Create future value through transparent management.
SK networks practices transparent management under the guidance of the Board of Directors (BOD). It has instilled and operates a sophisticated corporate governance structure, which includes a BOD Secretariat to support the BOD’s pursuit of its duties. Furthermore, we increased the ratio of outside directors to enable pragmatic, BOD-led management that maximizes profits for stakeholders. The outside directors also review the BOD’s activities and provide a strong system of checks and balances in their roles as chairs of the Audit Committee and other subcommittees within the BOD. Through such transparent management policies, we are creating stronger future value for our customers and investors.
We instill trust and confidence in our shareholders and customers.
Our corporate governance structure is already the most advanced in Korea, and we have established a variety of institutional measures to help the BOD lead management in maximizing shareholder value. In addition, the BOD has subcommittees to provide the appropriate checks and balances on the CEO.
The Audit Committee is composed entirely of outside directors with the full independence and authority to check and balance the BOD and CEO who oversee the general management of the company.
We updated our internal control system and adopted a system for certifying financial documents by the CEO, etc. as a result of which we saw a significant improvement in our credibility among shareholders and financial institutions. We also adopted a Compliance Officer system to establish compliance standards and strengthen management stability.
In addition to serving shareholders’ interests through transparent management, we strive to serve the public interests of our community by fulfilling our responsibility to customers, partners and competitors. Our practice of ethical management is guided by the specific protocol as specified in our Code of Conduct.