The 41st Ordinary Shareholders’ Meeting held

Three motions including director appointment passed as drafted

Hyundai Mipo Dockyard (HMD) held the 41st ordinary shareholders’ meeting in the presence of 200 participants at the auditorium of Hanwoori Hall on March 27.

In the meeting, all of the three motions presented were passed as drafted. The motions put forward were, namely, the 41st term financial statement, election of directors and the ceiling on director remuneration.

As a result, Mr. Kang Hwan-goo, president of HMD, was reappointed as standing director, and Mr. Cho Young-cheul, executive vice president of Hyundai Heavy Industries, was newly elected to non-standing director.

President Kang said “2014 was one of the most challenging years we had ever faced given the adverse market conditions for shipbuilding. However, I believe our steadfast dedication to innovative ships, such as ethylene gas carriers, will pay off and hopefully reward our shareholders going forward.”

HMD announced its sales target at 3.5 trillion Korean won and order target at $3 billion for 2015 during the meeting.