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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
    2024.03.21
    Professor of AI Application 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

  • 1st 23 Jan 2024 Attendance of outside director : 4/4
    Approval of the 74th financial statement
    Approved
    Approval of the 74th business report
    Approved
    Approval of internal audit results for 2023 and plans for 2024
    Approved
    Approval of general policy for non-audit services by external auditors
    Approved
    Report on prior consultation of non-audit services by external auditors
    -
    Report on settlement of accounts for 2023
    -
    Report on evaluation for Internal control over financial reporting for 2023
    -
  • 2nd 21 Feb 2024 Attendance of outside director : 4/4
    Report and evaluation for operational status of Internal monitoring systems in 2023
    -
    Report on audit fulfillment for the 74th financial statement and communication
    -
  • 3rd 19 Apr 2024 Attendance of outside director : 4/4
    Report on settlement of accounts for 1Q 2024
    -
    Report on result of compliance about appointment of external auditors for 2023
    -
    Audit committee communication for 1Q 2024
    -