As the Board is the highest permanent decision-making body of Dongbu Corporation, it is performing a role in deciding items defined in acts or regulations, terms of reference of shareholder meetings, and important matters relevant to basic guidelines of company management and work processes. We recognize that to satisfy employees’ happiness and stakeholders’ contentment at the same time is to practice and complete sustainable ESG management. To consider this in decision making, we will continuously work hard in improving governance.
Directors organizing the committee meet all the duties of loyalty by directors and requirements for outside directors necessary in relevant acts such as Article 382-3 (Duty of Loyalty by Directors) and Article 542-8 (Appointment of Outside Directors), Paragraph 2 of Commercial Act. In relation to the selection of committee members, regardless of gender, Dongbu Corporation appoints directors who have abundant relevant knowledge and work experience of businesses operated by our company and who are unlikely to violate company values and shareholder’s rights and interests after a thorough review process is conducted. Moreover, in the case that directors act in bad faith or are grossly negligent with regard to the business activities of the company, we are also insured through public liability insurance against damages or the actions of a third party.