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Corporate Governance

List of AGMs held

List of AGMs held
Classification 5th AGM in 2023 4th AGM in 2022 3rd AGM in 2021 2nd AGM in 2020
Date of resolution for convocation Feb. 22, 2023 Feb. 24, 2022 Feb. 25, 2021 Feb. 28, 2020
Date of announcement of convocation Feb. 22, 2023 Feb. 24, 2022 Feb. 25, 2021 Mar. 02, 2020
Date of convocation Thu, Mar. 16, 2023 Thu, Mar. 17, 2022 Thu, Mar. 18, 2021 Fri, Mar. 20, 2020
Period between the announcement date and convocation date 21 days prior to AGM 21 days prior to AGM 21 days prior to AGM 18 days prior to AGM
18 days prior to AGM Headquarters/Seocho-gu, Seoul Headquarters/Seocho-gu, Seoul Headquarters/Seocho-gu, Seoul Headquarters/Seocho-gu, Seoul
Matters pertaining to the AGM
How the shareholders were notified		 Sent the notice of convocation to shareholders with at least a 1% stake; uploaded the notice via the electronic disclosure systems of the Financial Supervisory Service and exchange Sent the notice of convocation to shareholders with at least a 1% stake; uploaded the notice via the electronic disclosure systems of the Financial Supervisory Service and exchange Sent the notice of convocation to shareholders with at least a 1% stake; uploaded the notice via the electronic disclosure systems of the Financial Supervisory Service and exchange Sent the notice of convocation to shareholders with at least a 1% stake; uploaded the notice via the electronic disclosure systems of the Financial Supervisory Service and exchange
Whether non-Korean shareholders can understand the notice of convocation and how they were notified - - - -
Details Board members present 2 out of 5 members 2 out of 5 members 2 out of 5 members 1 out of 5 members
Auditor or Audit Committee members present 1 out of 3 members 1 out of 3 members 1 out of 3 members 1 out of 3 members
Key shareholder remarks
  • 1) Shareholders giving remarks: 4 (4 individual shareholders)
  • 2) Gist of key remarks: Agenda-related remarks
  • 1) Shareholders giving remarks: 3 (3 individual shareholders)
  • 2) Gist of key remarks: Agenda-related remarks
  • 1) Shareholders giving remarks: 2 (2 individual shareholders)
  • 2) Gist of key remarks: Agenda-related remarks
  • 1) Shareholders giving remarks: 3 (3 individual shareholders)
  • 2) Gist of key remarks: Agenda-related remarks

Information about holding distributed meetings,
write-in or electronic voting, and proxy voting

Information about holding distributed meetings, write-in or electronic voting, and proxy voting
Classification 5th AGM 4th AGM 3rd AGM 2nd AGM
Distributed meeting Applicable Applicable Applicable Not applicable
Write-in voting No No No No
Electronic voting No No No No
Recommendation of proxy voting Yes Yes Yes Yes

Shareholders' right to make proposals

  • In accordance with Article 363-2 of the Commercial Act, shareholders of a company may propose certain matters as meeting objectives in writing or electronically six weeks prior to the date of the general meeting of shareholders (in the case of a general meeting of shareholders, the date corresponding to the general meeting of shareholders held the year before). They may also request that an outline of the agenda they have submitted be included in the announcement and notice of the general meeting of shareholders, in addition to the matters to be conducted for the purpose of the meeting.
  • Shareholders holding a certain percentage or more of the company's shares may submit shareholder proposals. * Shareholders with right to make proposals: Shareholders with stocks equal to or greater than 3/100 of the total number of issued shares, excluding non-voting shares.
  • In the case where a shareholder submits a proposal, the Company reports it to the BoD, and the BoD submits the proposal at an AGM, unless the proposal violates the law or the Articles of Incorporation, or Article 12 of the Enforcement Decree of the Commercial Act applies:
    1. Where an agenda with the same content as the one that was rejected at the general meeting of shareholders is presented again within three years from the date the proposal was rejected because it obtained less than 10/100 of the votes at the general meeting of shareholders;
    2. Where the proposal concerns a shareholder's personal grievance
    3. Where the proposal concerns a matter involving minority shareholder rights, where a shareholder must hold more than a certain percentage of the company's stock in order to exercise his or her rights;
    4. Where the proposal concerns a matter involving the termination of an incumbent executive;
    5. Where the proposal concerns a matter that the company is unable to materialize, is based on evidently false ground, or defames a specific individual.
  • Where a shareholder who has submitted a proposal requests it, the shareholder shall be given the opportunity to explain the proposal at the AGM.
  • Other issues shall be governed by the Commercial Act and other applicable laws.

