Samsung Elec¡¯s board to seat non-Korean, female members

2018.02.23 15:12:30 | 2018.02.23 15:13:09

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In line with its earlier pledge, Samsung Electronics Co. said it was adding non-Korean national and female outside directors for diversity in its boardroom.

The company has announced such a decision after it held a board meeting on Friday where it set an agenda for the upcoming shareholders¡¯ meeting scheduled on March 23 that includes adding new independent directors, adjusting limit on directors¡¯ compensation and stock split plan.

The board recommended Kiswe Mobile Chairman Kim Jeong-hoon, Ewha Women¡¯s University professor Kim Sun-wook and Seoul National University professor Park Byung-kook for new independent directors, replacing former Yonsei University president Kim Han-joong and Seoul National University professor Lee Byung-ki whose terms end next month.

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Kim Jeong-hoon is a Korean-American businessman and entrepreneur who co-founded Kiswe Mobile in 2013, a company that makes mobile applications for watching sports. Kim Sun-wook, former president of Ewha Women¡¯s University, served as the first female minister of government legislation during the Roh Moo-hyun administration.

It isn¡¯t the first time for the South Korean tech behemoth to hire foreign or female outside directors. The company vowed the mix presence to be permanent as a part of a series of measures to enhance transparency and better reflect shareholders¡¯ views.

It had foreign outside directors including CEO of Bayerische Landesbank Seoul Franz-Hermann Hirlinger, Applied Materials Chairman Tetsuo Iwasaki and Icon Medialab Chairman Goran Sture Malm between 1998 and 2009. It also appointed its first female independent director Kim Eun-mi, Ewha Women¡¯s University professor in 2013.

By Hwang Hyung-gyu and Choi Mira

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