Corporate Governance
Corporate Governance Report
Orion has been selected as the “Excellent Corporation of 2022 KOSPI Market Corporate Governance Report Disclosure” organized by the Korea Exchange. The Corporate Governance Report provides details related to corporate governance, such as shareholder rights, the composition and operation status of the Board of Directors and the Audit Committee, and the independence of the external auditor. Orion received excellent reviews for its faithful and clear disclosure of the current state of its governance structure and its efforts to improve shareholders’ rights and interests by clarifying the company’s overall governance and improvement plans. Orion will continue its efforts to increase shareholder value while disclosing its management activities fairly and clearly.
Shareholder Value Enhancement
Protection of Shareholder Rights and Fair Information Disclosure
We operate diverse systems designed to ensure shareholders’ rights in accordance with standards specified in the Articles of Incorporation and relevant laws. Pursuant to Article 26 of the Articles of Incorporation, we follow the principle of granting one vote per share to all shareholders and pay cash dividends once a year to return value to shareholders. Additionally, we provide monthly provisional results before publishing our quarterly reports in the interests of fair disclosure to enable our shareholders and potential investors to enhance their understanding.
Compliance
Compliance Governance
Orion has appointed a Compliance Officer and established a compliance support organization since 2023 to enhance the effectiveness of its compliance management. The Compliance Officer and the compliance support organization continuously monitor compliance with compliance control standards and relevant laws and regulations, and consistently review and monitor major legal risks. In addition, we operate our compliance management system systematically by reporting the operational status of compliance control activities and key inspection results to the Board of Directors at least once a year.
Compliance Strategy
Orion has established a compliance system and implements relevant policies to ensure fair and transparent business operations. In 2023, we enacted compliance control standards to strengthen our compliance management, and these standards are applied to all business operations and work-related activities of employees. Furthermore, we conduct annual compliance control activities across all departments to identify and assess department-specific risks to manage company-wide compliance risks, and we continuously monitor compliance regulatory trends and key issues. We also conduct systematic compliance education and training programs to ensure that employees can proactively recognize and appropriately address legal risks that may arise during the course of their work. We conduct regular annual inspections, as well as ad hoc and special inspections as needed, to strengthen the effectiveness of our compliance management.
Proactive Management of Legal Risks Related to Labeling and Advertising
Orion has established and operated the Fair Trade Compliance Manual since 2025 to ensure compliance with labeling and advertising laws and regulations. We review the appropriateness of advertisements and promotional materials based on a self-assessment checklist that enables us to proactively identify major legal risks, such as false or exaggerated claims, deceptive advertising, unfair comparisons, and defamatory advertising. Furthermore, we continuously incorporate amendments to relevant laws and regulations as well as review criteria to prevent legal risks, and we are strengthening our compliance risk management system by conducting preliminary reviews of expressions that could potentially mislead consumers.