KDB recommended Professor Sohn Dong-hwan as an independent director of KT&G

Korea Industrial Bank recommended Sohn Dong-hwan to shareholders. (손동환) The professor is an independent director of KT&G. The bank is also KT&G’s largest shareholder.

 

According to the Maeil Business Daily, Korea Industrial Bank recommended Sohn to its shareholders. (손동환) The professor is an independent director of KT&G. The bank is also KT&G’s largest shareholder.

 

Sohn was a senior judge at the Seoul Central District Court before leaving the court in 2021 to become a professor of legal competition law at Kyunkwan University.

 

KT&G’s board of directors has eight members, including two internal directors who will leave and six who will be independent. Industrial Bank owns KT&G and its largest shareholder is 6.93%. In addition, the proportion of minority shareholders reached 60.36%. Recently, however, the police have been investigating whether KT&G’s outside directors are on business trips, so Professor Sohn is more likely to be appointed.

 

The Board of Directors of KT&G consists of eight members in addition to two internal directors (Baek Bok-in, President of KT&G, and Bang Kyung-man, Senior Vice President of KT&G), and six prominent external directors. Among them, former SK board members, MaterialsCEO Lim Kyu and lawyer Baek Jong-soo will expire next month.

As the largest shareholder of KT&G, Korea Industrial Bank owns KT&G. &G 6.93% stake (as of June last year). Second, the National Pension Service has a 6.31 percent stake. Minority shareholders hold 60.36% of the shares.