On March 29, 2019, Dong-A ST held its 6th annual general shareholders’ meeting at 10AM at the 7F auditorium of its Yongshin-dong headquarters in Dongdaemun-gu, Seoul in the presence of shareholders and company executives.

At the annual general shareholders’ meeting on this day, six items of agenda were proposed and passed according to the original plan, as follows: approval of the 6th (January 1, 2018 ~ December 31, 2018) financial statement (including the surplus appropriation statement (draft)) and the consolidated financial statement; partial change of the articles of association; partial change of the retirement allowance policy; appointment of the director; appointment of the audit committee members; and approval of the director’s compensation limit.

According to the 6th annual sales report, Dong-A ST generated revenues of 567.2 billion KRW and an operating profit of 39.4 billion KRW in 2018, showing YoY growth of 2.2% and 63.8%, respectively, and set a cash dividend of 1,000 won per ordinary share.

Professor Kim Geun-su of Kyunghee University was re-appointed as an outside director and audit committee member. He was recommended as an outside director at the outside director candidate recommendation committee held in February.

Dong-A ST organizes the board of directors, its principal decision-making body, with a majority of outside directors, and separates the CEO and the chairman of the board of directors to improve transparency and shareholder value in corporate governance. It also operates an outside director candidate recommendation committee with a majority of outside directors, and an audit committee composed entirely of outside directors.

Chairman Eom Dae-sig of Dong-A ST, who chaired the general shareholders’ meeting, said in his greetings, “Last year, Dong-A ST worked hard to lay solid foundations for the long-term sustainable growth of the company, make the necessary changes, and meet the expectations of our shareholders. We also strengthened our compliance standards, including the ISO 37001 certification, the anti-corruption management system, and the introduction of the cost execution monitoring system. Sales also rebounded for the first time since the spin-offs of Dong-A ST in 2003 due to domestic and overseas sales growth.”
Chairman Eom Dae-sig went on to say, “All of our major R&D projects, including the MerTK inhibitory mechanism immunosuppressant project licensed out to AbbVie, the immune cancer agent project we are conducting in collaboration with AstraZeneca, and the new mechanism diabetes treatment DA-1241 project we are developing in-house, are well underway.”

He continued, “Dong-A ST will establish its management strategy for achieving this year’s vision of ‘leaping as a leading company with global new drugs’, and will continue improving profitability through process innovation to secure new growth engines for the global era.”