Go to the body

Home About Hankook Tire Company Hankook Tire Corporate Governance Board of Directors

Hankook Tire Corporate Governance

To sustain transparent and accountable corporate principles, Hankook Tire has embraced a corporate governance system which recognizes and deals with a wide range of ethical issues to better manage our company and make decisions that benefit all stakeholders.

To sustain transparent and accountable corporate principles, Hankook Tire has embraced a corporate governance system which recognizes and deals with a wide range of ethical issues to better manage our company and make decisions that benefit all stakeholders.


The Hankook Tire & Technology Board of Directors is formed to deliberate and provide advice on important corporate issues, matters stipulated by laws or articles of incorporation, details assigned by the regular board of directors, basic policies of corporate operation, and essential matters related to the management support.
In addition, the board supervises the performance of director's duty and complies with the domestic commercial law requiring 50% of the board members to be independent directors.
The Hankook Tire & Technology Board of Directors consists of two executive directors and three indepedent directors, and the chairman of the board serves the CEO of Hankook Tire & Technology.

The Hankook Tire & Technology Board of Directors operates four committees: the Audit Committee, the Non-Executive Director Candidate Recommendation Committee, the Sustainability Management Committee and the Internal Transaction Committee.
The Hankook Tire & Technology articles of incorporation permits creation of a separate committee if deemed necessary.

Board independence statement

Directors are appointed at the general meeting of shareholders, which is held before March every year. Executive director candidates shall be recommended by the board of directors and independent directors through the Non-executive Director (NED) Recommendation Committee according to transparent and fair procedures. The tenure of directors shall be three years and when a vacancy occurs among directors, an appointment is made individually at the general meeting of shareholders.
In the composition of the board of directors, the Commercial Act, Monopoly Regulation and Fair Trade Act, and other laws are observed.

[Disqualification on the Requirements for Independent Directors]

1. Directors, executive directors and employees who are engaged in the regular business of the relevant company, or directors, auditors, executive directors and employees who have engaged in the regular business of the relevant company within the latest two years;
2. The principal, his/her spouse, lineal ascendants, and lineal descendants, in cases where the largest shareholder is a natural person;
3. Directors, auditors, executive directors and employees of the corporation, in cases where the largest shareholder is a corporation;
4. The spouses, lineal ascendants, and lineal descendants of directors, auditors and executive directors;
5. The directors, auditors, executive directors and employees of a parent company or a subsidiary company of the relevant company;
6. Directors, auditors, executive directors and employees of a corporation which has a significant interest in the relevant company, such as business relations with the company;
7. Directors, auditors, executive directors and employees of another company for which directors, executive directors and employees of the relevant company serve as directors and executive directors.

BOD’s Diversity Policy

We consider gender, age, race, nationality, country of origin and other diverse indicators in appointing our directors to improve the diversity of the BOD. Directors are required to represent the rights and interest of all shareholders and stakeholders in a balanced manner, and no director is discriminated against on the grounds of gender, age, religion or race and are given equal status.

Effectiveness and Transparency of the BOD
Hankook Tire & Technology requires that the board of directors exceed 50% of the quorum1) in order to operate effectively. In addition, in order to faithfully fulfill Hankook Tire & Technology's role as an outside director, outside directors cannot serve as outside directors at more than two companies other than Hankook Tire & Technology. Hankook Tire & Technology has installed and is operating the Audit Committee and conducts self-assessment every year to enhance the effectiveness of the Audit Committee.
During self-assessment, the ‘composition and qualification of the Audit Committee’, the ‘qualification of the chairman of the Audit Committee’, the ‘understanding of corporate business and risk’, ‘work processes and procedures’, the ‘supervision of financial reporting’, the ‘supervision of the audit function’, ‘monitoring activities’, etc. are assessed.

Executive Director

Hyun-beom Cho (Appointed on March 26, 2018)

CEO of Hankook Tire & Technology and COO of Hankook Technology Group
  • - Chairman of the board
  • - Chairman of the Sustainability Management Committee
  • - Member of the Outside Director Candidate Recommendation Committee

Hyun-beom Cho, a president of Hankook Tire & Technology since 2011, joined the company in 1998 and has held various positions including the head of Marketing Communication. President Cho graduated from Boston College majoring in Economics.

Soo-il Lee (Appointed on March 26, 2018)

CEO of Hankook Tire & Technology (General Manager)
  • - Member of the Outside Director Candidate Recommendation Committee
  • - Member of the Sustainability Management Committee

Having been a CEO of Hankook Tire & Technology (General Manager) since 2018, Soo-il Lee joined the company in 1987 and held positions as head of the Marketing and Business Operations Divisions. President Soo-il Lee graduated from Kyungpook National University majoring in Trade, and earned his MBA degree at Michigan State University.

Independent Director

Choong-hwan Cho (Appointed on 26 March 2018)

  • - Chairman of the Audit Committee
  • - Chairman of the Outside Director Candidate Recommendation Committee
  • - Chairman of the Internal Transaction Committee
  • 1964 Graduated from Law School of Seoul National University
  • 1979 Samsung C&T Director
  • 2007 Hankook Tire Vice Chairman

Seong-pil Hong (Appointed on March 26, 2018)

  • - Member of the Audit Committee
  • - Member of the Outside Director Candidate Recommendation Committee
  • - Member of the Internal Transaction Committee
  • 1986 M.D., Ph.D., Law School of Seoul National University
  • 2002 M.D., Ph.D., Yale Law School, USA
  • Former Outside Director, Mando Co., Ltd.
  • Former Professor, Yonsei Law School

Chang-hwa Jung (Appointed on March 26, 2018)

  • - Member of the Audit Committee
  • - Member of the Outside Director Candidate Recommendation Committee
  • - Member of the Internal Transaction Committee
  • 2006 Ph.D. in Business Administration, Western Ontario University
  • Active Professor, Korea University Business School

* Three-year term as the internal/external directors as of the appointment date


TOP

It is