Results of General Shareholders' Meeting (Mar. 22, 2002)
2002-03-25On March 22, 2002, the General Shareholders’ Meeting approved and ratified as follows.
1. Non-consolidated Financial Statements of Kookmin Bank
(Unit: millions of Won unless indicated as otherwise)
| As of December 31, 2001 |
|
|---|---|
| Total assets |
156,893,802 |
| Total liabilities |
147,980,260 |
| Paid-in capital |
1,498,487 |
| Total shareholder’s equity |
8,913,542 |
| For the year ended December 31, 2001 |
|
| Operating revenue |
10,993,905 |
| Ordinary income |
1,092,251 |
| Net income |
740,565 |
| Earnings per share (in Won) |
3,706 |
Pursuant to the unqualified opinion of Kookmin Bank’s independent accountant, the non-consolidated financial statements were a fair representation of Kookmin Bank’s financial status in conformity with financial accounting standards generally accepted in the Republic of Korea.
2. Dividend
(Unit: Won unless indicated as otherwise)
| Dividend per stock | Dividend rate | Total payout | Payout ratio | |
|---|---|---|---|---|
| Cash | 100 | 2% of par value(0.2% of closing market price as at December 31, 2001) |
29,966,591,400 | 16.19% |
| Stock | 300 | 6% of par value(0.6% of closing market price as at December 31, 2001) |
89,899,774,200 (based on par value of 5,000 Won per share) |
3. Appointment of Directors
Ten non-executive directors and two executive directors were nominated and elected to Kookmin Bank’s Board of Directors. Of fifteen board members, ten (66.67%) are non-executives and five are executives.
3.1 List of Executive Director
| Name | Education | Career | Tenure | Current position | Member of Audit Committee |
|---|---|---|---|---|---|
| Choulju Lee |
BA in Business Administration, Seoul National University |
Director & Executive Vice President, Hanil Bank |
3 year |
Auditor & Executive Director, Kookmin Bank |
Yes |
| Soonchul Lee |
BA in Economics, Seoul National University |
Head of Supervision Planning & Coordination Department, Financial Supervisory Service |
3 year |
Deputy Governor, Financial Supervisory Service |
Yes |
3.2 List of Non-Executive Directors nominated by shareholder representatives
| Name | Education | Career | Tenure | Current position | Member of Audit Committee |
|---|---|---|---|---|---|
| Henry Cornell |
Grinnell College New York Law Schoo |
David, Polk & Wardwelll |
1 year | Managing Director, Goldman Sachs |
|
| Kyunghee Yoon |
BA in Law, Seoul National University |
Branch Manager, ING Barings, Ltd. |
1 year | Country Manager & Managing Director, ING Barings, Ltd., Korea |
Yes |
| Keunshik Oh |
Ph.D in Social Welfare, Chung-ang University |
Director, Pension Improvement Committee |
1 year | Researcher, Kwangju Society Research Institute |
Yes |
| Moonsoul Chung |
BA in Religion and Philosophy, Won Kwang University |
President, Mirae Corporation |
1 year | Advisor, Mirae Corporation |
|
| Sunjin Kim |
MBA, Korea University |
Vice President, Yuhan Corporation |
1 year | President, Yuhan Corporation |
Yes |
| Dongsoo Chung |
BA in Business Admin, Seoul National University |
Deputy General Manager, Office of National Budget Administration |
1 year | Retired |
|
| Sunjae Cho |
Ph. D in Administration, Kyunghi University |
President, National Institute for International Education Development |
1 year | Chairman, Korean Teachers Credit Union |
Yes |
3.3 List of Non-Executive Directors nominated by the Board of Directors
| Name | Education | Career | Tenure | Current position |
|---|---|---|---|---|
| Woonyoul Choi |
Ph.D. in Business Administration, University of Georgia |
Chairman, KOSDAQ Committee |
1 year | President, Korea Securities Research Institutel |
| Jihong Kim |
BA in Economics, Seoul National University |
Executive Director, Korea Academy of International Business |
1 year | Professor, Business & Economics, Hanyang University |
| Timothy Hartman |
BA in Accounting, Xavier University |
CEO, Balwin United Corporation |
1 year | Director, Infornet Services Corporation |
4. Resolutions
All the six agenda items listed below were approved and ratified as originally proposed.
• Approva l of audited non-consolidated financial statements (Balance sheet, Income statement and Statement of appropriation of retained earnings) for the fiscal year 2001 (2001. 1 .1 ~ 12. 31)
• Amendme nt to the Articles of Incorporation
• Appoint ment of Directors
• Appoint ment of candidates for the members of the Audit Committee who are executive directors
• Appoint ment of candidates for the members of the Audit Committee who are non-executive directors
• Approva l of the aggregate remuneration limit for directors