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Press Release
1997 Sales 3.512 Trillion Won
Elects Three Outside Directors and One Outside Auditor
SK Telecom (President: Jung Uck Seo) held the 14th annual stockholders meeting at its Namdaemun headquarters conference room at 9:00 am on March 27.
At the meeting, the company reported on its past year operations and the result of the audit to the stockholders. The figures reported included 12 million cellular and paging service users, 3.512 trillion won in sales, 76.2% growth from last year and 113.6 billion won in net profit.
The company said that this remarkable accomplishment was possible only because it has made continuous efforts to improve call quality in cutthroat competition. It also said that it would continue to expand the service coverage and implement a series of measures to increase its adaptability in the ever-changing market environment. It would focus more on customer satisfaction and pursue the maximization of the shareholder profits by achieving its 1998 projected annual sales of 3.8 trillion won, said the company.
The shareholders approved the 1997 balance sheet, the statement of profit and loss, the statement of the disposal of the surplus profits, the amendment of the corporate articles and the appointment of the executive officials. The dividend was set at 3% percent in stock and 750 won (15% of the face value) per share in cash.
In accordance with the rules on the listing of securities that require companies to appoint outside persons to a quarter of the total number of the director positions, the shareholders appointed Dae Shik Kim, professor of Han Yang University, Sang Ku Nam, professor of Korea University, and Young Soo Shin, a CPA, as the outside directors. Kun Shik Kim, Seoul National University professor, was appointed to the position of outside auditor.
At the meeting, the company reported on its past year operations and the result of the audit to the stockholders. The figures reported included 12 million cellular and paging service users, 3.512 trillion won in sales, 76.2% growth from last year and 113.6 billion won in net profit.
The company said that this remarkable accomplishment was possible only because it has made continuous efforts to improve call quality in cutthroat competition. It also said that it would continue to expand the service coverage and implement a series of measures to increase its adaptability in the ever-changing market environment. It would focus more on customer satisfaction and pursue the maximization of the shareholder profits by achieving its 1998 projected annual sales of 3.8 trillion won, said the company.
The shareholders approved the 1997 balance sheet, the statement of profit and loss, the statement of the disposal of the surplus profits, the amendment of the corporate articles and the appointment of the executive officials. The dividend was set at 3% percent in stock and 750 won (15% of the face value) per share in cash.
In accordance with the rules on the listing of securities that require companies to appoint outside persons to a quarter of the total number of the director positions, the shareholders appointed Dae Shik Kim, professor of Han Yang University, Sang Ku Nam, professor of Korea University, and Young Soo Shin, a CPA, as the outside directors. Kun Shik Kim, Seoul National University professor, was appointed to the position of outside auditor.