Board of Directors

In order to ensure diversity and expertise when appointing directors, HD Hyundai Construction Equipment appoints professionals with job expertise in their respective fields without discrimination or restrictions in regard to age, educational background, etc.

Outside directors are appointed from among the candidates nominated by the Outside Director Candidate Nomination Committee in consideration of promoting transparent governance and board expertise. Appointment decisions are made by taking into consideration a number of factors such as share ownership, interests in the company, employment at a competitor, diversity, and stakeholder representation.

Composition of the Board of Directors

Inside Directors

• Chairperson of the Board

  Choi Cheol-gon

  Career Highlights

  Current) Chairman, Board of Directors, HD Hyundai Construction Equipment
  Current) Vice President, HD Hyundai Construction Equipment
  Former) Senior Managing Director, Heavy BG, Doosan Infracore
  Former) Senior Managing Director, Asia Operations Division, Volvo Construction Equipment

  Term of Office

  Nov. 2021 to Nov. 2024

• Kim Wan-soo

  Career Highlights

  Current) Head of Business Planning Office, HD Hyundai
  Former) Head of New Business Promotion Office, HD Hyundai
  Former) Head of New Business Promotion Office, Samsung C&T

  Term of Office

  March 2023 to March 2026

Outside Directors

• Park Ki-tae

  Career Highlights

  Current) Full-time Advisor, PwC
  Current) Member, Capital Market Subcommittee, Financial Development Council
  Former) Deputy CEO, PwC

  Term of Office

  March 2023 to March 2026

• Yoo Myung-hee

  Career Highlights

  Former) Ambassador for Economic and Trade Affairs, Ministry of Foreign Affairs
  Former) Head of Trade Negotiation Division, Ministry of Trade, Industry and Energy

  Term of Office

  Oct. 2022 to Oct. 2025

• Cha Kyung-hwan

  Career Highlights

  Current) Lawyer, Pyeongan Law Firm
  Former) Chief Prosecutor, Suwon District Prosecutors' Office
  Former) Head of Planning and Coordination, Supreme Prosecutors' Office

  Term of Office

  March 2023 to March 2026

※ As of the end of March 2023

※ All directors have had no interest in the largest shareholder or transactions with the company in the past three years.

Board of Directors Competency Scheme

Characteristics of the Board of Directors

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  Independence

  ① All board members comply with relevant laws and regulations such as prohibitions against self-dealing and usurpation of corporate opportunity and disclosure of large-scale internal transactions to prevent conflict of interest.
  ② All outside directors are not in any special relations with major shareholders, management, or affiliated companies.
  ③ Outside directors make decisions independently of management and controlling shareholders.
• 

  Expertise & Diversity

  ① To ensure diversity and expertise, the Board of Directors is composed of experts with professional expertise in relevant fields.
  ② Outside directors are appointed from among those with expertise or experience in management, economics, law, or related technologies, or who are socially reputable and meet the qualifications under relevant laws and regulations.
  ③ There is no discrimination or restriction based on age, gender, education, or regional background in evaluating competence and appointing directors.
  ④ Training is provided for outside directors to fulfill their duties.
• 

  Transparency

  ① Information is provided on terms of office, new appointments, and key career details of board members in the notice convening the general meeting of shareholders.
  ② All directors are appointed by resolution of the general meeting of shareholders.
  ③ In addition to disclosures required by law, voluntary disclosures provide detailed and accurate information that may significantly affect the decisions of stakeholders.
• 

  Conflict Mineral Policy

  ① Prioritize legal and ethical compliance in our business practices and actively support the goal of ending the violence and human rights abuses associated with the mining of conflict minerals
  ② Comply with the U.S. legislation and SEC rules requiring reporting and disclosure related to the sourcing of conflict minerals from the Democratic Republic of the Congo and neighboring countries
  ③ Carefully investigate the source of materials, parts, and components we source to manufacture our products and taking appropriate action if they contain conflict minerals
  ④ Not prohibit or discourage the sourcing of conflict minerals from the Democratic Republic of Congo, but comply with the use of independently certified non-conflict mineral materials
  ⑤ Maintain a responsible supply chain, expecting suppliers to adhere to the same principles

Committees within the Board of Directors

We pursue efficiency and independence in the decision-making of the Board of Directors by having three committees (Outside Director Candidate Nomination Committee, Audit Committee, and ESG Committee) where outside directors make up the majority. In particular, the Audit Committee, which audits the management's execution of duties and the status of the Company's assets, is composed entirely of outside directors to strengthen monitoring and oversight of the Company and management and ensure independence in decision-making.