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Committee

The Audit Committee supervises the legality of performance of directors and management to enhance enterprise value. The Committee is operated independently from management and certain shareholders.

Organization

  • The Audit Committee must be comprised of three or more directors and two-thirds or more from outside directors, and include one or more accounting or financial expert.
  • The company's Audit Committee is currently comprised of four outside directors, (chair as outside director) and includes one accounting or financial expert.
  • Chung Moon-Ki Chair
    Date of Appointment
    2022.03.24
    Professor of Business at Sungkyunkwan University
    Accounting/Financial expertise
  • Kim Jae-Jun Member
    Date of Appointment
    2023.03.23
    Professor of Architectural Engineering at Hanyang University
  • Hong Dae-Sik Member
    Date of Appointment
    2023.03.23
    Professor of Law School at Sogang University
  • Cho Hye-Kyung Member
    Date of Appointment
    2021.03.25
    Professor of IT Convergence Engineering School at Hansung University

Appointment and term of members

  • The Audit Committee members are appointed by resolution at the annual general meeting of shareholders, and shareholders, who hold more than 3% of total number of shares, cannot exercise voting rights in respect of such excess shares beyond the limit.
  • The term of an Audit Committee member is the same as that of the director, and can be extended by resolution at the AGM.

Operation

  • Regular Audit Committee meetings are held at least once a quarter, and special meetings can be held as often as needed.
  • The Audit Committee can ask an involved employee to attend the meeting, and can request for an expert consultation at the expense of the company.
  • The Committee checks whether the company follows the standard of Law through the Compliance Officer, and may utilize the company's audit team for the performance of its duty.
  • The operation details are determined by the Regulations of Audit Committee.

※ Major personal data and career of Compliance Officer

Name
Min Gi-Hong
Date of Birth
1973.12.21
Major Career
  • Feb 1992 B.A. in Law Korea University
  • Feb 2001 Judical Research and Training Institute
  • Feb 2004 Prosecutor, Seoul Northern District Prosecutor's Office
  • Aug 2009 Prosecutor, Ministry of Justice
  • Aug 2018 Chief Prosecutor, Incheon District Prosecutor's Office
  • Jan 2023 ~ Head of Legal Group
Date of Appointment
2023.07.21
Date of Expiration
2026.07.20

Rights

  • Supervise legitimacy of performance of directors and management
  • Examine validity and integrity of financial management
  • Examine and control the internal audit system
  • Assess the appropriateness of financial reporting
  • Examine validity of changes in important accounting standards and accounting estimates
  • Report appointment and dismissal of external auditor to AGM
  • Mediate external auditor and the B of D
  • Evaluate the activities of the external auditor regularly
  • Approve, in advance, external auditor's management consultation for non-audit purposes.
  • Check whether the company has taken corrective actions based on results of internal and external audits
  • Revise the regulations of the Audit Committee

Committee Activities