LG Innotek will reinforce the competitiveness in domestic/overseas market to realize and
maximize shareholder value and corporate value through the management based on
Specialty CEO, Heo Yeong-ho and the board of directors.

The board of directors of LG Innotek is independent from controlling shareholders and the
management. There are three outside directors. All of outside directors have eminent expert
knowledge an experience in their job area. Therefore, the board of directors conducts real
monitoring and checking and provides faithful advice for the management of the company as
an objective supporter. The schedule for the board of directors that is held every month is
set up to allow all directors attend the board. Therefore, the directors has enough time for
preliminary consideration of the data and information provided by the company to exchange
their opinions and to provide thorough and strict appraisal and supervision for the key
management matters, inter-company transactions between affiliates, and the conduct of the
business of the management.

To secure independence of the auditing committee from controlling shareholders and the
management, inside personnel is excluded and all of three members of the auditing
committee are outside directors to secure legality of accounting and corporate transparency
that are key function of the auditing committee and fairness of the management, and the role
as a regulator. Added to that, recognition of election of outside auditors is based on job
expertise, independence, and reputation, additional service capability, international
business capability and the possibility of any conflict of interests with the company.