The Company established the Audit Committee as a replacement for supervisors in 2009 to improve corporate governance. Starting in 2011, the shareholders' meeting voted on proposals case by case. Since 2013, the directors have been elected through a nomination system. Since 2015, shareholders may attend the shareholders' meeting by an electronic means. The whistleblowing system was established in 2016 and the number of electronic voting in 2018 accounted for 73% of all shareholders in attendance. The Company shall continue to deepen its corporate governance and CSR culture, strengthen the functions of Directors, implement shareholder activism, improve the quality of information disclosure, and strengthen regulatory compliance in accordance with the FSC's Corporate Governance Roadmap (2018-2020).
The Company has established a sound corporate governance structure. The shareholders' meeting is responsible for the distribution of dividends, amendments to Articles of Incorporation and internal regulations, and the election of directors. The Board of Directors is established under the shareholders' meeting and it is the highest governing body of the Company. The Board of Directors performs its duties according to the Articles of Incorporation and resolutions passed in the shareholders' meeting and it is responsible for passing the Company's business plans, annual financial reports and semi-annual financial reports, assessment on the effectiveness of the internal control system, appointment (dismissal) of the CPA, and the appointment and dismissal of managerial officers. The Audit Committee, the Remuneration Committee, the Risk Management Committee, and the Corporate Social Responsibility Committee have been established under the jurisdiction of the Board of Directors to help deliberate proposals and ensure the quality of decision-making.
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