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Press Release
At that meeting, the largest cash dividend in the company’s history was approved for payment to shareholders. This dividend of 5,500 Korean won per share totaled 404.9 billion won. This is 306% greater than the total for last year.
Jung Nam Cho, and Sang Koo Nam, were reappointed as directors, and Sung Min Ha was appointed as a director for the first time.
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SK Telecom held its 20th annual shareholders’ meeting in the Convention Hall on the 4th floor of the Boramae SK Telecom Office Building at 9 a.m. on March 12.
SK Telecom achieved 9.52 trillion won in total sales in 2003, a 10.26% increase over the previous year. Net income came to 1.94 trillion won, showing more than a 28.60% year on year increase
With the aim of enhancing shareholder value-oriented management, the cash dividend (Face value: 500 won) was set at 5,500 won per share, a three hundred percent increase
over that of the previous year. This is the largest dividend payment to shareholders in the company’s history. The total amount of this cash dividend was 404.9 billion won.
At the shareholder’s meeting, Jung Nam Cho and Sang Koo Nam were reappointed as in-house director and outside director respectively. In addition, Sung Min Ha, head of SK Telecom’s Strategic Planning Office, was appointed as a director for a new term. As a result, the total of eight members of SK Telecom’s Board of Directors was finalized. The board consists of four in-house directors (Jung Nam Cho, vice-chairman and representative director, Shin Bae Kim, president and representative director, Young Jin Kim, director, and Sung Min Ha, director) and four outside directors (Yong Woon Kim, Sang Koo Nam, Sang Chin Lee, and Jae Seung Yoon).
The board approved the payment of an interim dividend through an amendment in the articles of incorporation. This was done in order to ensure the stability of the stock price, and to increase shareholder value going forward. Furthermore, the board decided to add a Movable Property Lease Business to the articles of incorporation in order to effectively include the company’s management activities for new businesses such as the satellite lease for the satellite digital mobile broadcasting (DMB) service.
SK Telecom vice-chairman Jung Nam Cho said in his address to the shareholders, "Last year, SK Telecom achieved 9.52 trillion won in total sales with a net income of 1.94 trillion won. This was the highest business performance in the company’s history. 2004, as the year of the 20th anniversary of SK Telecom, will be an important and promising year for securing a strong growth base for the next ten years. To this end, we will continue to explore new growth engines that will help us keep our leadership position in the market". He also stated, "This year, we will properly respond to a rapidly changing market environment, and continue to make vital innovations to our existing mobile business. We will also create new value by actively advancing into new business areas, thereby further solidifying our leadership role in the marketplace".
SK Telecom achieved 9.52 trillion won in total sales in 2003, a 10.26% increase over the previous year. Net income came to 1.94 trillion won, showing more than a 28.60% year on year increase
With the aim of enhancing shareholder value-oriented management, the cash dividend (Face value: 500 won) was set at 5,500 won per share, a three hundred percent increase
over that of the previous year. This is the largest dividend payment to shareholders in the company’s history. The total amount of this cash dividend was 404.9 billion won.
At the shareholder’s meeting, Jung Nam Cho and Sang Koo Nam were reappointed as in-house director and outside director respectively. In addition, Sung Min Ha, head of SK Telecom’s Strategic Planning Office, was appointed as a director for a new term. As a result, the total of eight members of SK Telecom’s Board of Directors was finalized. The board consists of four in-house directors (Jung Nam Cho, vice-chairman and representative director, Shin Bae Kim, president and representative director, Young Jin Kim, director, and Sung Min Ha, director) and four outside directors (Yong Woon Kim, Sang Koo Nam, Sang Chin Lee, and Jae Seung Yoon).
The board approved the payment of an interim dividend through an amendment in the articles of incorporation. This was done in order to ensure the stability of the stock price, and to increase shareholder value going forward. Furthermore, the board decided to add a Movable Property Lease Business to the articles of incorporation in order to effectively include the company’s management activities for new businesses such as the satellite lease for the satellite digital mobile broadcasting (DMB) service.
SK Telecom vice-chairman Jung Nam Cho said in his address to the shareholders, "Last year, SK Telecom achieved 9.52 trillion won in total sales with a net income of 1.94 trillion won. This was the highest business performance in the company’s history. 2004, as the year of the 20th anniversary of SK Telecom, will be an important and promising year for securing a strong growth base for the next ten years. To this end, we will continue to explore new growth engines that will help us keep our leadership position in the market". He also stated, "This year, we will properly respond to a rapidly changing market environment, and continue to make vital innovations to our existing mobile business. We will also create new value by actively advancing into new business areas, thereby further solidifying our leadership role in the marketplace".