A sharp increase in the number of Independent Directors made it difficult for the Company to convene Board meetings as often as is needed. Therefore, the Company set up committees under the Board in accordance with relevant laws and delegated some of the Board authority to the committees, each of which is filled with Directors who can bring their expertise and experience to the assigned committee.

Board committees, established and operating in accordance with Article 28-2 of Articles of Incorporation, are as set forth:

• Management Committee
• Audit Committee
• Independent Director Recommendation Committee
• Related Party Transactions Committee

* Others
The Company has the Compensation Committee which consists of Executive Directors and major Senior Vice Presidents though it is not a committee under the Board of Directors. Also, although the Company does not have a separate corporate governance Committee, the Board works to maintain a high level of corporate transparencies through the Independent Director Recommendation Committee and the Related Party Transactions Committee.

Each agenda approved by board committees is instantly notified to all Directors, and each Director may call for the convocation of Board meetings within two days from the notice. The Board of Directors may put the resolutions approved by the committees for voting at the Board meeting.

The Compensation Committee is an internal management committee, established to evaluate the capabilities and performance of executives and decide on their remuneration.

The committee comprises of five members including CEO, CFO, and Heads of the Human Resources, Management Support and Management Planning teams.

The Compensation committee shall meet twice a year, one in the first half and the other in the second half.
The committee shall evaluate each executive's attainment of their quantitative and non-quantitative business goals as well as their work capabilities and decide on the compensation.