The board of First Financial Holding is comprised of 15 directors and 5 supervisors. They serve for a three-year term and are eligible for re-election. Of the incumbent board, 12 out of the 15 directors and 3 out of the 5 supervisors represent the Government's shareholdings. Selected by the Governmental Share Ownership Management Committee of the Ministry of Finance, these delegates are high-level officials and professors of national universities who have proven expertise in their respective fields of banking, securities, auditing and information technology, and achieve prominence in their professional activities. An evaluation of their ability to discharge their duties adequately and exercise independent judgment is regularly conducted by Governmental Share Ownership Management Committee.

The board of directors convenes every month to approve financial and other reporting, discuss the management's performance, monitor the internal compliance and control system, and review the development of corporate strategies and performance objectives, which reflect changes in the competitive environment. Meetings of the board of directors shall be convened by the chairman of the board of directors in principal. Unless otherwise provided for in the Company Charter, resolutions of the board of directors shall be passed by one-half of the directors at a meeting attended by one-half of the directors.