won
In addition, CEO Hwang re-emphasized the idea of focusing on new businesses centered on platform and content at the shareholders meeting on the same day. In the B2C area, CEO Hwang said that he would expand childrens country, idol live, and sports to the platform business and accelerate the growth of data, advertisement, and content businesses that can create synergy in connection with the platform business.
It is interpreted as his will to continue strengthening the media platform business this year. Previously, LG U+ launched U+ Dive, an extended reality content platform, following the exclusive launch of Disney+ U+ TV last year.
In a back briefing with reporters after the shareholders meeting on the same day, CEO Hwang said that he is looking at the media business in B2C and is thinking about various things.
In addition, CEO Hwang expressed his position that he is also considering the expansion of his own subscription business. Previously, in June last year, LG U+ launched Subscription Cock, which provides subscription services such as contents, cosmetics, and food and beverages for VIP or higher subscribers.
In response, CEO Hwang said that he is not using a paid subscription model, but is thinking about commercializing it as data and customer experiences are accumulating through the existing subscription cock.
On the other hand, when asked about the situation in which CJ ENM is in conflict over IPTV content usage fees, he replied that he had made a friendly atmosphere between the two companies so far, and that the rest is being discussed. Earlier, at a press conference held in Barcelona, Spain, on the 1st, CEO Hwang said that the two companies had reached an agreement to the extent of building a better cooperative relationship, although it started off badly.
While the discussion of frequency allocation for 5G mobile communication eventually passed to the next government, CEO Hwang repeated his previous position focusing on the publics benefit on this day as well. Hwang said he had not yet heard how the discussion was conducted at the Ministry of Science and Technology, and said he hopes that the decision will be made from the point of view of the peoples benefit and that he expects a wise decision.