Governance

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  • Overview
  • Shareholders
  • Board of Directors
  • Audit Committee

Differences from Best Practices for Governance

Best Practice Recommendations Adoption Remarks
Introduction of corporate governance charter O Approved by the board of directors​
Introduction of the code of ethics for employees O
Introduction of concentrated voting system X For the stabilization of corporate management rights
Formation of the board of directors (majority of outside directors) X Obligations for companies with total assets of KRW 2 trillion or more (Seoyon E-Hwa: three inside directors, three outside directors)
Separation of the CEO and the chairman of the board of directors O
Disclosure of the board of directors’ activity details, attendance rate, and main agenda pros and cons O
Formation of outside director recommendation committee X Obligation for companies with total assets of KRW 2 trillion or more
Formation of the audit committee O All three members are outside directors
Formation of compensation committee X The limit of remuneration for directors is decided at the general meeting of shareholders
Disclosure of committee composition, roles, and activities within the board of directors O
Introduction of regulations on the operation and roles of the board of directors and committees O
Subscription to liability insurance for damage compensation of directors X
Maintaining independence of external auditors O
Disclosure of governance evaluation rating O
Explanation of differences from best practices O
Verification of the integrity of financial reporting by the CEO and the person in charge of finance O

  • Shareholders

    The company shall strive to increase corporate profits through transparent and responsible management and to improve the rights and interests of shareholders and all stakeholders.

    • The company shall guarantee the basic rights of shareholders, who are the owners of the company, and treat all shareholders equally.
    • The company shall provide shareholders with the information they need in a timely, sufficient, and equitable manner.
    • The company shall protect the rights and interests of shareholders from unfair insider transactions and self-transactions by specific shareholders or management.

  • Dividend Details

    1. Dividend Policy

    In accordance with the company's articles of incorporation and related laws, dividends are paid through resolutions of the board of directors and shareholders' meetings.
    Based on a shareholder-friendly dividend policy, the company has been paying dividends equivalent to 20% to 30% of the face value every year since listing in 2014.
    Even when setting dividends in the future, we plan to maintain the direction of our shareholder- friendly dividend policy by comprehensively reviewing the internal and external business environment, the company's investment plan and cash flow, the current year's profit level and surplus status based on the current level of dividends.

    2. Common Stock Dividend Details

    Category 6th Term
    (2019)    		 7th Term
    (2020)    		 8th Term
    (2021)    		 9th Term
    (2022)    		 10th Term
    (2023)
    Dividend Type Cash Dividend Cash Dividend Cash Dividend Cash Dividend Cash Dividend
    Dividend Type 100 KRW 100 KRW 150 KRW 150 KRW 200 KRW
    Total Cash Dividend (KRW M) 2,702 2,702 4,053 4,053 5,405
    Consolidated Net Profit During the Term (KRW M) -42,825 -41,281​ 26,293​ 55,676 157,774
    Cash Dividend Payout Ratio - - 15.4% 7.28% 3.4%
    Common Stock Dividend Rate Par Value 500 KRW 500 KRW 500 KRW 500 KRW 500 KRW
    Par Value Dividend Rate (%) 20%​ 20%​ 30%​ 30% 40%
    / Market Price Dividend Rate (%) 2.04% 1.31%​ 2.14% 1.81% 1.12%
    • * Consolidated Net Profit During the Term: Based on the consolidated financial statements, net profit is attributable to the ownership interest of the parent company.
    • * Market Price Dividend Rate: Dividend per share/Base price (Base price: The arithmetic average of closing prices for the past week from 2 trading days before the closing date of the shareholder list)

Board of Directors

  • The company shall organize the board of directors to make decisions efficiently and supervise the management.
  • The board of directors shall have comprehensive authority and responsibility for corporate management, and comply with laws and articles of incorporation in performing its duties.
  • The company shall provide the necessary information in a timely manner so that outside directors can independently participate in decision making and receive support from employees or external experts.

Board Members

Inside Directors

  • Yongsuk Kang

    CEO (Full-time)

    • Date of Latest Appointment : 2024.03.28
    • Term: 1 Years
    • Date of First Appointment : 2021.03.26
    • Responsibilities : CEO

  • Sooyik Lee

    Vice President (Full-time)

    • Date of Latest Appointment : 2024.03.28
    • Term : 1 Years
    • Date of First Appointment : 2018.03.30
    • Responsibilities : Head of HR & FA

  • Sangcheon Mun

    Vice President (Full-time)

    • Date of Latest Appointment : 2024.03.28
    • Term : 1 Years
    • Date of First Appointment : 2019.03.22
    • Responsibilities : CAE(Chief Audit Executive) & Head of Planning&IT

Outside Director

  • Hyunmoo Kong(Chairman)

    Outside Director (Part-time)

    • Date of Latest Appointment : 2023.03.29
    • Term : 2 Years
    • Date of First Appointment : 2021.03.26
    • Responsibilities : Management Strategy
    • Current) Full-time auditor of SNT Dynamics

  • Sangdo Noh

    Outside Director (Part-time)

    • Date of Latest Appointment : 2023.03.29
    • Term : 2 Years
    • Date of First Appointment : 2021.03.26
    • Responsibilities : Management Strategy
    • Current) Professor of Engineering, Sungkyunkwan University

  • Youngjae Kim

    Outside Director (Part-time)

    • Date of Latest Appointment : 2024.03.28
    • Term : 2 Years
    • Date of First Appointment : 2022.03.25
    • Responsibilities : Management Strategy
    • Current) Partner CPA of LIAN Acounting corporation

Audit Committee

  • The audit committee shall maintain substantial independence from the company, management, and controlling shareholders, and perform functions such as auditing the legitimacy of the business execution of directors and management, evaluating the internal control system, and appointing external auditors.
  • The company shall support independent and fair auditing by external auditors so that the company's accounting information can be trusted by its users, including shareholders.
  • The audit committee shall provide free access to information necessary for auditing and, if necessary, support to receive advice from external experts.

  • Hyunmoo Kong (Chairman)

    Outside Director (Part-time)

    • Date of Latest Appointment : 2023.03.29
    • Term : 2 Years
    • Date of First Appointment : 2021.03.26
    • Current) Full-time auditor of SNT Dynamics

  • Sangdo Noh

    Outside Director (Part-time)

    • Date of Latest Appointment : 2023.03.29
    • Term : 2 Years
    • Date of First Appointment : 2021.03.26
    • Current) Professor of Engineering, Sungkyunkwan University

  • Youngjae Kim

    Outside Director (Part-time)

    • Date of Latest Appointment : 2024.03.28
    • Term : 2 Years
    • Date of First Appointment : 2022.03.25
    • Current) Partner CPA of LIAN Acounting corporation