Though the company is not listed we have improved corporate governance and enhanced transparency and independence of decision-making by making sure that the majority of all directors are outside directors. The BOD is composed of 8 directors (4 outside directors) in total, and supervises and supports the management activities of the CEO through 3 subcommittees. Activities such as the annual pledge of compliance with the code of ethics, the fair trade compliance program, and corporate governance improvement are key parts of our policy to support rational and transparent decision-making in business management. (as of the end of December 2011)
A total of 8 directors as of the end of December 2011 (4 outside directors and 4 inside directors)
Audit committee : Jong-Baek Lee (chairman), Byeong-Il Kim, Yong-Chan Ahn
Outside director nomination committee : Gi-Haeng Cho / Byeong-Il Kim / Seong-Tae Kim
Management Committee : Gi-Haeng Cho (chairman), Gwang-Cheol Choi
3 (3 outside directors), Audits financial statements and submits audit reports / evaluates the internal managerial accounting system, etc.
3 (2 outside directors and 1 inside director), Nominates outside directors for appointment at the general meeting of shareholders
2 (2 internal directors), Makes decision on matters delegated by the BOD