Governance Charter
Governance Charter
LIG Defense&Aerospace (hereinafter ‘the company’) aims to contribute to society as a high-technology company that creates differentiated values for its shareholders, members, and stakeholders based on the core values of openness and positiveness and to create a safe and convenient future. In addition, the company establishes a sound governance structure to achieve happiness and trust among all its shareholders and stakeholders and to sustain its development and growth.
We hereby set forward the LIG Defense&Aerospace Governance Charter to pursue a transparent governance structure under the goals of promoting shareholder values, protecting the rights of stakeholders, and upholding corporate values.
Differences compared to the Corporate Governance Code
| Categorization | Adoption | Remarks |
|---|---|---|
| Supply of information on general shareholders’ meetings sufficiently in advance | O | Meeting notice 31 days before the 23rd regular general shareholders’ meeting |
| Composition of the Board of Directors (outside directors to take up the majority of positions) | O | Four outside directors among a total of seven directors |
| Separation of the Representative Director and the Chairperson of the Board of Directors | O | Appointment of an outside director as the Chairperson of the Board of Directors |
| Operation of a committee for impartial recommendation of director candidates | O | Operation of a recommendation committee for outside director candidates (composed of two outside directors and one internal director) |
| Invitation of external experts on the company’s expense if it is necessary to hire outside directors | O | Stipulation of the rules of the Board of Directors and committees within the BOD |
| Organization of regular meetings of the Board of Directors and the Audit Committee | O | Over than once a quarter |
| Introduction of regulations on the roles and operation procedures of the Board of Directors and various committees | O | Operation of regulations of the Board of Directors and committees within the BOD |
| Announcement of the detailed activities of the Board of Directors | O | |
| Purchase of liability insurance for directors on the company’s expense | O | Purchase of directors and officers (D&O) insurance |
| Establishment of specialized committees within the Board of Directors | O | Operation of four committees (ESG/risk management/compensation/outside director candidate recommendation committee) |
| Composition of the Audit Committee | O | To be composed of outside directors only |