New Risk • Apr 03
New major risk - Revenue and earnings growth Earnings have declined by 9.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 9.6% per year over the past 5 years. Declared Dividend • Mar 12
Dividend increased to ₩500 Dividend of ₩500 is 67% higher than last year. Ex-date: 2nd April 2026 Payment date: 1st January 1970 Dividend yield will be 2.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Announcement • Mar 12
The Born Korea, Annual General Meeting, Mar 31, 2026 The Born Korea, Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 52-12, gangnam-daero 79-gil, seocho-gu, seoul South Korea 
