The nomination and remuneration function is held by the Board of Commissioners due to the Company size.
For the remuneration function, the Board of Commissioners proposes the remuneration based on the controlling shareholders’ approval to be further ratified by the General Shareholders Meeting’s approval by considering the remuneration amount that is commonly applicable in the same industries with the similar size. Another important consideration factor is the Company’s performance at the time of appointment, and later, at the time of annual remuneration adjustment.
In addition, for the nomination function, the Board of Commissioners assists in developing the policy and the nomination of the members of the Board of Commissioners and the Board of Directors.