Board of
Directors
Governance
01
Composition of the Board of Directors
| Appointment of Directors and Term of office of Directors |
The Board of Directors of the Company shall consist of at least 5 directors. Directors shall be appointed by a majority vote of shareholders who are either present or represented by proxy at a general meeting where over two-thirds of the issued shares are in attendance. An individual nominated during this period shall not face disqualification based on their status as an employee, director, or shareholder of another company. The term of office for a director shall be three years upon assuming the position, and can be extended. However, such an extension can only be granted until the closure of the regular shareholders' meeting concerning the final settlement period within the term. |
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| Appointment of Chairperson | The Chairperson will preside over all general shareholders' meetings, and the President assuming this role in the Chairperson's absence. |
| Board Expertise and diversity | The Company upholds a non-discriminatory policy regarding race, gender, nationality, or expertise when selecting individuals to serve on the board of directors, and values diversity and inclusivity to foster the growth and advancement of the company. Outside directors are selected based on their extensive expertise and experience, along with meeting the qualifications outlined in the Commercial Act and other relevant legislation. |
Operations of the Board of Directors
| Board Types | Board of Directors: The Board of Directors may convene at the discretion of the Chairperson, whenever deemed necessary and suitable. (In addition, the Board of Directors will convene upon written request by two or more directors.) |
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| Board of Directors Convocation | Directors and auditors will receive a written notification in both Korean and English, detailing the purpose, venue, and date of the Board of Directors' meeting at least 21 days before the board meeting. |
| Board Resolution |
A resolution of the Board of Directors shall be adopted in the presence of a majority of directors in office by the affirmative votes of a majority of directors present at the meeting. However, the Board of Directors may proceed by means of a remote communications system that enables all directors' simultaneous transmission and receipt of sounds, subject to compliance with applicable laws and regulations. A resolution or any other action by the Board of Directors that fails to garner a majority of affirmative votes shall not be deemed effective. Neither the chairperson nor any director possesses approval rights in the Board of Directors. |