Hanwha Systems Announces 'Corporate Governance Charter'... Proclaims Ethical Management
[Asia Economy Reporter Jin-ho Kim] Hanwha Systems announced on the 25th that it has established a 'Corporate Governance Charter' containing its commitment to transparent and sound ESG (Environmental, Social, and Governance) management and ethical management policies for fair corporate activities.
The governance charter formalizes regulations and responsibilities related to corporate governance, including ▲shareholders' rights ▲the roles and operations of the board of directors and audit bodies ▲protection of stakeholders' rights ▲management monitoring procedures by the market.
Going forward, Hanwha Systems will broadly share board and audit matters and enhance the substantive participation level of the board of directors and the committees established within the board.
Under the Hanwha Systems board of directors, there are five committees functioning: the Audit Committee, the Internal Transactions Committee, the Outside Director Candidate Recommendation Committee, the Compensation Committee, and the ESG Committee. Among these, all committees except the Outside Director Candidate Recommendation Committee are composed solely of outside directors.
Additionally, Hanwha Systems has decided to restrict the 'self-nomination' (the candidate's own reappointment resolution) of outside directors, similar to financial institutions, marking the first time this has been done by a large-cap listed company.
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Seong-cheol Eo, CEO of Hanwha Systems, stated, “We aim to strengthen the competitiveness of existing businesses in the defense and ICT sectors and diversify our portfolio through new businesses such as UAM, low-earth orbit satellite communications and earth observation space businesses, and digital platform businesses based on blockchain technology, aspiring to become a global company. Hanwha Systems plans to secure a sustainable growth engine and take the lead in ESG by doing its best not only in governance but also in corporate environmental and social responsibilities.”
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