Additionally proposes amendments to SK Corp's Articles of Incorporation, SEOUL - 29 January 2004
Sovereign Asset Management ("Sovereign") today announced its support of five new independent, non-executive board nominees who will seek election to the board of directors of SK Corporation ("SK Corp") at the forthcoming Annual General Meeting, to be held in March 2004. The candidates' names have been officially submitted to SK Corp and are as follows:
Please see Notes to Editors for further background on each nominee.
Sovereign also today proposed a number of amendments to SK Corp's current Articles of Incorporation, designed to further enhance corporate governance at the company.
Additionally, Sovereign launched a comprehensive domestic and international multimedia information campaign aimed at encouraging all SK Corp shareholders to become familiar with the director candidates' backgrounds, the proposed amendments to the Articles of Incorporation, and issues surrounding these actions. Sovereign is encouraging all shareholders to exercise their voting rights at the AGM.
James Fitter, Chief Executive Officer of Sovereign, said: "SK Corp is a potentially great company that deserves a fresh start. It is time to break from the past and revitalise the board of directors to ensure sound stewardship for a healthy future." He added: "These candidates are independent Koreans who demonstrate the highest standards of integrity, transparency, and accountability. Their successful election will be dependent upon receiving the votes of Korean and foreign minority investors alike. We are confident that they will work constructively with the other members of the board to collectively make informed, independent decisions that are in the best interests of the company and are of benefit to all shareholders equally."
Proposed Amendments to the Articles of Incorporation
Information Campaign
Website
Sovereign's information campaign includes a new Korean and English language website (http://www.sov.com/) that provides shareholders with factual, up-to-date information on Sovereign and SK Corp as well as practical information on how to exercise their votes.
Toll-free telephone helpline
A toll-free telephone information helpline, with Korean and English language services, has been set up so SK Corp shareholders can call for assistance with the voting process. For those calling within Korea, the number is: 00798-612-1093 and for those calling outside Korea, the number is: +61-2-9240-7469.
- Notes to Editors -
1. Board Nominees Dr. Dong-sung Cho
EXPERIENCE
| 2003 - present | Visiting Research Professor of Beijing University in China |
| 2001 - present | Commissioner of Korea Trade Commission |
| 2001 - present | Joint Representative of Korea CEO Forum |
| 1978 - present | Professor of Seoul National University ("Corporate Strategy," "Competitive Strategy," "Strategic Planning," "International Business," "International Business Strategy," "General Trading Company," "Design Management," "Case Writing Workshop," "Strategy in Venture Business," and "E-Business Strategy.") |
| 2001 - 2003 | Dean, College of Business Administration, Seoul National University |
| 1999 - 2001 | Dean, The School of International and Regional Studies, Seoul National University |
| 1998 - 2000 | Member of the Committee for Corporate Restructuring |
| 1998 - 2000 | Vice President, Academy of International Business (AIB) |
| 1998 | Winter Visiting Professor of Duke University |
| 1996 | Winter Visiting Professor of Michigan University |
| 1994 | Winter Visiting Professor of the University of Sydney MBA |
| 1994 | Advisor for Foreign Investment Honduras Ministry of Commerce |
| 1993 - 1999 | Advisor of the Ministry of Commerce and Industries |
| 1992 - 2000 | Visiting Research Professor of Helsinki School of Economics and Business Administration, Finland |
| 1992 - 93 | Visiting Research Professor of University of Tokyo, Hitotsubashi |
| 1990 - 92 | Managing Director of Seoul National University Development Foundation |
| 1988 - 90 | Associate Dean of University Planning and Coordination, Seoul National University |
| 1985 | Visiting Professor of INSEAD, Fontainebleau, France |
| 1983 - 84 | Instructor of MBA at Harvard University, Massachusetts |
| 1976 - 78 | Adjunct Professor of University of Pittsburgh, Pennsylvania |
