Results of General Shareholders’ Meeting for the Fiscal year 2002(Mar.21, 2003)
2003-03-24On the 21st of March 2003, 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, 2002 | |
|---|---|
| Total assets | 171,498,841 |
| Total liabilities | 161,449,445 |
| Paid-in capital | 1,641,293 |
| Total shareholder’s equity | 10,049,396 |
| For the year ended December 31, 2002 | |
| Operating revenue | 15,584,501 |
| Ordinary income | 1,893,618 |
| Net income | 1,310,291 |
| Earnings per share(in Won) | 4,123 |
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. Cash Dividend
(Unit: Won unless indicated as otherwise)
| Dividend per stock | Dividend rate | Total payout | Payout ratio |
|---|---|---|---|
| 1,000 | 20% of par value(2.38% of closing market price as at December 31, 2002) | 325,232,596,000 | 24.82% |
3. Appointment of Directors
Twelve non executive directors and two executive directors were nominated and appointed to Kookmin Bank’s Board of Directors. Of 16 board members, 12 (75%) are non executives and 4 are executives. The tenure of all the executive directors is three years and all non executive directors is one year.
List of Executive Directors
| Name | Current Position |
Career | Education | Nominated for members of Audit Committee |
|---|---|---|---|---|
| Sungnam Lee (11/11/1947) |
Assistant Governor, Financial Supervisory Service |
- Head of Examination Planning & Coordination Department, Financial Supervisory Service - Management Adviser, Bajae Travel Agency - General Manager,Citibank |
- B.A. in English Literature, Ewha Womans University - Kyungki Women’s High School |
Yes |
| Donald H. MacKenzie (12/20/1948) |
Executive Vice President & Head of Risk Management Division, Kookmin Bank |
- Country Manager, ING Bank Japan; Managing Director, ING Barings - Vice President, Goldman Sachs - Partner, KPMG Peat Marwick |
- Canadian Institute of Chartered Accountants (CICA) - Accounting, finance, business administration, Simon Fraser University - B.A. in Economics, British Columbia University |
List of Non-Executive Directors
| Name | Current Position |
Career | Education | Nominated for members of Audit Committee |
|---|---|---|---|---|
| Moonsoul Chung (03/07/1938) |
Advisor, Mirae Corporation |
- President, Lycos Korea - CEO, Mirae Corporation |
- B.A. in Asian Philosophy, Won Kwang University |
|
| Sunjin Kim (06/08/1942) |
President, Yuhan Corporation |
- Member of Advisory on Stocks Practice of Korea Listed Companies Association - CEO, Janssen Korea - Vice President, Yuhan Corporation |
- Completed EC CEO Course, Seoul National University - M.B.A., Korea University - B.A. in Business Administration, Korea University |
Yes |
| Dongsoo Chung (09/24/1945) |
- Deputy Minister, Ministry of Environment - Assistant Minister, Planning & Management Office, Ministry of Planning & Budget |
- M.A. in Public Administration, University of Wisconsin at Madison - B.A. in Business Administration, Seoul National University |
Yes | |
| Richard Elliott Lint (01/04/1946) |
Principal, Mercer Human Resource Consulting |
- Deputy Chairman, Head of Oil, Gas & Pipeline Group, Scotia Capital - CEO & Chairman, Citibank Canada - Principal, McKinsey & Co. Toronto |
- M.B.A., University of Toronto - B.A.SC (Industrial Engineering), University of Toronto |
|
| Kyunghee Yoon (01/05/1947) |
Country Manager & Managing Director, ING Korea |
- Managing Director & Branch Manager, ING Securities, Ltd., Seoul Branch - Director & Chief Representative, Baring Brother Ltd., Seoul Representative Office |
- Executive program for "Leading & Managing Change", Stanford Business School - B.A in Law, Seoul National University |
Yes |
| Seoungwoo Nam (05/13/1952) |
CEO, Pulmuone Co., Ltd. |
- CEO, Puchon Cartoon Network - President, Korea Health food & Special Nutritive Food Association - CEO, ECMD Co., Ltd. |
- Ph.D. in Food & Biotechnology, Yonsei University - M.S. in Food Science & Technology, Yonsei University - B.A. in Law, Seoul National University |
Yes |
| Sukyoung Cha (06/09/1953) |
President & CEO, Haitai Confectionery & Foods Co., Ltd. |
- President & CEO, Procter & Gamble Korea - President & CEO, Ssangyong Paper Company - CFO, P&G Asia Headquarters, Hong Kong |
- Attended School of Law, Indiana University - M.B.A., Johnson Graduate School of Management, Cornell University - B.A. School of Management, State University of New York |
|
| Bernard S. Black (11/13/1953) |
Professor of Law, Stanford Law School |
- Professor of Law, Columbia Law School - Senior Policy Advisor, Harvard Institute for International Development |
- J.D., Stanford Law School - M.A. in Physics, UC Berkeley - B.A. in Physics, Princeton University |
|
| Kihong Kim (01/10/1957) |
Professor of Business Administration, Chungbuk National University |
- Research Fellow, Korea Institute of Fiscal Policy - Research Director, Korea Insurance Development Institute - Assistant Governor, Financial Supervisory Service |
- Ph.D. in Business Administration, University of Georgia - M.B.A., University of Missouri - B.A in Business & Economics, Barat College |
|
| Eunjoo Park (06/03/1957) |
CEO & Chief Editor, Gimm-Young Publishers, Inc. |
- Member of Policy Advisory Committee, Ministry of Culture and Tourism - Member of Advisory Committee, People’s Solidarity for Participatory Democracy - Member, Korean Publishers’ Association |
- M.A. in Graphic Communications Management & Technology, New York University - B.A. in Mathematics, Ewha Womans University |
|
| Cheolsoo Ahn (02/26/1962) |
President & CEO, Ahnlab , Inc. |
- Chairman, Software Venture Association - Vice Chairman, Korea Venture Business Association - Counselor, Policy Development, Division, Korea IT Industry Promotion Agency - Head of Pre-Medical Course, Dankook University |
- Completed Venture Business Course, Stanford University - M.S. in Management of Technology, Penn Engineering & Wharton School, University of Pennsylvania - Ph.D. in College of Medicine, Seoul National University - M.D. in College of Medicine, Seoul National University |
|
| Kyungbae Suh (01/14/1963) |
President & CEO, AmorePacific Corporation |
- President of Corporate Strategy, Pacific Corporation (Presently AmorePacific) - President & CEO, Pacific Pharmaceutical Company |
- M.B.A., Cornell University - B.A. in Business Administration, Yonsei University |
4. Resolutions
All the six agenda items listed below were approved and ratified as originally proposed.
- Agendum 1. Approval of Non Consolidated Financial Statements (Balance Sheet; Income Statement;
and Statement of Appropriation of Retained Earnings) for The Fiscal Year 2002
- Agendum 2. Amendments to the Articles of Incorporation
- Agendum 3. Appointment of Directors
- Agendum 4. Appointment to The Audit Committee Member Candidates That Are Not Non Executive Directors
- Agendum 5. Appointment to The Audit Committee Member Candidates That Are Non Executive Directors
- Agendum 6. Approval of Grant of Stock Option