ROLES AND RESPONSIBILITIES OF BOARD OF DIRECTORS

The main roles of Board of Directors are to manage the Company in accordance with the Company’s interest and goals and to act as a leader in managing the Company. Board of Directors performs all actions and measures concerning the management and the ownership of the Company’s properties including binding the Company with other parties and/or other parties with the Company, within the limits set forth in the Company’s Articles of Association. In legal aspect Board of Directors represents the Company within or outside the court.

In performing these main duties, Directors through Board of Directors meetings are collegially authorized to:

• Establish the corporate strategies, basic financial policies, organization and human resources, and information and communication technology system within the Company.
• Submit the corporate management proposals that require approval from Commissioners and/ or written consent from Commissioners and AGM approval, which then implement such proposals in accordance with the procedures set forth in the Articles of Association, in the Commissioners approval, and in AGM’ resolutions.
• Exert efforts to achieve the Company’s targets in financial, operational, and administrative matters already agreed upon and resolved by AGM, and to establish the performance targets and the Company’s performance evaluation through an organizational mechanism including the Company’s strategic plans.
• Grant project approvals, monitor, and rectify the project’s implementation.
• Establish organizational structure and appoint key officers up to certain levels.