Management committee

A sharp increase in the number of Independent Directors made it difficult for the Company to convene Board meetings as often as is needed. Therefore, the Company set up committees under the Board in accordance with relevant laws and delegated some of the Board authority to the committees, each of which is filled with Directors who can bring their expertise and experience to the assigned committee.

Board committees, established and operating in accordance with Article 28-2 of Articles of Incorporation, are as set forth:

  • Management Committee
  • Audit Committee
  • Independent Director Recommendation Committee
  • Related Party Transactions Committee
  • Compensation Committee
  • CSR Committee

Each agenda approved by board committees is instantly notified to all Directors, and each Director may call for the convocation of Board meetings within two days from the notice. The Board of Directors may put the resolutions approved by the committees for voting at the Board meeting.

(1) General Description

The Management Committee is a committee under the Board of Directors that deliberates and decides matters either delegated by the Board of Directors, or specified in the Articles of Incorporation or in the Regulation of the Board of Directors with the aim of enhancing professionalism and efficiency in decision-making.

(2) Composition

The Management Committee shall comprise at least two but no more than ten Directors, who are appointed by resolution at the Board meeting, in accordance with relevant laws and regulations.

Currently, the committee consists of four Executive Directors.

Management Committee Members
Oh-Hyun Kwon
(CEO, Head of the committee)
Boo-Keun Yoon Jong-Kyun Shin Sang-Hoon Lee
(3) Operation of the Management Committee

There are two types of Board Meetings:

  • a. Regular Board Meetings : Generally held four times a year (every quarter a year)
  • b. Extraordinary Board Meeting : Held whenever deemed necessary
Convening of Meetings

The Head shall call meetings and notify the members and other participants of the meeting time and place at least 24 hours in advance.

Method of Resolution

The presence of the majority of all Directors shall constitute a quorum for a meeting of the Board of Directors and the resolutions of the Board of Directors shall be adopted by a majority of the votes of the Directors attending the meeting; provided that Board meetings may take place via electronic means, such as conference call, within the scope provided by relevant laws.


While reviewing and deciding agendas at hand, the committee may call in management officers, executives or outside figures, involved in the issues at hand, for their explanation or opinions.

(4) Authority of the Management Committee

In accordance with relevant laws and regulations, the Management Committee shall deliberate and decide the following matters:

  • Development of annual or mid-to-long-term management plans and strategies of the Company
  • Establishment of major business strategies
  • Promotion of cooperation with foreign companies, including strategic partnership
  • Acquisition or sale of domestic/overseas subsidiaries
  • Conclusion of technology inducement agreement, technology transfer, and technological partnership
  • Basic operating principles
  • Determination and change of basic principles concerning salary, bonus and welfare system
  • Issuance of bonds
  • Facility investment, etc.
(5) Activities
18 December, 2013
Agenda Results
Payment of incentive Approved
27 November, 2013
Agenda Results
Stake sales Approved
Purchase of product liability insurance Approved
Donation Approved
Disposal of real estate Approved
Establishment of Shared Growth Collaboration Academy Approved
Extension of real estate contract Approved
Donation Approved
30 October, 2013
Agenda Results
Memory FAB investment Approved
Stake disposal Approved
7 October, 2013
Agenda Results
Stake sales Approved
25 September, 2013
Agenda Results
Investment in establishment of Digital City Central Square Approved
Extension of group insurance for executives Approved
28 August, 2013
Agenda Results
Capital increase for corporate entities Approved
Memory FAB investment Approved
Establishment of overseas sales corporate entity Approved
26 July, 2013
Agenda Results
Stake joint acquisition Approved
Additional investment in training institute Approved
Real estate purchase Approved
Subsidiary spin-off Approved
Integration of subsidiary regional offices Approved
12 June, 2013
Agenda Results
Merger with subsidiary Approved
Real estate purchase Approved
Capital increase for regional office Approved
Closing of shareholder register for interim dividend payment Approved
Donation Approved
22 May, 2013
Agenda Results
Stake investment Approved
15 May, 2013
Agenda Results
Business disposal Approved
8 May, 2013
Agenda Results
Memory FAB investment Approved
Affiliates' asset transfer to SEC Approved
26 April, 2013
Agenda Results
Purchase of liability insurance Approved
Purchase of group insurance Approved
3 April, 2013
Agenda Results
Establishment of overseas R&D center Approved
20 March, 2013
Agenda Results
Memory FAB investment Approved
Disposal of subsidiary Approved
Establishment of overseas sales corporate entity Approved
6 February, 2013
Agenda Results
Memory FAB investment Approved
Establishment of production corporate entity Approved
16 January, 2013
Agenda Results
Establishment of R&D center Approved