S&K Polytech to Change Company Name and Transfer 20 Billion Won to Retained Earnings

S&K Polytech will hold an extraordinary general meeting of shareholders on September 28 to change its company name and transfer 20 billion won from retained earnings.

According to S&K Polytech on September 14, the company plans to change its name to 'S&K Global' and add the manufacturing of electric vehicle electronic parts to its business objectives. This is intended to reflect changes in the business structure following the merger with electronic component specialist Sunjin Engineering.

The agenda will also include a proposal to reduce the capital reserve by 20 billion won and transfer it to retained earnings in order to secure resources for shareholder returns, such as share buybacks and cash dividends. The company plans to implement a proactive shareholder return policy starting in 2027, once distributable profits are secured.

The meeting will also include the appointment of three new internal directors to strengthen responsible management and business expertise. The nominees are Executive Director Kang Gahee, Executive Director Hwang Seungjae, and Managing Director Kim Taehun.

A company representative stated, "With the merger with Sunjin Engineering as an opportunity, we aim to maximize synergy between our existing electronic device components business and the electric component business, and secure new growth engines. Based on a system of responsible management, we will continue to enhance our business competitiveness and corporate value."

This content was produced with the assistance of AI translation services.