The board of directors of the Company is selected by the general meeting of shareholders. The board of directors shall exercise the following powers: convening the general meeting of the shareholders and reporting to the meeting, implementing the resolutions passed at the general meeting of the shareholders, determining the operating plan and investing plan of the Compnay, preparing the annual finance budget and the financial account, formulating a plan for distribution of profits, formulating a plan for the increase or decrease of the registered capital of the Company and other power, authority and responsibility specified in Articles of Association of the Company.