|① The Company shall have three (3) to eleven (11) directors appointed through the General Meeting of Shareholders in order to enable expression of diverse views and efficient decision-making. However, in order to ensure performance of the BoD’s function of independent and substantive supervision of management, more than half (1/2) of the total number of the directors shall be comprised of outside directors who shall be recommended by the Recommendation Committee on Candidates for outside Directors.
② The BoD shall appoint a chairman with a 3 year term at the first meeting of the BoD after the annual meeting of the shareholders. The chairman shall convene and preside over the meeting of the BoD, and shall cause the roles of the BoD to be effectively performed in all aspects.
③ The BoD meeting shall be held on a regular basis. An Extraordinary BoD Meeting can be called when there is an urgent matter in addition to the ordinary BoD meetings. A regulation that specifically prescribes the authority, responsibility, and procedures of the BoD meetings shall be established and maintained.