Voting rights exercised at AGMs

Voting rights exercised at the 5th AGM

(Unit: Shares)

Voting rights exercised at the 5th AGM
Agenda Resolution Objectives Approval Total number of issued shares with voting rights (①) 1) # of voting shares exercised among
① (A) 2)		 Shares in favor (B)
(in %) 3)
Number of shares, such as opposition and abstention
(C) (ratio, %) 4)
No. 1 General Approval of the 5th-term financial statements (Jan. 1 - Dec. 31, 2022) Approved 3,177,795 1,865,438 1,845,421 (98.83%)
20,017 (1.07%)
No. 2 Special Modifications to the Articles of Incorporation Approved 3,177,795 1,865,438 1,638,017 (87.81%)
227,421 (12.19%)
No. 3 General Appointment of Ok-ryul Song as an outside director Approved 3,177,795 1,865,438 1,829,716 (98.09%)
35,722 (1.91%)
No. 4 General Appointment of Ok-ryul Song as a member of the Audit Committee Approved 1,914,532 726,256 689,206 (94.90%)
37,050 (5.10%)
No. 5 General Approval of director renumeration limit Approved 3,177,795 1,865,438 1,531,618 (82.11%)
333,635 (17.89%)
  • Number of shares and attendance rate, excluding the majority shareholders and affiliated persons: Agendas 1, 2, 3, and 5 received 25.25% (442,863 shares out of 1,753,894 shares), while agenda 4 received 16.23% (310,775 shares out of 1,914,532 shares)
  • 1) For the agenda for appointment of auditors and Audit Committee members, the number of shares excluding the number of limited voting shares are listed.
  • 2) Number of shares (A) = Number of shares (B) + Number of shares (C)
  • 3) Percentage of shares in favor (%) = (B/A) × 100
  • 4) Percentage of shares in opposition or abstention (%) = (C/A) × 100

  • Voting rights exercised at the 4th AGM

    (Unit: Shares)

    Voting rights exercised at the 4th AGM
    Agenda Resolution Objectives Approval Total number of issued shares with voting rights (①) 1) # of voting shares exercised among
    ① (A) 2)    		 Shares in favor (B)
    (in %) 3)
    Number of shares, such as opposition and abstention
    (C) (ratio, %) 4)
    No. 1 General Approval of the 4th-term financial statements (Jan. 1 - Dec. 31, 2021) Approved 3,177,795 2,004,992 1,961,468 (97.83%)
    43,524 (2.17%)
    No. 2 Special Modifications to the Articles of Incorporation Approved 3,177,795 2,004,992 2,004,992 (100.00%)
    0 (0.00%)
    No. 3 General Appointment of Kun-jong Lee as an inside director Approved 3,177,795 2,004,992 1,960,565 (97.78%)
    44,427 (2.22%)
    No. 4 No. 4-1 General Appointment of Yun-jong Wang as an outside director Approved 1,914,532 741,729 732,972 (98.82%)
    8,757 (1.18%)
    No. 4-2 General Appointment of Chang-jae Lee as an outside director Approved 1,914,532 741,729 629,078 (84.81%)
    112,651 (15.19%)
    No. 5 General Approval of director renumeration limit Approved 3,177,795 2,004,992 1,524,760 (76.05%)
    480,232 (23.95%)
    • Number of shares and attendance rate, excluding the majority shareholders and affiliated persons: Agendas 1, 2, and 5, and No. 3-1 and 3-3 of Agenda 3 received 606,669 shares or 34.11% (606,669 shares out of 1,778,809 shares) No. 3-2 of Agenda 3 and Agenda 4 received 332,422 shares or 22.09% (332,422 shares out of 1,504,562 shares)
    • 1) For the agenda for appointment of auditors and Audit Committee members, the number of shares excluding the number of limited voting shares are listed.
    • 2) Number of shares (A) = Number of shares (B) + Number of shares (C)
    • 3) Percentage of shares in favor (%) = (B/A) x 100
    • 4) Percentage of shares in opposition or abstention (%) = (C/A) x 100

  • Voting rights exercised at the 3rd AGM

    (Unit: Shares)

    Voting rights exercised at the 3rd AGM
    Agenda Resolution Objectives Approval Total number of issued shares with voting rights (①) 1) # of voting shares exercised among
    ① (A) 2)    		 Shares in favor (B)
    (in %) 3)
    Number of shares, such as opposition and abstention
    (C) (ratio, %) 4)
    No. 1 General Approval of the 3rd-term financial statements (Jan. 1 - Dec. 31, 2020) Approved 3,177,795 2,140,511 2,095,923 (97.92%)
    44,588 (2.08%)
    No. 2 Special Modifications to the Articles of Incorporation Approved 3,177,795 2,140,511 2,140,511 (100.00%)
    0 (0.00%)
    No. 3 General Approval of director renumeration limit Approved 3,177,795 2,140,511 1,938,771 (90.58%)
    201,740 (9.42%)
    • Number of shares and attendance rate, excluding the majority shareholders and affiliated persons: 742,949 shares or 41.71% (742,949 shares out of 1,781,184 shares)
    • 1) For the agenda for appointment of auditors and Audit Committee members, the number of shares excluding the number of limited voting shares are listed.
    • 2) Number of shares (A) = Number of shares (B) + Number of shares (C)
    • 3) Percentage of shares in favor (%) = (B/A) x 100
    • 4) Percentage of shares in opposition or abstention (%) = (C/A) x 100

