Saneun, “Han Jin-Kal, CEO and Chairman of the Board of Directors should be institutionalized separately”

Input 2021.02.10 17:20

Korea Development Bank is coming in March Hanjin Knife (180640)It was proposed to separate the CEO and the chairman of the board of directors ahead of the general shareholders’ meeting. The chief executive officer (CEO) should not serve as the chairman of the board of directors, and should stipulate the method of reducing external personnel separately.

Currently, Han Jin-Kal is chaired by Chairman Cho Won-tae and former Finance Committee Chairman Kim Seok-dong as chairman of the board of directors. In April last year, former Chairman Kim was appointed as the Chairman of the Board of Directors to improve governance at the shareholders’ meeting. Until 2019, the CEO of Han Jin Kal served as the chairman of the board of directors.

On the 10th, KDB announced that it has proposed a plan to improve management soundness by institutionalizing the separation of CEO Han Jin-Kal and the chairman of the board of directors. Last year Korean Air (003490)this Asiana Airlines (020560)While taking over the company, it participated in the increase in Hanjin Kal and owns a 10.7% stake. Chairman Won-tae Cho and Chairman Cho have a 37.7% stake in friendly powers, and a 41.7% stake in the KCGI-Cho Hyun-ah-Bando E&C trilateral alliance. San Eun is playing the role of Chairman Cho’s’White Knight’.

In this shareholder’s proposal, the KDB also proposed prohibiting the composition of the board of directors’ identity, establishing an ESG (Environmental, Social, Governance) Management Committee within the board of directors, and establishing a compensation committee for transparency and monitoring of director compensation limits. It is a measure to expand women’s participation in management that all members of the board of directors should not be of the same gender, such as men.