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ESG

  • Overview
  • Environmental
  • Social
  • Governance
ESG Value
CLASSYS is dedicated to delivering customer-oriented and innovative products and solutions, enabling beauty and happiness for all.
We firmly believe that ESG values will help shaping CLASSYS’ sustainable future, and We are committed to exploring and implementing ways for the company and society to coexist and thrive together.
ESG Strategy
CLASSYS drives sustainable ESG value creation through stakeholder communication. Our transparent and professional governance, focused on ethical management, supports strategic initiatives like mutual growth, quality management, and carbon neutrality. Through cross-functional collaboration, we embody ESG values, keeping stakeholders informed of our sustainable progress and processes.
ESG Ratings
CLASSYS are committed to creating ESG value. We have received a B+ rating by the Korea Institute of Corporate Governance and Sustainability.
In particular, we have obtained an A rating in the corporate governance sector and have been recognized as an excellent corporate governance company.
ESG Report
CASSYS 2022 Sustainability report
CLASSYS transparently reports on our actions to shape a sustainable future.
ESG Policies
We establish and implement policies for ESG value. We will communicate transparently with stakeholders about our progress and performance in
accordance with these policies.
Implementing Net-Zero Governance
CLASSYS has established net-zero governance and
is actively implementing projects to reduce our greenhouse gas emissions.

Establishing Board oversight

Dedicated EHS Team

Regular screening of environmental and safety laws and regulations

Energy and GHG inventory and monitoring

Company-wide education and campaigns

Zero environmental violations and fines in 2022

Additional KPIs for environmental indicators

Linking performance evaluation to compensation

Fostering a culture of embodying ESG

Continuous performance analysis and improvement

Sustainable Growth and Mutual Growth
CLASSYS is seeking talented people who can grow sustainably together, driven by customer-oriented values.
We provide diverse opportunities for shared growth.
Growth for Our Sustainable Future
  • Respecting
    diversity
  • Onboarding
    education
  • Core Values
    education
  • Leadership training
    programs
  • Expert training
    programs
  • Fair
    evaluations
Embracing Diversity and Creating a Welcoming Work Environment
CLASSYS believes in providing equal opportunities during talent recruitment and has implemented various programs to foster
a harmonious work-life balance.
  • Support for personal
    development(up to KRW 1,000,000 per year)
  • Flexible start time(between 8 am to 10 am)
  • Lunch and
    dinner provided
  • Support for
    in-house club activities
  • Support for
    holiday bonuses
  • in-house cafeteria
    and rest facilities
  • Support for health
    examinations
  • shortened work
    hours during pregna
  • parental leave
  • Pre and
    postnatal leave
  • Support for
    vacation allowances
  • Flexible use of
    paid time off
Health, Safety, and Information Security
CLASSYS employs secure and transparent management practices to
prevent disasters and incidents.

Operating a Dedicated EHS Team

Managing Safety and Health Regulations

Implementing Safety Accident Prevention Measures

Developing and Enforcing Accident Prevention Strategies

Company-wide Education and Campaigns

Performance Measurement and Continuous Improvement

Zero Industrial Accidents and Major Accidents in 2022

Operating a Dedicated IT Team

Managing Information Protection and Privacy Policies

Establishing Information Security Systems

Regularly Disposing of Personal Information

Preventive Management of Information Incidents

Company-wide Education and Campaigns

Zero Information Leakage Incidents in 2022

Quality Management
CLASSYS has implemented a robust quality management system and
processes to ensure the production of highly reliable and top-quality products.

Compliance with Good Manufacturing
Practice (GMP) certification from the
Ministry of Food and Drug Safety (MFDS)
for our production and quality management
of medical devices

Compliance with ISO 13485 for
a quality management system
in the medical device industry

Qualified product approvals from reputable
authorities such as the Ministry of
Food and Drug Safety Administration and
CE certification

In-House Quality Inspections

Continuous Quality Improvements

· Product Education
· Expert Training Programs
· Suggestion System
· TFT Program, etc.

