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 Board of Directors was formed to provide guidance and deliberate on important company agendas, items stipulated by law or in the Articles of Incorporation, details entrusted by general meetings of shareholders, the basic policies of business operations and on essential practices related to business management. The Board of Hankook Tire also oversees the execution of directors’ duties and abides by Korean Commercial Law, which mandates that businesses with over two trillion won must possess a Board of Directors wherein half are non-executive directors.

The Board is comprised of five directors, which includes two executive directors and three outside independent directors, or non-executive directors (NEDs). Among them, the chairman of the Board of Directors is the CEO of Hankook Tire. The Board’s key activities include conducting regular or ad-hoc Board meetings, overseeing annual audits and effectuating change in management when required through Board resolutions.

Directors who comprise the board of directors of Hankook Tire & Technology shall be appointed at a general meeting of shareholders according to Article 382 of the Commercial Act and shall not be discriminated against based on sex, race, origin, etc. Candidates for directors to be appointed by the general meeting of shareholders are selected by the board of directors and the NED Recommendation Committee and confirmed in a bill submitted to the general meeting of shareholders. When there is suggestion by shareholders with respect to the appointment of directors based on relevant laws, the board of directors submit this as a bill to the general meeting of shareholders within the legal range.

The Board also operates four committees—the Audit, NED Recommendation, Sustainability and Internal Transactions Committees. The Articles of Incorporation allows for the creation of additional committees as deemed necessary.

Executive Directors

Hyun Bum Cho (elected on March 26, 2018)

Chief Executive Officer, Hankook Tire, and Chief Operating Officer, Hankook Technology Group
  • Chairman of the Board of Directors
  • Chairman of the Sustainability Committee
  • NED Recommendation Committee

Mr. Cho is the president of Hankook Tire, a position he has held since 2011. He joined the company in 1998 and has held various positions including Head of the Marketing Communications Division. He earned his Bachelor’s degree in Economics from Boston College.

Soo Il Lee (elected on March 26, 2018)

Chief Corporate Strategy & Finance Officer, Hankook Tire
  • NED Recommendation Committee
  • Sustainability Committee

Mr. Lee is the Chief Corporate Strategy & Finance Officer of Hankook Tire since 2018. He joined the company in 1987, and he had a series of various positions including Director of Marketing and Director of Finance Operation. He earned his Bachelor's degree in Commerce and Trade from Kyungpook National University and also received a Bachelor's degree from Michigan State University.

Independent Directors or Non-Executive Directors (NEDs)

Choong Hwan Cho (elected on March 26, 2018)

  • Chairman of the Audit Committee
  • Chairman of the Non-Executive Directors Recommendation Committee
  • Chairman of the Internal Transactions Committee
  • LL. B. in Law, Seoul National University in 1964
  • Director, Samsung C&T Co. in 1979
  • Former Vice Chairman, Hankook Tire, in 2007

Chang Hwa Jung (elected on March 26, 2018)

  • Audit Committee
  • Non-Executive Directors Recommendation Committee
  • Internal Transactions Committee
  • MBA at Graduate School of Business, Western Ontario University, in 2006.
  • Current Professor of Business at Korea University
  • 3-year term as an elected executive director or non-executive director

Sung Phil Hong (elected on March 26, 2018)

  • Audit Committee
  • Non-Executive Directors Recommendation Committee
  • Internal Transactions Committee
  • LL.B. and LL.M. in Law, Seoul National University, in 1986
  • LL.M. and J.S.D., Yale Law School, in 2002
  • Former Independent Director of MANDO Corp.
  • Current Professor of Law at Graduate School of Law, Yonsei University

TOP

It is