Practice/Guideline GC’s practice Item 3.1.2 The Board of Directors should determine the appropriate number of Directors to allow the efficient performance of duties, whereby the number of directors shall be no less than five and not exceeding twelve directors, depending on the size, types, and complexity of the business. The Corporate Governance and Business Code of Conduct Handbook stipulates that the Board of Directors shall consist of no fewer than five Directors but no more than fifteen Directors. The Meeting No.13/2018 of the Board of Directors dated December 20, 2018, resolved that the aforesaid number of Directors was appropriate for GC’s complexity and the diversity of its business types. GC’s article of association No. 12 prescribes that the Board of Directors shall consist of no fewer than five Directors but no more than fifteen Directors. Item 4.2.1 (1) The Board of Directors should ensure that a compensation structure is in place and takes into consideration the appropriate ratio of salary, short-term operation results, such as bonuses, and long-term operation results, such as employee stock ownership plans. The Company is in the process of considering the appropriate compensation structure and the connection of compensation to long-term operation results, and the stock exchange conditions that would facilitate such undertakings. Compliance with Corporate Governance Principles in Other Areas GC consistently complies with corporate governance standards. Relevant activities in 2023 are summarized below. Board KPIs The Board of Directors reviewed the Board KPIs to be implemented in 2023 to ensure their alignment with the best practices stipulated in CG Code and DJSI. Data Governance GC implemented a data governance procedure and standard and developed a data platform, bringing together technologies that encompassed a wide range of duties and functionalities, from data ingestion and collection, big data storage, data management, and data preparation, all the way to data analytics and visualization. These technologies were adopted as vital tools to continuously drive GC’s digital transformation. In 2023, the aforementioned technologies were utilized to launch the first phase of data product development from 22 out of 39 datasets. The goal was to expand the capabilities of GC’s advanced analytics for data scientists in each function across GC and enable them to access digital use cases and retrieve high-quality data for use in enhancing GC’s competitive advantage. In the second phase in 2024, the remaining 17 datasets will undergo development to efficiently meet the demand for GC’s data usage across the organization. The Board of Directors recognizes its role as a governing body of the Company. To this end, the Board has prescribed a review of the application of the Corporate Governance Code for Listed Company 2017 (CG Code) to GC’s business context at least once a year as well as an assessment of CG Code compliance to ensure that the outcome is appropriate and that the development plans suitable for the business are consistently formulated. Based on the item-by-item review and assessment results of CG Code compliance in 2023, it was found that GC successfully applied most of the items of CG Code in accordance with the Apply and Explain principle. For any item of the CG Code that GC was unable to or had yet to apply to its business, explanations were recorded as part of the Board’s resolution. 148
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