KT&G (President Baek Bok-in) was selected as the best company in the corporate governance category by the Korea Corporation Governance Service (KCGS).
This year's governance evaluation was conducted on 924 listed companies and financial companies. KT&G's Strategic Planning Director Kim Tae-seop attended the '2019 KCGS Excellence Awards' ceremony held in Yeouido, Seoul on May 22. KT&G won the grand prize of excellent corporate governance from Son Byung-du, Vice Chairman of the Financial Services Commission.
As a result, KT&G was honored with the first Grand Prize in the corporate governance category newly-established last year. KT&G acquired A + for two consecutive years in recognition of its excellent sustainability management system in the ESG integrated grade, which combines the achievements of the three areas of environment (E), society (S), and governance (G).
Kim Tae-seop, general manager, said at the award ceremony, “KT & G is doing its best to become a global top-class sustainable company through ESG management.” "We will strive to maximize corporate value and shareholder value and fulfill social responsibilities based on advanced corporate governance."
The Korea Corporate Governance Service praised KT & G's award for “preemptively managing corporate governance risks by enhancing the effectiveness of internal control and establishing a succession system for top management.” The reasons for the award were the enhancement of the audit committee's expertise, reinforcement of the independence of the BOD operation, reorganization of the internal accounting management system, and amendment of internal regulations such as internal accounting management regulations.
KT&G is practicing transparent management by establishing a board-centered professional management system composed of independent outside directors based on an advanced governance structure that separates ownership and management. It also organizes a specialized committee to strengthen the independent activities of the board of directors.
▶ KT&G (President Baek Bok-in) won the Grand Prize in the Corporate Governance category in the KCGS Outstanding Enterprise Awards hosted by the Korea Corporate Governance Service (KCGS). The photo shows Kim Tae-seop, the head of KT & G's Strategic Planning Division (right), receiving the Grand Prize from the vice chairman Son Byung-du of Financial Committee (left) at the '2019 KCGS Excellence Company Awards Ceremony' held at the Yeouido Faculty Center.
▶ KT&G (President Baek Bok-in) won the Grand Prize in the Corporate Governance category in the KCGS Outstanding Enterprise Awards hosted by the Korea Corporate Governance Service (KCGS). On the 22nd, Kim Tae-seop (right) and Son Byung-du (vice chairman of the Financial Services Commission) (left) are taking a picture at the KCGS Excellence Awards ceremony held at the Yeouido Faculty Center in Seoul on the 22nd.