| 1976 - 78 | Senior Planner at the Corporate Planning Group, Gulf Oil Corporation, Pittsburgh, Pennsylvania |
EDUCATION
| 1973-76 | Ph.D. Harvard Business School, Boston, Massachusetts |
| 1973 | INSEAD, Fontainebleau, France |
| 1972-73 | M.A., Business Administration, Bowling Green State University, Bowling Green, Ohio |
| 1967-71 | B.A., Business Administration, Seoul National University, Seoul, Korea |
RESEARCH
Chaebol: Korea's Major Conglomerates, with Sang-Hoon Nam and Rosalie Tung, Oxford University Press, London, forthcoming in 2004. (English)
Design Revolution, Design Management, Design Net, Seoul, 2003. (Korean)
CEO Hiddink Through CEOs' Lense, et. al., Baeknyungul Sarang, Seoul, 2002. (Korean)
Manager Hiddink Through Management Professors' Lense, et. al., Baeknyungul Sarang, Seoul, 2002. (Korean)
E-Business, E-Strategy, The Korea Economic Daily, Seoul, 2002. (Korean)
E-Business Strategy, Electronic Commerce Research Center, Seoul National University, Seoul, 2001. (Korean)
Study of Chairman Chey Jong-Hyun of SK Group, with Kun-Hee Lee, et. al., Sooseo-won, Seoul, 2001. (Korean)
IPS National Competitiveness Report, IPS, Seoul, 2001. (English)
From Adam Smith to Michael Porter: Evolution of Competitiveness Theory, World Scientific, Singapore, 2000. (English)
Tiger Technology: The Creation of a Semiconductor Industry in East Asia, with John Mathews, Cambridge University Press, Cambridge, 2000. (English)
International Business for the Twenty-First Century, Kyungmoon-sa, Seoul, 1997, 2000. (Korean)
Principles of Management for the 21st Century, Seoul School of Economics and Business Administration, Seoul, 2000. (Korean)
Three Revolutions Necessary for Opening the Era of Electronic Commerce, Electronic Commerce Research Center, Seoul National University, Seoul, 2000. (Korean)
SUPEX of SK Group: Management Theory of Jong-Hyun Chey, Seoul School of Economics and Business Administration, Seoul, 1999. (Korean)
Strategic Management for the Twenty-First Century, IBS Press, Seoul, 1997, 1999. (Korean)
Interesting Stories about Business V, Seoul School of Economics and Business Administration, Seoul, 1999. (Korean)
"Ways to make b Companies and the b Nation", The Korea Economics Research Center, The Korea Chamber of Commerce & Industry, Seoul, 1999.
Korean Economy: No Way for Retreat, The Korea Economic Daily, Seoul, 1999. (Korean)
Imperatives of Restructuring, Seoul School of Economics and Business Administration, Seoul, 1998. (Korean)
The Environment Creating Mechanism of the Corporation, IBS Press, Seoul, 1997. (Korean)
Strategy Evaluation System, with Cheol-Ho Shin and Hyung-Ki Cho, IBS Press, Seoul, 1996. (Korean)
Design, Design Industry, and Design Policy, with Dong-Hyun Lee, Design House, Seoul, 1996. (Korean)
Comparative Study of Japanese and Korean Industrial Policies: 1945-93, Vol. I, II & III, IBS Press, Seoul, 1994, 1996, 1997. (Korean)
The Integrated Model of 14 Techniques in Innovative Management, with Cheol-Ho Shin, IBS Press, Seoul, 1996. (Korean)
Management Paradigm for the Twenty-First Century, Mineum-sa, Seoul, 1995. (Korean)
The Myth of Korean Semiconductor Industry: The Success Story of Korean Semiconductor Manufacturers in Competition with the U.S. and Japanese Firms, Biryong-so, Seoul, 1995. (Korean)
Long-Range Strategic Planning, The Korea Economic Daily, Seoul, 1993. (Korean)
The Age of Strategic Management, Mineum-sa, Seoul, 1993. (Korean)
Interesting Stories about Business: The Firms with Successful Implementation of Internationalization Strategies, UCG Press, Seoul, 1993. (Korean)
Theory of International Business, Kyungmoon-sa, Seoul, 1985, 1989, 1993. (Korean)
Business Policy and Long-Term Strategic Planning, Youngji- Moonwha-sa, Seoul, 1980, 1983, 1987, 1993. (Korean)
Korea's Competitiveness: A Shortcut to an Advanced Nation, Maekyung-Shinseo, Seoul, 1992. (Korean)
Interesting Stories about Business: Firms to Enrich the Society, UCG Press, Seoul, 1992. (Korean)
Business Strategy for Practitioners, Beebong-Choolpan-sa, Seoul, 1992. (Korean)
Winning from Competition , with Gwang-Hyeon Lee, Kyobo- Munko, Seoul, 1992. (Korean)
Interesting Stories about Business II: Businessmen with Philosophy, UCG Press, Seoul, 1991. (Korean)
Interesting Stories about Business, UCG Press, Seoul, 1990. (Korean)
Chaebol: Korean Business Giant, Maekyung-Shinseo, 1990.
