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:
The Company has the Compensation Committee which consists of Executive Directors and major Senior Vice Presidents though it is not a committee under the Board of Directors. Also, although the Company does not have a separate corporate governance Committee, the Board works to maintain a high level of corporate transparencies through the Independent Director Recommendation Committee and the Related Party Transactions 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.
The CSR Committee is a committee under the Board of Directors that supervises and supports the company's Corporate Social Responsibility and Share Growth management activities.
The CSR Committee is committed to building relationships with various stakeholders through open dialogues and collaboration.
The CSR Committee shall be comprise of five independent directors 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. The committee members shall be appointed by resolution at the Board meeting.
Current members of the CSR Committee are all Independent Directors, and the head of the committee is Independent Director Byeong-Gi Lee.
|CSR Committee Members|
(Head of the committee)
|In-Ho Lee||Han-joong Kim||Kwang-Soo Song||Eun-Mee Kim|
The CSR Committee shall hold regular meetings at least once a quarter. In addition, the committee shall call meetings to discuss CSR research sub-committee activities.
The CSR Committee is authorized to review and submit recommendations on the company's CSR activities and progress. The committee is responsible for organizing and managing sub-committees to conduct researches with various opinion leaders on CSR related topics and the company's CSR management.
|30 May, 2013|
|Establishment of research committee for the advancement of corporate ecosystem and appointment of research members||Approved||5/5 present|
|19 March, 2013|
|Appointment of the head of CSR Committee||Approved||5/5 present|
|Report on '13 corporate social contribution strategies||Approved|