Go contents

    At a Glance

    Company Ethics

    • Transparent Management
    • Code of Conduct

    Business ethics and transparent management

    OCI complies with global standards by establishing business ethics and transparent management, which has enabled it to maximize stakeholder interests and corporate profits. By ensuring transparent governance, OCI has laid the foundation for sustainable management, which it reinforces through responsible management, the independence of the board of directors and audit committee, and information disclosure.

    A transparent and independent board of directors.

    OCIs board of director consists of 8 directors, of whom 4 are outside directors.

    OCIs directors are professionals that have a combination of expertise and hands-on-experience in the fields of law, chemicals and finance. The main role of the outside directors is to serve as checks and balances, as well as to monitor the companys overall management activities. They present an impartial view and assessment of the issues, including major business issues and management operations.

    Formation of committees under the board of directors

    OCI has established 4 committees under its board of directors to improve corporate governance and enhance management transparency. To guarantee fairness and independence in the process of selecting external directors, OCI has established the outside Director Candidate Recommendation Committee. As well, OCI has established the Audit Committee, which is mainly comprised of external directors and has the role of carrying out accounting and audit practices; the Management Committee, whose role is to review and make decisions on management issues; and the Compensation Committee, which works to ensure a fair and efficient incentive system.

    2010 Board activities

    The 12th OCI Board of Directors meeting of 2010 showed high attendance rate of 89%. In the 2010 Board of Directors meeting, the investment plan for polysilicon facilities extension, the investment plan for Needle Coke pilot plant construction and the 2011 management plan were covered as major agendas.

    Corporate Sustainability Management System

    To respond to the changes in government policy regarding the management paradigm, while meeting stakeholder requirements regarding sustainability management, OCI has been continuously engaged in work to fulfill its social and environmental responsibilities as an aspect of corporate finance. In line with these practices, a Corporate Sustainability Management Report will be published in 2010, and an office responsible for the corporate sustainability report will be created. OCI will be actively engaged in continuous activities to ensure the achievement of corporate sustainability goals.

    Honored for corporate governance improvement

    Korea Stock Exchange and Korea Corporate Governance Services has ranked OCI as one of the most transparent companies in Korea in 2009, recognizing OCIs efforts to establish a sound corporate governance structure and to respect its shareholders and investors.

    search button