LG Uplus said on Monday it held its 30th annual general meeting of shareholders at its Yongsan headquarters in Seoul. Shareholders approved six agenda items as proposed, including financial statements, amendments to the articles of incorporation, appointment of directors, appointment of an outside director who will serve as an audit committee member, appointment of audit committee members and approval of the cap on directors' compensation.

It first approved the 2025 financial statements, including operating revenue of 15.45 trillion won, operating profit of 892.1 billion won and net profit of 509.2 billion won. For the year-end dividend, it decided to pay a cash dividend of 410 won per common share, up 10 won, setting the annual dividend at 660 won. The cap on directors' compensation was finalized at 5 billion won, unchanged from the previous year.

LG Uplus added to its articles of incorporation, as a business purpose, "operating businesses and all related services and construction work related to data centre design, operation and building" to fully scale up its data centre DBO (design, build and operation) business.

Some articles of incorporation were also amended following a revision to the Commercial Act. As it can no longer exclude cumulative voting in the director appointment process, it deleted language stating that "cumulative voting shall not apply" from the articles. It also changed the title of outside director to "independent director." The articles also included raising the number of audit committee members elected separately from 1 to 2.

LG Uplus appointed Myung-hee Yeo (여명희), chief financial officer (CFO) and chief risk officer (CRO), as an inside director for the second time following 2023. Yeo, a vice president, has served as CFO and CRO since being appointed to the roles in 2023 and was reappointed as an inside director in recognition of her capabilities.

LG Uplus CEO Beom-sik Hong (홍범식) said in opening remarks at the meeting, "We will make this a year in which we build up successful experiences with customers based on even stronger trust (TRUST), and expand that success." He added, "We will make the fundamentals of the telecommunications industry — quality, security and safety — our top management principles and reinforce them further, and innovate customer experience through our brand philosophy 'Simply. U+'." He stressed that the company will expand its high value-added B2B AX business, innovate its profit structure and faithfully implement its "corporate value enhancement plan" to raise shareholder value.