Chosun University Hosts Forum to Strengthen Public Interest in Corporate Management

Discussion on Reasonable Measures to Limit Reappointment Periods for School Corporation Board Members

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Chosun University has created a forum to strengthen the public nature of corporate governance.

The Chosun University Private School Innovation Support Project Group recently held a discussion titled "Discussion on Strengthening the Public Nature of Corporate Governance and the Openness and Rationality of Board Composition" both online and offline, the group announced on the 2nd.

The discussion focused on deriving reasonable measures regarding the limitation of consecutive terms for board members of the school corporation.

Professor Ji Byeong-geun from the Department of Political Science and Diplomacy gave a presentation on the topic "Promotion Plan for Limiting Consecutive Terms of the School Corporation Board of Directors." Following this, participants including Baek Ran, a board member of the school corporation; Kim Si-uk, chairman of the faculty council; Yang Go-seung, chairman of the staff labor union; Kim Kyung-min, secretary-general of the student council; Kim Yong-rae, secretary-general of the alumni association; Professor Kim Jae-hyung from the Department of Law; Kang Chang-su, head of the Private School Innovation Project Group at Sungshin Women’s University; and Ki Woo-sik, secretary-general of Participatory Autonomy 21, along with other members of the corporation, university constituents, and civil society representatives, engaged in a heated debate.

During the discussion, various opinions from the school corporation and its members were expressed, and through advanced deliberations and discussions aimed at enhancing the public nature of corporate governance, a consensus was formed on deriving reasonable measures.

In particular, proposals for limiting consecutive terms of board members to strengthen the public nature of corporate governance included options of 3 years for 2 terms, 3 years for 3 terms, and 4 years for 2 terms.

Regarding the composition of the corporate board, discussions included increasing the number of board members from 9 to 11, introducing an observer system (granting limited speaking rights without voting rights to representatives of internal university members), adopting a visitor system, and stabilizing measures such as including the president election method in the bylaws.

Jung Se-jong, head of the Private School Innovation Project Group, stated, "Through discussions on reasonable composition plans for board members to strengthen the public nature of corporate governance, we expect a democratic communication forum where diverse opinions are gathered and shared."

Meanwhile, Chosun University was selected for the Ministry of Education’s "Private School Innovation Support Project" in May 2021.

The Ministry of Education’s Private School Innovation Support Project confirms that securing the public nature of school corporations is linked to university development and conducts various private school innovation projects to establish a foundation for promoting public-type private universities by deriving cases.

Through this project, plans are in place to improve the transparency of private university accounting, the democracy and accountability of board operations, and secure democratic decision-making in universities, thereby leading to the strengthening of the public nature of private schools.

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