The’Sustainability Management Committee’, which is composed of outside directors, has the authority to review safety and health plans.
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Material photo
In the future, outside directors will take charge of deliberation and resolution on the Hyundai Motor Group’s ESG (environmental, social, governance) policies and activities. On the 18th, Hyundai Mobis proposed an agenda to change the articles of incorporation to reorganize the existing’Transparent Management Committee’ into the’Sustainability Management Committee’ in the announcement of the convening of the general shareholders’ meeting the day before. Hyundai Motor Company and Kia will also go through the board of directors and decide on amendments to the articles of incorporation with the same purpose. The three Hyundai Motor Group companies have operated the’Transparent Management Committee’ within the board of directors since 2015. He was responsible for securing transparency in internal transactions, protecting shareholder rights, and reviewing large-scale investments. In the future, it will also take on the role of the control tower of ESG management. Prior to 2015, it operated under the name of the’Ethics Committee’. All of these committees are composed only of outside directors. Hyundai Motors is chaired by Lee Dong-gyu, an advisor to Kim & Chang (former Fair Trade Commission secretary), Kia Lee Gwi-nam, former Minister of Justice, and Hyundai Mobis, Kim Dae-soo, a professor at Korea University (business administration). These three companies’ transparent management committees also take on the role of reviewing the company’s safety and health plans. The Hyundai Motor Group said, “With the revision of the Occupational Safety and Health Act, companies of a certain size or larger must establish a safety and health plan every year and obtain approval from the board of directors. Will judge.” By Hong Seok-jae, staff reporter [email protected]