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  • Code of Ethics

Code of Ethics

Guidelines for Employee Ethical Standards
  • 1. Guidelines for accepting money/valuables and treats

    (1) Employees should decline money/valuables, treats and convenience from cooperative companies.

    (2) Employees must report to the General Affairs Team when they receive money/valuables, treats and financial convenience in unavoidable connections from parties of interest or cooperative companies.

  • 2. Accepting money, presents or otherwise

    (1) Cases to report - Upon acquisition of money, presents or otherwise with a value of over one hundred thousand won (100,000 KRW), employees must report the event, and subsequently return them according to the report procedures hereunder. Items acquired with a value under or equal to one hundred thousand won (100,000 KRW) may be returned without undergoing the report procedure.

    (2) Cases of exception - Cases which are accepted by social standards hereunder are not regarded as items which go against the Code of Ethics 1) Souvenirs, expenditures for congratulations/condolences and presents which are provided spontaneously 2) Money/valuables provided to aid employees suffering from health problems or other related unpredictable situations. 3) Wreaths accepted by parties of interest or cooperative companies for celebration of a promotion, inauguration etc.

    (3) Procedures for reporting and management - Reporting and management of money and valuables unavoidably received is detailed as follows: 1) Reporting to the General Affairs Team via phone call, e-mail and the KSQ-3702 form, General Affairs Team shall then handle the report accordingly. 2) When returned in person, the reporter should provide copies of a credit slip, return invoice etc. 3) Employees must return cash, checks, gift cards, etc. 4) Employees shall request that the General Affairs Team to handle the issue under instruction from the Chief Ethics Officer under the following conditions: when the goods may rot, deteriorate or become broken, when identification of the provider of goods cannot be made and when the goods are too valuable to donate to an external organizations. Employees must discard the good when rotting or deterioration begins and report to the General Affairs Team.

  • 3. No special treats

    (1) Providing or accepting special treats from interested parties and cooperative companies which go beyond conventional levels.

    (2) Procedures for handling - When it is unavoidable to provide or accept certain treats, the issue should be handled as follows: 1) The employee directly involved who has got an offer of providing or accepting special treats shall report to and obtain approval from a higher member of staff, either a team leader or a higher member. 2) In the case that treats are of a level higher than that deemed socially acceptable, the employee should not become involved with the situation.

  • 4.Convenience

    (1) Convenience entails when parties of interest or cooperative companies provide individual expenses such as travel expenses, accommodation, leave support etc. However, convenience may be accepted when parties of interest or cooperative companies provide convenience for their own events or celebrations.

    (2) Report procedures When employees cannot repay after receiving convenience of transport costs or accommodation, they should first gain approval with a credit slip from a team leader or higher member of staff then remit the cost to the provider and report to the General Affairs Team.

  • 5.Other Ethical Issues

    (1) Prohibition of breach of intellectual property rights of others 1) The company shall not use pirated software programs belonging to third parties 2) The company shall not breach intellectual property rights (copyright etc.) of third parties with regard to the business of the company

    (2) Mutual respect of employees 1) The company shall not discriminate the employees based on their background including school, region of origin, family, gender, religion, age, disabilities, marital status, nationality and/or race. 2) Employees shall not offer money or make inappropriate requests (borrowing of money, guarantee of loans, etc.) to colleagues which go beyond conventional levels

    (3) Prohibition of improper activities for parties of interest or cooperative companies 1) Employees shall not make unfair deals by abusing their prominent position 2) The employees shall not abuse authority unfairly for purpose of personal benefits. 3) The employees shall not demand personal benefits for future or accept offer for benefits. 4) The employees shall not acquire stock or equity of companies which have a stake in and related with their work. 5) Employees shall not accept work for a company which a party of interest has employees (advisors, consultants etc.)