Corporate Governance

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Strengthening Shareholder Rights and Interests
Strengthening Shareholder Rights and Interests
  • · We have adopted an eVoting System starting with the 45th annual general meeting of shareholders to enhance convenience and transparency when shareholders exercise their voting rights (Mar 2019).
  • · Business reports and audit reports are disclosed electronically a week before the annual general meeting of shareholders and kept at the head office and each branch.

Voting Rights Status of the General Shareholder’s Meeting (2022)
(Unit: 1,000 shares)
Category Number of Shares Issued Number of Voting Shares Number of Stocks Held by Shareholders Present at the General Meeting of Shareholders Event Rates
In Korea 40,786 40,035 20,343 50.8%
Abroad 857 857 171 19.9%
Total 41,643 40,892 20,514 50.2%

Transparent and Balanced Operation of BOD
  • · The BOD is comprised of four members (two inside directors, one other non-executive director, and one outside director).
  • · Directors are appointed at the general meeting of shareholders, and are recommended to the general meeting of shareholders after reviewing whether they do not fall under any of the disqualification requirements stipulated in the Commercial Act and the Enforcement Decree of the same Act.
  • · Regular board meetings are to be held in January, February, April, July, October, and December, and details of the main activities of the BOD are to be disclosed on the business report.
Members of the Board
  • Dong-Ryeol Lee, CEO
    Executive Director, Chairman of the Board
    • Date
    • Tenure
      2023.3 ~ 2024.3
    • Career
      Deputy General Manager, POSCO Gwangyang Works
      Steelmaking Dept. Head, POSCO Pohang Works
      Dept. Head, PT.KRAKATAU POSCO
  • Won-Joon Jang, Inside Director
    Executive Director
    • Date
    • Tenure
    • Career
      Dept. Head, PT.KRAKATAU POSCO
      Dept. Head, Steel Planning Office, POSCO
      Leader of Finance Office, POSCO
  • Sang-yong Kim, Non-Executive Director
    Non-Executive Director
    • Date
    • Tenure
      2023.3 ~ 2024.3
    • Career
      Head of Business Planning Office, POSCO
      Group Head, Right-path Management Office, POSCO
      Dept. Head, POSCO ZPSS
  • Young-bum Park, Independent Directors
    Outside Director
    • Date
    • Tenure
      2020.3 ~ 2024.3
    • Career
      Professor of Hansung University
      Chairman, Human Resources Development Service of Korea
      Chairman, Korea Labor and Employment Relations Association
Appointment Process of Outside Directors
Board Resolutions
Period: Jan.1-Dec.31, 2022
Session Date Agenda Result
1 01.27 Approval of the 48th financial statements and operating report, blanket credit line agreement with financial institutions, and contribution to the employee welfare fund. Passed
2 02.24 Decisions on convening, reports and agenda items of the 48th Annual General Meeting of Shareholders, and safety and health planning for 2022. Passed
3 03.21 Appointment of CEO, granting of executive director position, appointment of a fair-trade compliance manager, and adjustment of the operating standards for executive compensation. Passed
4 12.20 Approval of the 2023 Management Plan, investment in rationalizing old facilities at the aluminum plant, revision of the executive remuneration policy, and contribution to donations. Passed

Audit Independence
  • · Composed of one standing auditor according to Article 409 (Appointment) of the Commercial Act and Article 44 (Audit) of the Articles of Incorporation.
  • · Inspection is conducted by forming an independent Audit Division under the Audit Group according to Chapter 2 (Organization, Responsibilities and Rights) of the Company’s internal audit regulations.
Audit Status
Category Name Appointment Date Appointment Method Tenure
Standing Auditor Jin-young Kim Mar 31, 2022 regular shareholders' meeting Three years
External Auditors
Appointment Status
Corporate Name Appointment Date of the External Auditor Contract Terms Recent Audit Feedbacks
Hanyoung Accounting Firm Feb 14, 2022 2022-2024 (three years) Appropriate (2022년)
Whether the Best Practices Are Applied in Corporate Governance
Recommendations Based on Best Practices Whether Adopted or Not
Introduction of the Corporate Governance Charter
Introduction of Employee Ethics Regulations
Disclosure of BOD activity details, Disclosure of attendance rate, and whether they agree with major agenda items.
Introduction of regulations on the roles and operation process of BOD and various committees.
Joining of director’s liability insurance for damages at the Company’s expense.
Maintaining independence of outside auditors.
Approval of the accuracy and completeness of the financial report by the CEO and the person in charge.
Explanation on the difference with the best practices.
Disclosure in both Korean and English of audit reports and important regular notifications.
* Audit reports and important ad hoc disclosures are announced in Korean.