ETHICAL MANAGEMENT

Kumho Tire has established a transparent decision-making system through the board of directors with diversity and expertise. As of March. 31, 2022, the board of directors consists of a total of 9 members including 2 inside directors, 2 non-executive directors, and 5 independent directors. The chairman is Chai Yong Sen, the chairman of Double Star Group, a major shareholder of Xingway Korea (a major shareholder of Kumho Tire), separated from the CEO.

Category Name Gender Nationality Career Expertise Term
Internal
Directors 		Iltaik Jung Male Korea Current President &
CEO of Kumho Tire		 Management May.7, 2021 ~
May. 6, 2024
Non-executive
Directors		 Chai Young Sen Male China Current Chairman
of the Doublestar Group		 Management Jul. 6, 2021 ~
Jul. 5, 2024
Zhang Jun Hua Female China Current CEO of the
Doublestar Group		 Accounting Jul. 6, 2021 ~
Jul. 5, 2024
Independent
Directors		 Jonggil Kim Male Korea Current Lawyer at
Dongin Law Firm		 Law Jul. 6., 2021 ~
Jul. 5, 2024
Hongyup Choi Male Korea Current professor at the
Chosun University College
of Law		 Law May. 19, 2020 ~
May. 18, 2023
Hansuh Gu Male Korea Former President and CEO
of Dongyang Life Insurance
Co., Ltd.		 Management,
Finance		 May. 19, 2020 ~
May. 18, 2023
Jinyoung Kim Male Korea Former President and CEO
of Donyang Life Insurance
Co., Ltd.		 Management,
Finance		 Jul. 6, 2021 ~
Jul. 5, 2024
Moonsun Song Male Korea Former Vice President of
Korea Development Bank		 Finance,
Accounting 		Mar. 30, 2022 ~
Mar. 29, 2025
(As of August. 31, 2023)

BOARD OF DIRECTORS OPERATION

Boards play an important role of supervising management. The Strategy Planning Division supports the best decision-making of the board of directors by providing information on agenda items and prior reporting.
Also, the finance, HR and strategy planning sectors support and manage the activities of four committees under the board of directors. Major ESG performances and climate change response plans of 2021 have been reported at the first and second regular board meetings in 2022, and establishment of a climate action system (1 case) through CDP participation was approved.

BOARD OF DIRECTORS OPERATION GRAPH BOARD OF DIRECTORS OPERATION GRAPH
  • Number of BOD Meetings Held (Unit:Times)
    • 2019 : 6
    • 2020 : 9
    • 2021 : 9
  • Resolved Agenda (Unit:Cases)
    • 2019 : 25
    • 2020 : 20
    • 2021 : 35
  • Board of Directors Meeting Attendance Rate (Unit:%)
    • 2019 : 98
    • 2020 : 94
    • 2021 : 95

Subcommittee Operation

Kumho Tire established 4 subcommittees under the BOD, including the Audit Committee, Independent Director Nominating Committee, Strategy Operation Committee, and Compensation Assessment Committee.
The Audit Committee consists entirely of independent directors to ensure its independence and transparency.
As for the Independent Director Nominating Committee, majority of the members are independent directors in accordance with the relevant standards and internal regulations.
The Strategy Operation Committee supports the BOD’s strategic decision making on pending management issues, and the Compensation Assessment Committee carries out employee performance assessment and compensation.
The BOD attendance rate in 2020 was 100%.

Subcommittee Operation Subcommittee Operation
Committee
  • Audit Committee : Audits the company's accounting and operation
  • Independent Director Nominating Committee : Nominates candidates for independent directors to be appointed at the general shareholders’ meeting
  • Strategy Operation Committee : • Evaluates short-term management plans • Evaluates short-term performances •Evaluates daily management issues
  • Compensation Assessment Committee : • Establishes the performance assessment and compensation system for the organization and employees • Discusses key HR policies • Reviews the appointment and dismissal of the management
Subcommittee Composition
●chairman ○member (As of August. 31, 2023)
Committee Number of
BOD Meetings
Held(2021)		 Iltaik
Jung		 Chai
Yong
Sen		 un
Hua
Zhang		 Jonggil
Kim		 Hongyup
Choi		 Hanseo
Gu		 Jinyoung
Kim		 Moon sun
Song
Audit Committee 5 ○ ○ ●
Independent
Director Nominating
Committee		 1 ○ ● ○
Strategy
Operation
Committee		 12 ● ○ ○ ○
Compensation
Assessment
Committee		 7 ○ ○ ●