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Ethical Management

Ethics Policy

  • Article 1 Prohibition on requesting, receiving or providing monetary benefits (including money and valuables, money for congratulation or condolence, gifts, entertainment and hospitality, conveniences and other rewards)

    Article 1 Prohibition on requesting, receiving or providing monetary benefits (including money and valuables, money for congratulation or condolence, gifts, entertainment and hospitality, conveniences and other rewards)

    1. Definitions
    (1) The term "money and goods" means all property interests, such as money, real estate, goods, any vouchers of accommodation, membership, admission, discount and invitation, etc.
    (2) The term "Money for congratulations or condolences " means congratulatory money, condolence money or something of that kind and their equivalent gifts or food, such as wreaths and condolence flowers.
    (3) The term "gift" means all goods except money, food and congratulatory/condolence money.
    (4) The term "entertainment and hospitality" means the act of paying or making someone else paying expenses for food (meal, refreshments, liquor, beverages, etc.), sports (golf, etc.), gambling entertainment, performances, domestic and international tourism, transportation, etc.
    (5) The term "providing other conveniences" means the provision of other tangible and intangible benefits, such as debt exemption, employment benefit, and grant of advantages.
    (6) The term "relatives" means blood relatives within the eighth degree of relationship, Affinity relatives within the fourth degree of relationship, and spouse prescribed in Article 777 (Scope of Relatives) of the Korean Civil Act.
    (7) The term “Ordinary level" for the provision and receipt of monetary benefits means the level that meets the following requirements.
    ① It should be of a level that can be understood with reasonable common sense, be justifiable when disclosed, and not affect the fair processing of business at all nor impose any pressure on each other.
    ② It should be appropriate in terms of not only the amount of money but also the location, purpose, method, frequency, cycle, timing, counterpart, content, social ethics and practices, etc.
    ③ It should have no strings attached, regardless of the amount of money.
    ④ The Improper Solicitation and Graft Act and domestic and international laws are complied, and if there is a conflict in the interpretation of the law, the higher law shall be followed.
    ⑤ An ordinary level may vary depending on the specific circumstance, nature of business, position, etc.

    2. Money and valuables
    (1) Employees and executives must not provide or receive money, etc. to stakeholders in any case, and if it is provided, they must politely refuse or return it.
    (2) If a person receives money or goods without knowing it, he/she should report it through a reporting channel (clean notice, etc.) within three days from the time he/she becomes aware of it and immediately return it.

    3. Family events
    (1) Employees and executives do not receive or provide congratulatory / condolence money exceeding the ordinary level. The term “ordinary level" shall be as defined in Article 1, Paragraph 1 (7) of this guideline.
    (2) The receipt of wreaths, flower pots, etc. related to promotion, funeral, inauguration, etc. shall also be within the ordinary level.
    (3) The Improper Solicitation and Graft Act shall be applied to the related, and the ordinary level of congratulatory/condolence money may be provided only when the legitimate purpose, such as smooth performance of duties, socializing, is recognized.

    4. Gifts
    (1) Employees and executives must not receive any gifts from stakeholders under any circumstances, and if it is provided, they shall politely refuse or return it.
    (2) If a gift is inevitably received without any noticing, it must be reported through the reporting channel (Clean notice) within three days of receiving the gift.
    (3) In the case of a gift reported pursuant to the above (2), it shall be treated as follows.
    ① In the case of a gift that can be returned, such as when there is no fear of loss or deterioration over time, it shall be immediately returned to the relevant stakeholder.
    ② In the case of gifts that cannot be returned, such as cases of loss or deterioration over time, the fact shall be notified after donating to a social welfare facility or a religious organization in the name of the stakeholder who provided the gift.
    (4) Employees and executives may provide gifts not exceeding the ordinary level to stakeholders only for a legitimate purpose, such as smooth performance of their duties and socializing, is recognized. The term “Ordinary level" shall be as defined in Article 1, Paragraph 1 (7) of this Guideline.
    (5) The Improper Solicitation and Graft Act shall be applied to the related, and the ordinary level of congratulatory/condolence gifts may be provided only when the legitimate purpose, such as smooth performance of duties, socializing, is recognized.

    5. Entertainment and hospitality
    (1) Employees and executives do not receive or provide entertainment that exceeds the ordinary level. In the case of meal service, the term “Ordinary level" shall be as defined in Article 1, Paragraph 1 (7) of this guideline. Regarding those subject to the Improper Solicitation and Graft Act, food at the ordinary level may be provided only when the legitimate purpose, such as smooth performance of duties, socializing, is recognized in accordance with the Improper Solicitation and Graft Act.
    (2) Gambling entertainment and hospitality (go-stop, poker, betting golf, casino, horse racing, bicycle racing, boat racing, etc.) are absolutely prohibited regardless of the ordinary level.
    (3) No entertainment shall be received through sports events such as golf, skiing, etc., at which the stakeholder shall pay the expenses, unless it is an official meetings or prior approval by the company.
    (4) Where receiving an entertainment or hospitality above the ordinary level provided by a stakeholder, a report shall be made through the reporting channel (Clean notice) within three days of receiving it, and must take action, such as returning cost, as instructed by the team in charge.

    6. Providing other convenience
    (1) Leasing, buying at a lower price, selling at a higher price
    ① No act shall be accepted by stakeholders to lease assets or provide collateral regardless of amount for the convenience or profit of employees and their relatives.
    ② No profit shall be made by unfairly purchasing movable property or real estate owned by a stakeholder or by selling movable property or real estate owned by an employee or relative at a price higher than the market price from a stakeholder.
    (2) a loan guarantee
    When lending (regardless of the lender and amount), you must not ask for a guarantee or accept a guarantee offer from a stakeholder.
    (3) Borrowing and lending money
    Employees and executives shall not borrow or lend money from interested parties regardless of the amount.
    (4) Guarantee for the future (helping find a job, promising to make a contract, etc.)
    ① Do not require a stakeholder to hire or accept any form of promise after retirement, or accept an offer from a stakeholder, or accept an offer from a stakeholder that guarantees any benefits, such as a transaction agreement after retirement.
    ② Where you receive any offer from a stakeholder to guarantee a job or contract, you must report to the team in charge immediately.

  • Article 2 Prohibition on improver solicitations

  • Aritcle 3 Abuse of Power

  • Article 4 Prevention of Conflicts of Interest

  • Article 5 Falsification of documents and calculations and false reports

  • Article 6 Illegal and unfair use of company assets

  • Article 7 Protection of the Company’s information and document control

  • Article 8 Limitation on payment of compensation for outside lectures, etc.

  • Article 9 Honest international business

  • Article 10 Prohibition of unfair competition and trade

  • Article 11 Realization of Customer Value

  • Article 12 Respect for Executives and Employees

  • Article 13 Creating an organizational culture based on mutual trust and respect

  • Article 14 Commitment to Sustainability

  • Article 15 Management System

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