Committees within the Board of Directors
The BOD consists of five committees. Among them, the Audit Committee and the Outside Director Nomination Committee are compulsory in accordance with laws and regulations. The roles and purposes of each committee are as follows.
- The Audit Committee conducts audits of accounting and major business operations, evaluation of the operation status of the internal accounting management system, etc., and monitors the execution of duties so that directors and management can make rational business decisions.
- The Outside Director Nomination Committee by Inside Directors strictly examines whether candidates for outside directors have independence and professionalism as a director and recommends them as final candidates.
- The Related Party Transaction Committee deliberates and approves transactions between affiliates and related persons that exceed a certain size in order to enhance fairness and transparency in insider transactions, and reports the results to the Board of Directors.
- The ESG Committee deliberates and decides on basic policies and strategies for the company's ESG management so that the company can fulfill its responsibilities and roles for the environment and society, and establish a transparent governance structure to achieve long-term sustainable growth.
- The Management Committee handles daily business matters and financial matters below a certain scale by entrusting it to the Board of Directors, so that the Board of Directors can deliberate on more important issues intensively and efficiently, and promote management's prompt performance
BOD Committees
Committee | Organization | Role | |
---|---|---|---|
Type | Name | ||
Audit committee | Outside director | Doocheol Moon (Chairman) |
|
Byungho Lee | |||
Chung Hae Kang | |||
Jungsuk Oh | |||
Outside Director Nomination Committee | Outside director | Doocheol Moon |
|
Chung Hae Kang | |||
Other Director Not Engaged in Regular Business | Beom Jong Ha | ||
Related Party Transaction Committee | Outside director | Chung Hae Kang (Chairman) |
|
Byungho Lee | |||
Inside director | Sunghyun Kim | ||
ESG Committee | Outside director | Doocheol Moon (Chairman) |
|
Byungho Lee | |||
Chung Hae Kang | |||
Inside director | Hoyoung Jeong | ||
Management committee | Inside director | Hoyoung Jeong (Chairman) |
|
Sunghyun Kim |
Committee Activities within the Board of Directors
Type | Date | Agenda | Approved/Reject | Attendance of Outside Directors |
---|---|---|---|---|
Audit committee | 2022.01.26 | Approval of audit services by external auditors | Approved | 3(3) |
Approval of non-audit service by external auditor | Approved | |||
Approval of evaluation by the head of the supporting department of the Audit Committee | Approved | |||
Report on external audit progress | Report | |||
Report on the operation status of the internal accounting management system | Report | |||
Reporting of the financial statements for the fourth quarter of 2021 | Report | |||
Reporting of the 37th financial statements | Report | |||
Report on internal audits | Report | |||
Report on the results of self-evaluation by the audit committee | Report | |||
Report on the 37th business report | Report | |||
2022.02.17 | Evaluation of the operation status of the internal accounting management system | Approved | 3(3) | |
Evaluation of internal monitoring device operation status | Approved | |||
Preparation and submission of the 2021 audit report | Approved | |||
Business report by the supporting department of the Audit Committee | Report | |||
Report on the review of agendas and documents submitted to the general meeting of shareholders | Report | |||
2022.04.26 | Report on external audit progress | Report | 3(4) | |
Reporting of the financial statements for the first quarter of 2022 | Report | |||
Report on performance evaluation after external audit | Report | |||
Business report by the supporting department to the Audit Committee | Report | |||
Report on management and improvement activities for corporate culture | Report | |||
Outside Director Nomination Committee | 2022.01.26 | Appointment of the chairperson of the Outside Director Candidate Recommendation Committee | Approved | 2(2) |
Report on multiple candidates for newly appointed outside directors | Report | |||
2022.02.17 | Approval of nominations for outside director candidates | Approved | ||
Related Party Transaction Committee | 2022.03.15 | Approval of changes to the Agreement for Use of LG Trademarks | Report | 2(3) |
2022.04.26 | Appointment of chairperson for Related Party Transaction Committee | Approved | 2(3) | |
Approval of payment guarantee for Vietnam subsidiary | Approved | |||
ESG Committee | 2022.04.26 | Appointment of the ESG committee chairperson | Approved | 4(5) |
ESG initiative progress and action plans | Report | |||
ESG initiatives in environmental category | Report | |||
Management committee | 2022.01.25 | Issuance of the 44-1 and 44-2 non-guaranteed bonds | Approved | - |
Type | Date | Agenda | Approved/Reject | Attendance of Outside Directors |
---|---|---|---|---|
Audit committee | 2021.01.26 | Approval of audit services by external auditors | Approved | 3(3) |
Approval of non-audit service by external auditor | Approved | |||
Report on external audit progress | Report | |||
Report on the operating status of the internal accounting management system | Report | |||