Thorough Tracking Management

· UDI
· Serial

Results of the 8th Annual General Meeting

Agenda Result As a percentage of total shares outstanding with voting rights
Attendance Vote in favor Votes against/abstentions
No.1. Approval of the 8th non-consolidated and consolidated financial statements (cash dividend of KRW 116 per share) Approved 67.5% 67.2% 0.3%
No.2. Amendment to the Articles of Incorporation Approved 67.5% 67.4% 0.1%
No.3. Approval of the remuneration cap of directors Approved 67.5% 67.4% 0.1%
No.4. Granting of stock options Approved 67.5% 67.0% 0.5%

Dividend information for the last 5 years

Category Cash dividend per share (KRW) Total cash dividends(KRW) Consolidated cash dividend payout ratio (%) Total dividend yield (%)
2018 14 867,623,078 5.8% 0.3%
2019 46 2,960,761,480 8.9% 0.3%
2020 60 3,882,550,080 10.2% 0.4%
2021 66 4,271,313,024 9.8% 0.3%
2022 116 7,471,451,656 9.9% 0.6%

Appointments and Qualifications

Directors are appointed by the shareholder’s General Meeting upon the Board of Directors’ recommendations. In an appointment of directors, we ensure that Directors fulfill all legal requirements and qualifications specified in the Articles of Incorporation and comply with the appropriate procedures. In accordance with the provisions of Article 363 of the Commercial Law and Article 21 of the Articles of Incorporation, we provide written or electronic notice to shareholders of the time, place, and purpose of the general meeting at least two weeks in advance. When the purpose of the meeting involves director appointments, we also notify shareholders of the candidates’ names and biographies.

Career and Term

Name Career Appointment Term of office
Period Career

Seung Han Baek

CEO
& Chairperson of the Borard

1991~1999 B.A., Health Science, Yonsei University 2022.03.31 2022.04.18 ~
2024.03.29
2007~2009 MBA, Helsinki School of Economics
2017~2022 CEO, BeckmanCoulter Korea
2017~2022 Director, Danaher Korea
2019~2021 Chairperson of In Vitro Diagnostic Products Committee of Korea Medical Devices Industry Association
2022~Present CEO, CLASSYS Inc.

Lee, Jung Woo

Non-executive director

1996~2003 BE in Industrial Engineering, Seoul National University 2022.03.31 2022.03.31 ~
2024.03.29
2008~2010 MBA, Wharton School, University of Pennsylvania, USA
2015~Present Partner, Bain Capital Private Equity (Asia), LLC (Hong Kong)
2022~Present Non-executive director, CLASSYS Inc.

Kim, Dong Wook

Non-executive director

1995~1999 BE in Electrical Engineering, Seoul National University 2022.03.31 2022.03.31 ~
2024.03.29
2003~2005 MBA, Columbia Business School
2006~2020 General manager, Citigroup Global Market Security
2020~Present Partner, Bain Capital Private Equity
2022~Present Non-executive director, CLASSYS Inc.

Kim, Hyunseung

Non-executive director

1998~2006 BE in Industrial Engineering, Seoul National University 2022.03.31 2022.03.31 ~
2024.03.29
2018~Present Senior executive director, Bain Capital Private Equity
2022~Present Non-executive director, CLASSYS Inc.

Park, Wan Jin

Non-executive director

2008~2014 Stanford University, BA of Economics,
MS of Management Science & Engineering
2022.03.31 2022.03.31 ~
2024.03.29
2016~Present Executive director, Bain Capital Private Equity
2022~Present Non-executive director, CLASSYS Inc.

Park, Jun Hong

Outside director

1988 BA in Management, Seoul National University 2022.03.31 2022.03.31 ~
2024.03.29
1989 MA, Business School, Seoul National University
1991 University of Michigan, Ann Arbor MBA
2017~2020 Managing director/Vice president, Johnson & Johnson, Vietnam
2021~Present Outside director, Ildong Holdings Co., Ltd
2022~Present Outside director and Audit Committee member,

CLASSYS Inc.

