Corporate Governance Report: Share Buyback and Stable Dividend Policy Maintained, CEO Succession Policy Lacking
NC completed the cancellation of 410,000 shares (approx. 1.9% of total outstanding shares, worth about KRW 127.9 billion) in March 2025, and disclosed a mid- to long-term shareholder return policy of cash dividends equivalent to 30% of consolidated net income attributable to controlling interest for 2025-2027
The board consists of 7 members, including 5 independent directors (71%); the audit, compensation, and independent director nomination committees are composed entirely of independent directors, ensuring independence
Achieved top MSCI ESG rating of AAA and maintained KCGS comprehensive A rating for 5 consecutive years, demonstrating strong ESG performance
CEO succession policy has not been formalized and is under review; the exclusion of cumulative voting will be effective from September 10, 2026
[AI Summary]NC maintains shareholder returns through share buybacks and a stable dividend policy, and its corporate governance is strengthened by an independent board and excellent ESG ratings. However, the lack of a formalized CEO succession plan could pose a future risk, and investors should monitor this area