Reporting of the financial statements for the fourth quarter of 2020 | Report | |||
Reporting of the 36th financial statements | Report | |||
Report on the review of the financial statements for the fourth quarter of 2020 | Report | |||
Report on internal audits | Report | |||
Report on the results of self-evaluation by the audit committee | Report | |||
Report on the 36th business report | Report | |||
2021.02.23 | Evaluation of the operation status of the internal accounting management system | Approved | 3(3) | |
Evaluation of internal monitoring device operation status | Approved | |||
Preparation and submission of the 2020 audit report | Approved | |||
Report on the 36th Financial Statement Inspection | Report | |||
Report on the review of agendas and documents submitted to the general meeting of shareholders | Report | |||
2021.04.26 | Appointment of Audit Committee Chairman | Approved | 3(3) | |
Report on external audit progress | Report | |||
Report on financial statements for the first quarter of 2021 | Report | |||
Report on inspection of financial statements for the first quarter of 2021 | Report | |||
Report on performance evaluation after external audit | Report | |||
2021.07.27 | Approval of the appointment of the head of the supporting department to the audit committee | Approved | 3(3) | |
Approval of non-audit service by external auditor | Approved | |||
Report on external audit progress | Report | |||
Report on financial statements for the second quarter of 2021 | Report | |||
Report on inspection of financial statements for the second quarter of 2021 | Report | |||
Report on selection of accounting firm (outsourcing of internal accounting management system operation status evaluation) | Report | |||
Report on internal audits | Report | |||
2021.10.26 | Report on external audit progress | Report | 3(3) | |
Report on financial statements for the third quarter of 2021 | Report | |||
Report on inspection of financial statements for the third quarter of 2021 | Report | |||
Outside Director Nomination Committee | 2021.02.23 | Recommendation of outside director candidates | Approved | 2(2) |
Related Party Transaction Committee | 2021.07.15 | Appointment of chairperson for Related Party Transaction Committee | Approved | 3(3) |
Trends on fair trade laws and regulations related to insider trading | Report | |||
Related Party Transaction Committee Operational Plan | Report | |||
2021.11.09 | Re-approval of approved transactions in 2021 | Approved | 3(3) | |
Approval of transactions with related parties | Approved | |||
Approval of self-dealing transactions with major shareholders, etc. | Approved | |||
Approval of real estate lease agreement | Approved | |||
Approval of transactions for goods and services with affiliated companies | Approved | |||
Review of Fair Trade Act and approval of transactions | Approved | |||
ESG Committee | 2021.10.26 | Appointment of the chairperson of ESG committee | Approved | 4(4) |
ESG Promotion Initiative | Approved | |||
ESG Committee Operational Plan | Report | |||
Report on strengthening of safety and environmental competencies | Report | |||
Management committee | 2020.05.25 | Issuance of the 42nd non-guaranteed private placement bonds | Approved | 0(0) |
2021.08.19 | Issuance of the 43rd 1st and 2nd non-guaranteed private placement bonds | Approved |
Type | Date | Agenda | Approved/Reject | Attendance of Outside Directors |
---|---|---|---|---|
Audit committee | 2020.01.30 | Report on external audit progress | Report | 3(3) |
Report on the operating status of the internal accounting management system | Report | |||
Reporting of the financial statements for the fourth quarter of 2019 | Report | |||
Reporting on the 35th Financial Statements | Report | |||
Report on the inspection of the financial statements for the fourth quarter of 2019 | Report | |||
Report on internal audit work | Report | |||
Report the results of self-evaluation by the audit committee | Report | |||
Report on the 35th business report | Report | |||
Approval of non-audit service by external auditor | Approved | |||
2020.02.26 | Report on the review of agendas and documents submitted to the general meeting of shareholders | Report | 3(3) | |
Report on the 35th Financial Statement Inspection | Report | |||
Evaluation of the operation status of the internal accounting management system | Approved | |||
Evaluation of internal monitoring device operation status | Approved | |||
Preparation and submission of the 2019 audit report | Approved | |||
2020.04.22 | Report on external audit progress | Report | 3(3) | |
Reporting the financial statements for the first quarter of 2020 | Report | |||
Report on the review of the financial statements for the first quarter of 2020 | Report | |||
Report on internal audits | Report | |||
2020.07.22 | Report on external audit progress | Report | 3(3) | |
Reporting the financial statements for the second quarter of 2020 | Report | |||
Report on the review of the financial statements for the second quarter of 2020 | Report | |||
Report on internal audits | Report | |||
2020.10.20 | Report on external audit progress | Report | 3(3) | |
Reporting of the financial statements for the third quarter of 2020 | Report | |||
Report on the review of financial statements for the third quarter of 2020 | Report | |||
Report on internal audits | Report | |||
Report on internal accounting management system design evaluation | Report |