Special Lecture on the General Trading Company, UCG Press, Seoul, 1989. (Korean)
Cases on International Business by Korean Multinational, with Byung-Soon Kim, Kyungmoon-sa, Seoul, 1984, 1987. (Korean)
The General Trading Company: Concept and Strategy, Lexington Books, Mass, 1987. (English)
Korea's Oil Industry: Structure and Strategy, Bakyoung-sa, Seoul, 1987. (Korean)
Korea's International Business: System and Performance, Kyungmoon-sa, Seoul, 1986. (Korean)
Korea's General Trading Company, Bupmoon-sa, Seoul, 1983, 1986. (Korean)
Energy Policy and Korean Economy, Bakyoung-sa , Seoul, 1983. (Korean)
International Resources Management - With a Main Focus on Oil Industry, Bakyoung-sa, Seoul, 1981. (Korean)
Entry Strategy of a Multinational Corporation into Chinese Market: Economics of Korea's LocationKorean International Economic Institute Seoul, 1980. (Korean)
DISTINCTIONS
"The Order of Industrial Merit", awarded by President Kim Dae-jung of Korea, January 2000.
"Award for Free Economics Publication Culture" awarded to The Age of Strategic Management, by The Federation of Korean Industries, January 1994.
"The Economist", awarded by Maeil Economic Daily, May 1991, for the article "Reformation of Korea's Big Business Groups".
"The Grand Prize on Business Culture", awarded by New Industry Management Academy, April, 1990.
"The Best Book of the Year in Economics/Business", awarded to International Resource Management - with a Main Focus on Oil, by Korea Management Association, May 1981.
Dr. Seung-soo Han
EXPERIENCE
| 2001.09 - 2002.09 | President, 56th Session of the United Nations General Assembly |
| 2001.03 - 2002.02 | Minister of Foreign Affairs and Trade |
| 2000.05 - present | Member of the 16th National Assembly |
| 1996.05 - 2000.05 | Member of the 15th National Assembly |
| 1996.08 - 1997.03 | Deputy Prime Minister and Minister of Finance and Economy |
| 1994.12 - 1995.12 | Chief of Staff, Office of the President of the Republic of Korea |
| 1993.04 - 1994.12 | Korean Ambassador to the United States |
| 1988.04 - 1992.05 | Member of the 13th National Assembly |
| 1988.12 - 1990.03 | Minister of Trade and Industry |
| 1975 - 1988 | Professor of Economics, Seoul National University, Korea |
OTHER EXPERIENCE
| 1998 | President, Korea- Britain Society |
| 1997 | President, Korea - U.K. Forum for Future |
| 1997.10 - present | Honorary Professor, University of York, York, England |
| 1997.07 - present | Distinguished Visiting Professor, Graduate School of International Studies, Yonsei University, Seoul, Korea |
| 1987 - 1988 | Chairman, Korea Trade Commission |
| 1986.09 - 1987.02 | Visiting Professor of Department of International Relations, Tokyo University, Japan |
| 1985 - 1986 | Senior Fulbright Scholar, Department of Economics, Harvard University, Cambridge, Massachusetts, USA. |
| 1980s | Member, Commissions on Bank Reform and Tax Reform, for the Ministry of Finance Advisor to: Korea Chamber of Commerce and Industry; Korea Export Import Bank; Korea International Trade Association; The Bank of Korea; Industrial Bank of Korea; Federation of Korean Industries |
| 1983 - 1984 | President, Korea International Economic Association |
| 1971, 1983 - 1986 | Economic Consultant, The World Bank Member of Advisory Board, The Korea Society, Korea Economic Institute of America Member, Royal Economic Society, Korean Economic Association, American Economic Association, International Institute of Public Finance, Seoul Forum for International Affairs, Korean Council on foreign Affairs. |
| 1974 - 1976 | Financial Adviser to Jordanian Government (secondment from the World Bank) |
| 1971 - 72, 83 - 84 | UNESCAP |
EDUCATION
| 1997 | Hon. D. Univ., University of York, York, England |
| 1963 - 1968 | Ph.D. (Economics) University of York, York, England |
| 1961 - 1963 | MPA, Seoul National University, Korea |
| 1955 - 1960 | BA in Politics at Yonsei University, Korea |
PUBLISHED WORKS
The New Theory of Economic Policy (Doosan-dongah Publishing Co, Seoul, 1996)