Hyuk Jin Kwon
Outside director
1989 BA in Economics, College of Social Science, Seoul National University 2022.03.31 2022.03.31 ~
2024.03.29
1991 MA in Financial Management, Business School, Seoul National University
2017 Ph.D in Finance & Accounting, Business School, Dongguk University
2015~2019 CEO of consulting unit, NamuCorp Co., Ltd
2020~2021 Director/Vice president, Jungjin Accounting Corp.
2021~Present Standing auditor, Kolon Life Science
Present Adjunct Prof., Dongguk Univ. (Dept. of Accounting)
2022~Present Outside director and Chairperson of Audit Committee, CLASSYS Inc.

Kim, Dong Ju

Outside director

1997 MA in Psychology, Yonsei University 2022.03.31 2022.03.31 ~
2024.03.29
2002 MBA, Wharton School, University of Pennsylvania, USA
2018~2021 Country general manager, Sephora Korea
2021~Present Founder and CEO, LAVOIR
2022~Present Outside director and Audit Committee member,
CLASSYS Inc.

Committees

Nomination Committee
Purpose The committee evaluates the overall competence of director nominees, taking into account their independence, transparency, expertise, and other factors, and makes recommendations accordingly.
Delegation of authority 1. Establish criteria for selecting Independent Director candidates
2. Recommend Independent Director candidates
3. Other matters delegated by the Board
Members Kim Dong Ju(Chair), Seung Han Baek, Kim Hyun seung
Pay Committee
Purpose The committee deliberates on matters such as the resolution of director compensation and the compensation system.
Delegation of authority 1. Propose a remuneration cap for directors at the AGM
2. Deliberate internal director’s individual remuneration
3. Other matters delegated by the Board
Members Hyuk Jin Kwon(Chair), Kim, Dong Wook, Park, Wan Jin

Activities

Date Agenda Result Outside directors’ Approval/ Attendance/ Capacity
2022.02.15 Reporting 1) ICFR operation status by CEO Reported 3/3/3
Reporting 2) Completion of investment in financial assets Reported 3/3/3
Reporting 3) Completion of investment in property, plant, and equipment Reported 3/3/3
Reporting 4) Status of main contracts Reported 3/3/3
No.1. Approval of the 7th financial statements Approved 3/3/3
No.2. Approval of the 7th business report Approved 3/3/3
No.3. Convening the ordinary general meeting of shareholders Approved 3/3/3
No.4. Approval of the estimated amount of incentives Approved 3/3/3
2022.02.15 No.1. Change of the location of main office Approved 3/3/3
2022.03.15 No.1. Recommendation of director and audit committee member candidates Approved 2/2/3
No.2. Amendment to the Articles of Incorporation and two others Approved 2/2/3
No.3. Addition of an agenda to the ordinary general meeting of shareholders Approved 2/2/3
2022.03.15 No.1. Establishment of branch office Approved 2/2/3
2022.03.16 No.1. Recommendation of director and audit committee member candidates Approved 2/2/3
No.2. Changes in schedule and agenda of the ordinary general meeting of shareholders Approved 2/2/3
2022.03.22 Reporting 1) Evaluation of ICFR and one more reporting Reported 3/3/3
Reporting 2) Pre- and post-audit adjustments of the financial statements Reported 3/3/3
2022.03.22 No.1. Payment of severance pay Approved 3/3/3
2022.04.14 No.1. Appointment of CEO Approved 3/3/3
2022.04.14 No.1. Approval of compensation of registered executives Approved 3/3/3
No.2. Evaluation of the appropriateness of ICFR manager and a team in charge of ICFR Approved 3/3/3
No.3. Amendment to the bylaws on the board of directors Approved 3/3/3
2022.05.12 No.1. Approval of the first-quarter financial results Approved 3/3/3
2022.08.10 Reporting 1) Evaluation of the appropriateness of ICFR Reported 3/3/3
Reporting 2) First half financial results Reported 3/3/3
No.1. Amendment to the bylaws on the board of directors Approved 3/3/3
No.2. Approval of the result of establishing the support policy Approved 3/3/3
2022.09.15 No.1. Approval of treasury stock purchase trust agreement Approved 3/3/3
2022.09.15 No.1. Approval of asset management plan Rejected 0/3/3
Reporting 1) Costs related to the interior decoration of new office Reported 3/3/3
2022.10.28 No.1. Closure of branch office Approved 3/3/3
2022.11.10 Reporting 1) Third-quarter financial results Reported 3/3/3
Reporting 2) Consulting contract Reported 3/3/3
No.1. Approval of fund operation plan Approved 3/3/3
2022.12.21 Reporting 1) Succession plan Reported 3/3/3
No.1. Amendment to the bylaws on the organization and roles Approved 3/3/3
2022.12.21 No.1. Addition of lease business and report of the closed place of business Approved 3/3/3