  • Voting rights exercised at the 2nd AGM

    (Unit: Shares)

    Voting rights exercised at the 2nd AGM
    Agenda Resolution Objectives Approval Total number of issued shares with voting rights (①) 1) # of voting shares exercised among
    ① (A) 2)    		 Shares in favor (B)
    (in %) 3)
    Number of shares, such as opposition and abstention
    (C) (ratio, %) 4)
    No. 1 General Approval of the 2nd-term financial statements (Jan. 1 - Dec. 31, 2019) Approved 3,177,795 2,199,639 2,141,703 (97.37%)
    57,936 (2.63%)
    No. 2 No. 2-1 No. 2-1-1 General Appointment of Ho-beom Pyeon as an outside director Approved 3,177,795 2,199,639 2,180,082 (99.11%)
    19,557 (0.89%)
    No. 2-1-2 General Appointment of Yun-jong Wang as an outside director Approved 3,177,795 2,199,639 2,193,165 (99.71%)
    6,474 (0.29%)
    No. 2-1-3 General Appointment of Chang-jae Lee as an outside director Approved 3,177,795 2,199,639 2,196,530 (99.86%)
    3,109 (0.14%)
    No. 2-2 No. 2-2-1 General Appointment of Kun-jong Lee as an inside director Approved 3,177,795 2,199,639 2,193,718 (99.73%)
    5,921 (0.27%)
    No. 2-2-2 General Appointment of Young-gyo Choi as an inside director Approved 3,177,795 2,199,639 2,194,162 (99.75%)
    5,477 (0.25%)
    No. 3 No. 3-1 General Appointment of Ho-beom Pyeon as a member of the Audit Committee Approved 1,912,168 934,012 905,846 (96.98%)
    28,166 (3.02%)
    No. 3-2 General Appointment of Yun-jong Wang as a member of the Audit Committee Approved 1,912,168 934,012 931,385 (99.72%)
    2,627 (0.28%)
    No. 3-3 General Appointment of Chang-jae Lee as a member of the Audit Committee Approved 1,912,168 934,012 934,012 (100.00%)
    0 (0.00%)
    No. 4 General Approval of director renumeration limit Approved 3,177,795 2,199,639 1,974,176 (89.75%)
    225,463 (10.25%)
    • Number of shares and attendance rate, excluding the majority shareholders and affiliated persons: Agendas 1, 2, and 4 received 803,754 shares or 45.16% (803,754 shares out of 1,799,637 shares) Agenda 3 received 527,143 shares or 35.07% (527,143 shares out of 1,503,026 shares)
    • 1) For the agenda for appointment of auditors and Audit Committee members, the number of shares excluding the number of limited voting shares are listed.
    • 2) Number of shares (A) = Number of shares (B) + Number of shares (C)
    • 3) Percentage of shares in favor (%) = (B/A) x 100
    • 4) Percentage of shares in opposition or abstention (%) = (C/A) x 100

  • Voting rights exercised at the 1st AGM

    (Unit: Shares)

    Voting rights exercised at the 1st AGM
    Agenda Resolution Objectives Approval Total number of issued shares with voting rights (①) 1) # of voting shares exercised among
    ① (A) 2)    		 Shares in favor (B)
    (in %) 3)
    Number of shares, such as opposition and abstention
    (C) (ratio, %) 4)
    No. 1 General Approval of the 1st-term financial statements (Jun. 1 – Dec. 31, 2018) Approved 3,177,795 2,138,834 2,137,479 (99.94%)
    1,355 (0.06%)
    No. 2 Special Modifications to the Articles of Incorporation Approved 3,177,795 2,138,834 2,138,833 (100.00%)
    1 (0.00%)
    No. 3 General Approval of director renumeration limit Approved 3,177,795 2,138,834 2,138,833 (100.00%)
    1 (0.00%)
    • Number of shares and attendance rate, excluding the majority shareholders and affiliated persons: 742,949 shares or 41.71% (742,949 shares out of 1,781,184 shares)
    • 1) For the agenda for appointment of auditors and Audit Committee members, the number of shares excluding the number of limited voting shares are listed.
    • 2) Number of shares (A) = Number of shares (B) + Number of shares (C)
    • 3) Percentage of shares in favor (%) = (B/A) x 100
    • 4) Percentage of shares in opposition or abstention (%) = (C/A) x 100