Sub-committees of the BOD
Sub-committees of the BOD
Name of Committee |
Configuration |
Key Roles of the Committee. |
Activities in 2023 |
Audit Commission
(Total 3 members) |
Outside Director Oh Hyung-il (Chairperson)
Outside Director Yang Jae-ho
Outside Director Lee Jae-won
|
1. Supervision of affairs of directors and management
2. Appointment of external auditors
3. Other matters prescribed by articles of association or bylaws in connection with audit and inspection affairs.
|
Three times |
Role and Operating Procedures of Each Committee
Articles of association
Article 37-2 (Committees)
Article 41 (Composition of the Audit Commission)
- The company shall establish an audit committee under Article 37-2 in lieu of the audit.
- The Audit Committee shall be
comprised of at least three directors, and at least two-thirds of the total members shall be outside directors.
- The Audit Commission may, if necessary, seek assistance from experts at the expense of the Company.
- The appointment of members of the Audit Committee shall be a majority of the voting rights of the shareholders present, but shall be at least 1/4 of the total number of shares issued.Provided, That where the right to vote is allowed to be exercised electronically pursuant to Article 368-4, paragraph (1) of the Commercial Act, the appointment of members of the Audit Committee may be resolved as a majority of the voting rights of the shareholders present.
- The term of office of members of the Audit and Inspection Committee shall not exceed three years, and shall be determined by a resolution of the general shareholders' meeting when each director is appointed. Provided, That where the term of office expires before the regular shareholders' meeting on the relevant settlement period after the end of the final settlement period, the term of office shall be extended until the end of the regular shareholders' meeting.
- When appointing or dismissing a member of the Audit Committee who is not an outside director, he/she holds the shares by calculation of the largest shareholder to exercise voting rights, the largest shareholder, or the related person Where the total number of voting shares owned by the largest shareholder or the person delegated voting rights to the relevant person exceeds three-hundredths of the total number of voting shares, the shareholder shall not exercise voting rights over the excess shares.