The Board of Directors is the supreme body that makes key decisions regarding SK hynix including its key business goals and management principles. The Board always endeavors to ensure that a transparent business environment is created through better governance.
Based on full independence and greater expertise over business management, the Board pushes for responsible decision making and activities such that it can ensure greater happiness for stakeholders and more robust trust from the investment market.

SK hynix ensures that its independent directors who participate in key decision making are fully independent from the management team and shareholders in accordance with the laws and regulations of the jurisdiction in which it operates and its internal bylaws. It also ensures that its independent directors are fully eligible under the applicable law and are appointed by the shareholders’ meeting without regard to any discrimination, whether by nationality, gender, religion, race or otherwise.

Outside directors occupy 6 seats out of 10 in the Board of Directors, accounting for 60%. The chair is also taken by an independent director, which means greater independence for the Board in its decision making process.

For the election of independent directors, we have a pool of highly professional figures who we think are fit for our long term growth plan. The nominating committee selects candidates for the posts from the pool, who they determine have profound experience and professional knowledge in the industry, finance, legal matters, and/or accounting.
The Board of Directors ensures i) that it has representation from a wide range of stakeholders by ensuring that only those who have complete independence and proven expertise have seats in the Board and ii) that the company’s business management and decision making fully take into account social values and ESG. It also ensure that any applicable law is fully complied with if such a law stipulates that a person who represents minor shareholders be nominated for the Board.

Senior independent directors and the board of independent directors

We were one of the first companies to adopt an independent director system before it was even legalized in an effort to ensure business management driven by the Board of Directors and its full independence. We also have an executive committee consisting only of independent directors that is responsible for reviewing agenda and other key business issues to be addressed at the Board meeting.

Highly diversified board committees

For the Board of Directors to be run more strategically, we have committees under the Board that are responsible for deciding on, or reviewing, businesses for the Board for greater professionalism and objectivity. Many committees operate under the Board where the Board members can engage in the company’s business management and supervision of the management team based on their expertise.

Programs for greater expertise in the Board of Directors

To help our independent directors, who play a crucial role in our responsible management as driven by the Board of Directors, have better insight, we offer a wide range of internal/external training programs and workshops. This allows them to have a better understanding of our business management and to sharpen their expertise while interacting more with the management team over business issues. In particular, we provide regular risk-related trainings more than twice a year to reinforce our oversight related to risk management.