According to a report by Daily Economy, Korea Industrial Bank has recommended Professor Son Dong-hwan to serve as an independent director at KT&G to its shareholders. At the same time, the bank is the largest shareholder of KT&G.
According to reports, Professor Sun Donghuan was formerly a senior judge at the Seoul Central District Court in South Korea. He left the court in 2021 and took on a new role as a professor of fair trade law at Sungkyunkwan University.
According to reports, the board of directors of KT&G consists of 8 members, with two internal directors set to resign and the remaining 6 being independent directors. An industry bank holds 6.93% of KT&G's shares, making it the largest shareholder. Additionally, small shareholders hold a 60.36% stake. However, recently, the police are investigating suspicions of external directors of KT&G engaging in excessive overseas business trips, so there is a high likelihood that Professor Sun Dong-hwan will be appointed.
The board of directors of KT&G is composed of 8 members, including two internal directors (KT&G President Baek Bok-in and KT&G Senior Vice President Bang Kyung-man) and 6 external directors. Among them, the terms of office of board members and former SK Materials CEO Lim Min-kyu and lawyer Baek Jong-shu will expire next month. The Industrial Bank of Korea is KT&G's largest shareholder, holding 6.93% of KT&G's shares (as of June of last year). In addition, the Korea National Pension Corporation holds 6.31% of shares. Minority shareholders hold 60.36% of the shares.
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