The fifty-sixth annual stockholders’ meeting was held on March 16 in LOUNGE The HANIL on the eighteenth floor of the headquarters building. During the meeting, the previous year business performance report was offered and approved, and the attendees approved the original agendas on modifying the articles of association, selecting directors, selecting auditing committee members, increasing the cap on director compensation, and increasing the cap on auditor compensation. CEO Kwak Eui Young said during his welcome remarks that the construction market is expected to take a downturn, while the increase in aggregate and bituminous coal prices will put a heavier cost burden on the company. The CEO also predicted the business management environment will further worsen due to increasing regulations such as new local resource facility taxes and nitrogen oxide emissions fee, and said, “under such environments, the company will concentrate its core capabilities to overcome the risks, in addition to ensuring stability in the corporate structure while making a sustained effort to prepare for the future with our partners.”