Dividend Policy and Payments

Dividend Policy Of Subsidiaries

Payment of dividend of the subsidiaries are approved by the Board of Directors and/or shareholders’ meeting of each company taking into account performance, financial liquidity, cash flow, financial status, necessary revolving fund for business management and expansion, economic condition and other factors as considered appropriate by the Board of Directors and/or shareholders’ meeting.

Upon the dividend payment of each subsidiary, to comply with corporate governance, transparency and verifiability, the representative of the Company who is director in the subsidiary will make a report on the dividend payment to the following Company’s meeting.

To ensure that the dividend payment of each subsidiary complies with the corporate governance and the principle of transparency and verifiability, the Company’s representative in each subsidiary will make a report on the dividend payment to the upcoming meeting of the Company’s Board of Directors after the dividend payment.