So some of the investment plans that were devised at the end of last year, we do this every year, but on a quarterly basis, some of that has to be revised. So we need to be conservative, but flexible. And make sure that we keep an eye on our growth.
Young-Ah Han : So a lot more time has transpired than we had planned. We will just take a few more questions.
Operator: The next question will come from Eugene from Eugene Securities.
Eugene Lee : This is Eugene at Eugene Investment Securities. So a lot of questions were already addressed. I know that you have a hydrogen project in Oman. But we can’t find too much information on that. So what is the project? How are you conducting it? And what is the projected margin? Secondly, retirement of treasury stocks. You did that in the previous year. Do you have plans to do more? And there are claims about dumping. Do you have some progress update on that?
Unidentified CompanyRepresentative : Let me talk about dividends first. So we have 10.3% treasury stocks. In September of ’21, we issued transferable bonds — convertible bonds. And so there is a part of that, that belongs to K-SURE, and that’s 3.8%. So if we remove that, that brings us to the actual ownership of our treasury stocks. By retiring our treasury stocks in 2022, we have made this mechanism a part of our shareholder return policy. So whether we have that in the plan this year, we cannot discuss that right now. But we are not interested simply in paying out the dividends, but we will actively look into retiring our treasury stocks as well. That’s all I can share at the moment. Second is about the Oman project. In June of ’23, with the Oman government we entered into an agreement about exclusive land use rights because this green energy generation requires land, appropriate land, suitable land.
And so this is what we came into agreement with the Oman government. This land is the size of half of Seoul for solar energy and other renewable energies as well. Exactly how we’re going to use this land, what we’re going to do here and on what schedule, we are still conducting feasibility study. So we couldn’t tell you very much in detail about capacity or operating margin.
Kim Kyung-Han: I’m with the international trade affairs office. What I want to say about dumping is every country wants to protect their own steel industry. And this is one of the things that they have to fight. To initiate investigation, there has to be an act of dumping. So these are unfair prices that — volumes that come into a market with unfair prices. So we are examining all of the details, but I can’t tell you for sure right now whether we’re preparing a case against dumping. We have all the options open right now and examining the situation.
Young-Ah Han : To all people who participated today, I want to thank you. Because of time constraints, I’m afraid we have to close. It would be lovely to get more questions and comments from you, but I’m afraid we’ll have to conclude. I would like to conclude the 2023 fourth quarter earnings release conference call. Thank you very much.
