Business data platform company Cucon held its 20th annual general meeting of shareholders and approved all major agenda items as proposed to enhance shareholder value and secure a basis for future growth, it said on March 26.

Seven items were presented and all were passed, including approval of financial statements, amendments to the articles of incorporation, appointments of directors and audit committee members, approval of the ceiling for directors’ remuneration and the granting of stock options.

Cucon moved to expand its business purposes and broaden data-based new business areas. It added to its articles of incorporation businesses including issuance and management of direct debit electronic payment instruments, personal information management and analysis, and medical information management and analysis.

It also revised provisions on proxy voting and director-related clauses to strengthen the protection of shareholder rights and the basis for responsible management.

The company continued its shareholder return policy. Cucon confirmed a 300 won per share cash dividend, maintaining its trend of expanding dividends for a third straight year. The total dividend payout is about 3 billion won, and dividends are set to be paid within 1 month from the date of the shareholders’ meeting resolution.

Going forward, Cucon plans to maintain a policy of expanding dividends linked to operating profit growth. It also plans to secure dividend resources through a reduction of capital reserves while improving its financial structure at the same time.

It is also moving to strengthen internal controls and corporate governance. The company plans to upgrade its internal control system centered on the Transparency Management Committee and the Compliance Committee and to enhance management transparency through external audits.

Cucon CEO Jong-hyun Kim (김종현) said, "This will be a turning point to pursue maximizing shareholder value and global growth at the same time." He added, "We will continue to strengthen efforts to enhance corporate value and shareholder return policies."