NC, Director Compensation Cap Reduced from 20 Billion to 15 Billion Won...First Cut Since Establishment

NCSoft, embarking on management efficiency efforts, is set to reduce the director compensation limit for the first time since its founding.

On the 28th, NCSoft announced through a notice of the shareholders' meeting that it will cut the director compensation limit from the existing 20 billion KRW to 15 billion KRW.

The NCSoft board of directors consists of seven members, including inside director (CEO) Kim Taek-jin, co-CEO nominee Park Byung-moo (non-executive director), and outside directors Hwang Chan-hyun, Baek Sang-hoon, Choi Young-joo, Jung Gyo-hwa, and Choi Jae-chun.

At the shareholders' meeting scheduled for the 28th of next month, CEO Kim Taek-jin is expected to be reappointed as an inside director, and co-CEO nominee Park Byung-moo will be newly appointed as an inside director.

Additionally, Lee Jae-ho, former CFO of NCSoft and former CEO of NC West, currently CFO of Osstem Implant, will be newly appointed as an outside director (audit committee member).

An NCSoft official stated regarding the reduction of the director compensation limit, "We comprehensively considered the highly volatile internal and external management environment as well as the company-wide management and cost efficiency policies."