The Theory of Economic Policy (Dongah Publishing Co., Seoul 1994)
The Health of Nations (Seoul Computer Press, Seoul, 1985)
Social Welfare in Britain (Seoul National University Press, Seoul, 1980)
The Economics of the Middle East (Bakyongsa, Seoul, 1976)
Export - led Models of Growth (Seoul University Press, Seoul, 1973)
The Growth and Function of the European Budget (Yusong Publishing Co., Seoul, 1973) in English
Britain and the Common Market (Cambridge University Press, Cambridge, 1971, co-authored)
Taxes in Britain and the EEC (PPE and Chatham House, London, 1968, co-authored)
DISTINCTIONS
D. Pol. (Hon) (Yonsei University, 2001)
LLD. (Hon) (Kangwon National University, 1998)
D. Univ. (Hon) (University of York, 1997)
Columbia Law School/ Parker School Award for Distinguished International Service (1997)
The 6th European Communities Prize (Economics Section, 1997): awarded on the doctoral thesis as the best written on the European integration during 1976 - 1970
Order of Public Service Merit (First class, Blue Stripes)
Order of Industrial Merit (Bronze)
Order of National Security Merit (Cheonsu)
Jose Matias Delgado (El Salvador)
Orden Mexicana del Aguila Azteca, Grado Collar (Mexico)
Mr. Jin-man Kim
EXPERIENCE
| 2002.03 - present | CEO of Investus Global |
| 2001.02 - present | Chairman of the CRV (Corporate Restructuring Vehicle) Committee |
| 2000.05 - 2001.03 | Vice President of the Korea Chamber of Commerce & Industry |
| 2000.02 - present | Member, Management Committee of International Financial Association |
| 1999.01 - 2001.03 | The first President of Hanvit Bank (Jan. 4 of 1999, Hanil Bank merged with Commercial Bank of Korea to form Hanvit Bank, which was subsequently renamed to Woori Bank.) |
| 1997 - present | Member of the Association of Businessmen for the Good Economy |
| 1997.06 - 1998.12 | The fifth President of KorAm Bank |
| 1994 | Winter Visiting Professor of the University of Sydney MBA |
| 1988 | Director of KorAm Bank |
| 1982 | Member, Executive Committee of KorAm Bank (Head, Liability Management. Head, Retail Banking Group) |
| 1975 | Korea Merchant Banking Corp. (General manager; Director) Sales Part II. |
| 1966 - 1975 | Deputy manager of the International Department at Commercial Bank of Korea |
EDUCATION
| 1964 | Received Bachelor of Law at Seoul National University |
Dr. Joon-Gi Kim
EXPERIENCE
| 2003.9 - Present | Corporate Ownership and Control, Editorial Board |
| 2003 - Present | Hills Governance Center, Executive Director |
| 2001.10 - 2003.12 | Chair, Executive Board, Center for Good Corporate Governance |
| 2001.7 - Present | KOSDAQ, Dispute Mediation Committee, Member |
| 1998 - Present | Yonsei University, Graduate School of International Studies, Professor of Law |
| 1995 - 1998 | Hongik University, Business Administration Department, Professor of Law |
EDUCATION
| 1989 - 1992 | J.D., Georgetown University Law Center, Washington, D.C. |
| 1988 - 1991 | MA, Yonsei University, Graduate School of International Studies |
| 1983 - 1988 | BA, Columbia College |
BAR MEMBERSHIP
| 1994 - Present | Washington, D.C. Bar Association |
| 1993 - Present | New York State Bar Association |
Mr. Dae-woo Nam
EXPERIENCE
| 2002 - present | Outside Director, Korea Resources Corporation |
| 2000 - 2003 | Standing Auditor, Pulmuone Co. Ltd. Seoul, Korea |
| 1999 - 2002 | Outside Director, Korea Minting & Security Printing Corporation |
| 1997 - 1998 | Outside Director, Korea Gas Corporation |
| 1997 - 1998 | Member, Financial Reform Committee of the Office of the President of Korea |
| 1994 - 1997 | Sinbo Venture Capital Corp., Chief Executive Office |
| 1976 -1994 | Executive Vice President, Korea Credit Guarantee Fund |
| 1972 -1976 | Ministry of Finance, Department of National Treasury and Investment |
| 1967-1972 | Ministry of Commerce & Industry, Assistant Manager of Planning & Budget Office |
EDUCATION
| 1966 | MA, Public Administration at Seoul National University |
| 1964 | BS, Seoul National University |
- ENDS -