Appointment, Independence, and Duties

Our Audit Committee operates under the Audit Committee Charter in accordance with relevant laws, regulations, and the Articles of Incorporation. The Committee is composed of independent directors appointed by the shareholders’ General Meeting upon the Board of Directors’ recommendations, and the Committee includes accounting and financial experts. There are no relationships between the Committee members and the Company or its major shareholders that could compromise the Committee’s independence. Moreover, the Committee meets all legal requirements, including having chaired by an independent director.

The Audit Committee carries out its responsibilities as follows: It reviews accounting documents, such as financial statements, and the audit procedures and results conducted by external auditors. When necessary, the Committee requests additional reviews of books and related documents and evaluates the findings. Furthermore, the Committee receives reports from the internal accounting officer and assesses the functioning of the internal control over financial reporting system, ensuring the preparation and disclosure of reliable financial information. Additionally, the Audit Committee participates in important meetings, including the Board of Directors gatherings, to conduct audits of the business. If required, the Committee receives reports on management and business from directors and reviews important business reports using appropriate methods, including requesting further reviews and supplementary materials.

Career and Term

Name Career Appointment Term of office
Period Career

Park, Jun Hong

Outside director and Audit Committee member

1988 BA in Management, Seoul National University 2022.03.31 2022.03.31 ~
2024.03.29
1989 MA, Business School, Seoul National University
1991 University of Michigan, Ann Arbor MBA
2017~2020 Managing director/Vice president, Johnson & Johnson, Vietnam
2021~Present Outside director, Ildong Holdings Co., Ltd
2022~Present Outside director and Audit Committee member,

CLASSYS Inc.

Hyuk Jin Kwon
Outside director and Chairperson of Audit Committee
1989 BA in Economics, College of Social Science, Seoul National University 2022.03.31 2022.03.31 ~
2024.03.29
1991 MA in Financial Management, Business School, Seoul National University
2017 Ph.D in Finance & Accounting, Business School, Dongguk University
2015~2019 CEO of consulting unit, NamuCorp Co., Ltd
2020~2021 Director/Vice president, Jungjin Accounting Corp.
2021~Present Standing auditor, Kolon Life Science
Present Adjunct Prof., Dongguk Univ. (Dept. of Accounting)
2022~Present Outside director and Chairperson of Audit Committee, CLASSYS Inc.

Kim, Dong Ju

Outside director and Audit Committee member

1997 MA in Psychology, Yonsei University 2022.03.31 2022.03.31 ~
2024.03.29
2002 MBA, Wharton School, University of Pennsylvania, USA
2018~2021 Country general manager, Sephora Korea
2021~Present Founder and CEO, LAVOIR
2022~Present Outside director and Audit Committee member,

CLASSYS Inc.

