메뉴열기
Corporate Governance

We enhance the value of our shareholder while protecting corporate and social values

The Board of Directors

Hyosung Advanced Materials secures the Board of Directors’ transparent and independent decision-making authority and operates a governance system which enables efficient business management based upon appropriate checks and balances. As the highest decision-making body of the company, the Board of Directors(BOD) reviews and decides on matters required by law or corporate articles of association as well as matters delegated by the general meeting of shareholders. The BOD is also responsible for the review and decision of the foundational principles of business management and its operation aiming to improve interests of all stakeholders including shareholders.

Constitution of the BOD

Appointment of the BOD

As of the end of December 2018, the BOD consists of 5 directors including 2 standing directors and 3 outside directors, who were appointed as the BOD members on June 1, 2018 when Hyosung Advanced Materials Corp.’s BOD for incorporation took place. Limitations on gender, religion and academic background is banned for the BOD appointment, and candidates are appointed as BOD through a fair process at the general meeting of shareholders. Candidates for standing director are nominated at the BOD and the outside directors are nominated through the Outside Director Candidate Nominating Committee.

BOD’s Professionality

In the fast-changing business environment where strategic decision-making of the BOD is constantly required for business continuation, professionality and expertise is prerequisite for all board members to make timely and right decisions. At Hyosung Advanced Materials, the most highly qualified specialist is in charge of general management of business and takes on full responsible for management as the Managing Director of the BOD. Outside directors, contribute different perspectives to the Board that they bring from their professional background as specialists in finance, legal and public sector as well as provide advice from a objective point of view. Supporting organizations within the company assist outside directors in carrying out their professional duties as the BOD on the board of directors and committees. Prior to the BOD meeting, discussion materials and supplementary materials are provided in advance for a full review, and they also provide presentations of the key issues. In addition, to enhance their understanding of our business, they carry out regular site visits to our key production sites globally, and are provided with key issue updates frequently.

Executive directors

The registered members have been chosen based on their dates of registration.

  • Jungmo HwangCEO
    • Term of officeJune 1, 2018 - May 31, 2020
    • Relationship with the largest shareholderNone
    • Possession of liability insuranceYes
    • Profile
      • Present) CEO of Hyosung Advanced Materials
      • Past) concurrent President of Tire & Industrial Reinforcements PU and President of Hyosung Vietnam
      • Past) General Manager of Hyosung Chemical Fiber (Jiaxing)
  • Seunghan Kim
    • Term of officeJune 1, 2018 - May 31, 2020
    • Relationship with the largest shareholderNone
    • Possession of liability insuranceYes
    • Profile
      • Present) President of Technical Yarn PU(Concurrent President of Interior PU, Director of Aramid Business Division)
      • Past) Head of Distribution & Trading at Hwaseung Networks

Non-executive directors

The registered members have been chosen based on their dates of registration.

  • Dongkun Kim
    • Term of officeJune 1, 2018 - May 31, 2020
    • Relationship with the largest shareholderNone
    • Possession of liability insuranceYes
    • Profile
      • Present) Lawyer at Chunwoo Law Firm
      • Past) Chief Justice of Seoul High Court
  • Ingoo Han
    • Term of officeJune 1, 2018 - May 31, 2020
    • Relationship with the largest shareholderNone
    • Possession of liability insuranceYes
    • Profile
      • Present) Professor at the Korea Advanced Institute of Science and Technology (KAIST)
      • Past) President of the Korea Academic Society of Business Administration
  • Sangyup Lee
    • Term of officeJune 1, 2018 - May 31, 2020
    • Relationship with the largest shareholderNone
    • Possession of liability insuranceYes
    • Profile
      • Present) Professor in the Department of Biological Engineering at the Korea Advanced Institute of Science and Technology (KAIST)
      • Past) Director of KAIST Institute

Evaluation and Compensation of BOD

Directors are evaluated annually based on their specialty in corporate business and technology as well as their contribution at the BOD meetings, whose result is discussed at the BOD. Upon the evaluation results, compensation for the Board is payed fairly and transparently upon the approval of the general shareholders’ meeting. The remuneration of the Board is provided within the remuneration limit approved at the general meeting of shareholders.

Compensation for Directors and Auditors in 2018

(unit : Mil. KRW)
Compensation for Directors and Auditors in 2018
Persons Total Compensation Average Compensation per person
Standing directors 2 331 166
Outside directors 3 - -
Directors from the Audit Committee 3 95 32

BOD Activities

BOD Operation

Regular and temporary meetings are held according to the Board regulations. Regular meeting is held at least once a quarter, while temporary meetings are convened occasionally when necessary. In 2018, a total of 3 meetings were held, during which 18 agenda were covered including the reporting of incorporation, appointment of the CEO and the Chairman of the BOD were carried out, major transactions and key business issues were covered.

Independency and Transparency of the BOD

In order to reinforce the independency and secure fully-functioning checks of the Board to the top management, Hyosung Advanced Materials comprises the majority of the BOD with outside directors. We separates the roles of CEO and Chairman of the BOD and appointing an outside director as Chairman. The agenda are reviewed and decisions are made in accordance with the articles of association and the Board regulations, and the voting rights of any director who has a special interest or conflict of interests regarding a certain agenda is limited pursuant to the BOD regulations.

BOD Activities
Order Date Contents Result Attendance of outside directors
3 Oct.31.2018
  1. Approval of large-scale internal trading
  2. Report of major managerial activities and financial statements
  3. Report of resolutions passed in the Management Committee on the 3rd quarter of 2018
Approved 3/3
2 Aug.03.2018
  1. Approval of large-scale internal trading
  2. Report of major managerial activities and financial statements
  3. Report of the operation situation and evaluation of the Internal Accounting Control System
  4. Report of resolutions passed in the Management Committee on the 2nd quarter of 2018
Approved 3/3
1 Jun.01.2018
  1. Report of the matters of establishment and the approval of announcement for substituting inaugural general meeting
  2. Appointment of the Representative Director
  3. Appointment of the chairperson of the Board of Directors
  4. Appointment of the members of the Independent Director Recommendation Committee
  5. Appointment of the members of the Management Committee
  6. Appointment of the Compliance Officer
  7. Appointment of the Transfer Agent
  8. Establishment of the head office and branches
  9. Establishment of company regulations
  10. Approval of transactions between directors, etc. and the company
  11. Approval of transactions between the largest shareholder, etc. and the company
Approved 2/3

Breadcrumb