Kangwon Land, Approval of Executive Recommendation Committee Formation and Operation Plan

Resolution of the Original Proposal at the 201st Board Meeting

Kangwon Land announced on the 30th that it held the 201st Board of Directors meeting at the Emerald Room of High1 Grand Hotel and reviewed the composition and operation plan of the Executive Recommendation Committee.

Kangwon Land Board of Directors

This agenda item is for recommending successor candidates for three non-standing directors (outside directors) whose terms are set to expire on March 31. On this day, Kangwon Land's board approved the original plan for the composition and operation of the Executive Recommendation Committee (ERC).

Accordingly, the ERC will be composed of a total of five members: three non-standing directors, two board-appointed members (one external member and one company representative). The committee will be responsible for deciding the method of recruiting executives, screening executive candidates, selecting those to be recommended as executive candidates, and other tasks related to recommending executive candidates.

The ERC plans to hold its first meeting in February to appoint the chairperson and decide on the candidate recruitment method, recruitment criteria, and detailed screening standards.

Meanwhile, the term of office for Kangwon Land's non-standing directors is two years. After candidates are recommended by the Executive Recommendation Committee and confirmed through the resolution of the Public Institution Management Committee, the candidates are finalized through a vote at the shareholders' meeting and ultimately appointed by the Minister of Strategy and Finance.

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