Activities

Date

Agenda

Result

Approval/ Attendance/ Capacity

2022.02.15​

Reporting 1) Report of the 7th business report the 7th Financial Statements

Reported

3/3/3​

Reporting 2) ICFR operation status by CEO

Reported

3/3/3​

Reporting 3) Communication by the external auditor

Reported

3/3/3​

Reporting 4) Internal audit result

Reported

3/3/3​

Reporting 5) Status of IWS operation

Reported

3/3/3​

Reporting 6) Status of disclosure execution

Reported

3/3/3​

Reporting 7) Conclusion of external audit contract

Reported

3/3/3​

Reporting 8) Creation of new accounts

Reported

3/3/3​

No.1. Evaluation of ICFR operation status

Approved

3/3/3​

No.2. Approval of the Audit Report and Auditor’s Opinion Letter

Approved

3/3/3​

2022.03.22​

No.1. Deliberation on agenda at the ordinary general meeting of shareholders

Approved

3/3/3​

No.2. Evaluation of audit activities

Approved

3/3/3​

2022.04.14​

Reporting 1) Completion of the project for ICFR sophistication

Reported

3/3/3​

Reporting 2) Evaluation of the appropriateness of ICFR manager and a team in charge of ICFR

Reported

3/3/3​

No.1. Election of the chairperson of the audit committee and designation of the order of acting duties in case the chairperson is absent

Approved

3/3/3​

No.2. Succession of the audit committee support organization

Approved

3/3/3​

No.3. Approval of the plan for audit committee operation

Approved

3/3/3​

2022.05.11​

Reporting 1) Communication by the external auditor

Reported

3/3/3​

Reporting 2) The first-quarter financial results

Reported

3/3/3​

Reporting 3) ICFR plan and progress

Reported

3/3/3​

Reporting 4) Status of IWS operation

Reported

3/3/3​

Reporting 5) Status of disclosure execution

Reported

3/3/3​

No.1. 1st plan to investigate the ICFR operation status

Approved

3/3/3​

No.2. Internal audit plan

Approved

3/3/3​

2022.08.10​

Reporting 1) First half financial results

Reported

3/3/3​

Reporting 2) Interim report of ICFR

Reported

3/3/3​

Reporting 3) Result of internal audit

Reported

3/3/3​

Reporting 4) Status of IWS operation

Reported

3/3/3​

Reporting 5) Status of disclosure execution

Reported

3/3/3​

2022.11.23​

Reporting 1) Third-quarter financial results

Reported

3/3/3​

Reporting 2) Interim report of ICFR

Reported

3/3/3​

Reporting 3) Result of internal audit

Reported

3/3/3​

Reporting 4) Status of IWS operation

Reported

3/3/3​

Reporting 5) Status of disclosure execution

Reported

3/3/3​

Policies to ensure independence and expertise when appointing external auditor

For the appointment of an external auditor, the Audit Committee reviews proposals of firms and assesses candidates and approves the agenda item to appoint an external in accordance with the Act on External Audit of Stock Companies and a regulation regarding the appointment of an external auditor. Based on the approval of the Audit Committee, an external auditing contract is signed with external auditors. The Company consults with external auditors to determine the audit time, capacity, fees, and plan, ensuring the auditor’s independence. Also, the Audit Committee evaluates after the conclusion of the external audit whether the external auditor has fulfilled its duties and whether the content and frequency of communications were appropriate.

Appointment status

In accordance with Article 11-2 of the Act on External Audit of Stock Companies, we were requested to use a designated external auditor in 2022, after voluntarily appointing an external auditor for six consecutive years. In October 2021, the Securities & Futures Commission designated Nexia Samduk as an external auditor for three consecutive years from FY2022 through FY2024.

Name

Appointment

Term

Remark

Nexia Samduk

2021.12.27

FY2022 ~ FY2024

Designated external auditor

Provision of non-audit services by an external auditor

No non-audit services have been provided by Nexia Samduk to CLASSYS. The Audit Committee conducts preliminary reviews on the non-audit services from external auditors and approves only if they do not compromise  independence and audit quality.

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