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Summary
HYUNDAI WIA’s corporate governance structure
promotes transparent and responsible management under the supervision of a professional and independent board of directors. By promoting the interests of our stakeholders, including shareholders, customers, employees, and partners upholding their rights, HYUNDAI WIA will make a sustainable future.
Whether recommendation for corporate governance structure’s model standard has been adopted or not
| Model Standard Recommendations | Adopted or not | Note |
|---|---|---|
| Introduction of the Corporate Governance Charter | O | |
| Introduction of corporate and employee ethics regulations | O | |
| Introduction of the intensive voting system | X | Exclusion of the introduction of the intensive voting system in accordance with Article 26 of the Articles of Incorporation(Appointment of Directors) |
| Providing information in advance to shareholders at the shareholder meeting | O | |
| Establishment of the board of directors(outside directors are a majority) | O | 4 independent directors |
| Separating CEO and Chairman of the Board of Directors | X | In accordance with regulations of the board of directors, the CEO leads the board |
| Disclosure of the board's activities, attenance rate, and pros and cons of major agendas | O | |
| Establishment of the independent director candidate recommendation committee | O | 2 independent directors |
| Establishment of the compensation committee composition | O | Establishment of remuneration committee on Oct, 2020 |
| Establishment of the audit committee | O | 3 independent directors |
| Disclosure of the composition and role of commitees within the BOD and activities | O | |
| Introduction and disclosure of operating regulations of the board of directors and committees | O | |
| Insurance of directors' liability for damage at company expense | O | |
| Evaluation of the activities of the board of directors | O | Conducting Board Operations Evaluation |
| Maintaining the independence of external auditors | O | |
| Certifying the accuracy and completeness of the financial reports by the CEO and financial officer | O | |
| Explanation of the difference from the best corporate governance standards | O | |
| Disclosure of audit reports and important occasional notices | O |
※ The corporate governance structure's model standards refer to standards presented by the Korea Corporate Governance Service.
