Our corporate ethos is ‘the promise’ to observe the rules and the institutions that the company has established. At the moment that we do not observe those seemingly unimportant, it might well damage trust between employees and customers and deteriorate corporate competitiveness. Failure to maintain the Code of Ethics means infringement upon the corporate ethos, and hence we must keep ‘the promise’ even if it is hard.
‘Corporate Ethics to practice in the company’
1. Discipline at work
- If you need to go out during working hours, you should get approval and report to your supervisor in advance.
- You are not allowed to do non-work like online shopping or stock investment during working hours.
- You should not act in any violation of order such as by drinking or gambling among employees.
- Monetary dealings between employees should be avoided due to the risk of collapse in the atmosphere of the organization.
- Dual employment and side jobs are prohibited in principle and work-related information should not be leaked.
- You should not affiliate in an informal meeting except for volunteer groups or clubs because it foments factionalism and a sense of incongruity within the organization.
2. Unethical words/ deeds and harassment
- Unethical behavior, like discrimination or insulting comments, are not allowed.
- You should not spread pictures, obscene sites, sexual metaphors or lewd jokes.
- You must refrain from discomforting words and deeds or sexual jokes about someone’s appearance.
- You should not make unnecessary physical contact or force others to serve liquor at meals or picnics.
- Supervisors and managers should set an ethical example for subordinates.
3. Gifts, Bribery and Hosting for Entertainment
[Understanding of concepts]
- In principle, employees shall not be giving or taking money and valuables to each other in relation to their duties.
- Giving a gift to someone who is promoted or is inaugurated by collecting money from team members should be avoided.
- Superiors are never provided any money, goods, entertainment or advantages on special occasions like holidays or anniversaries.
- We must refrain from this, as buying a present from business trips is also unethical.
- Gifts and Bribes : Anything in which implicit compensation is followed and whether there is quid pro quo or not is not a gift but a bribe.
- Money and Valuables : to offer or receive meals, drinking, sports, performance or entertainment obtained by cash, securities, supplies or other economic benefits.
- Convenience : the support for only transportation, accommodation, tourist information, events and so on except financial gifts and entertainment.
4. Corporate Assets and Privacy
- Corporate assets refer to everything that you use such as money, information, equipment, land, buildings, etc.
- It is an ethical violation to use the assets held by the company for private-purposes other than business.
- You should not use or sell the real estate and various instruments of the company without permission.
- To incur the cost of golf or entertainment spots irrelevant to the job on a corporate credit card is to embezzle public funds.
- The following are also ethical violations; taking office supplies home, making personal phone calls or overusing the internet.
- It is not allowable to receive public money like the funds from sales and other fees into private accounts or cash.
- When exceeding the budget for events or dining, raising public money from manipulating documents is illegal.
- Funds from the departments and prizes for groups shall be clearly managed with a joint account.
- The company bulletin board must not be used in order to promote the business of family and friends.
- You should not leak or divulge sensitive information obtained from the projects of the company.
- You should not respond when retired colleagues and friends request inside information, personnel information or managerial information.
- If public agencies ask for managerial information or personnel information, these must not be divulged without prior approval.
‘Corporate Ethics with partners (clients)’
1. Diffusion of Corporate Ethics and Family Events
- The observance of corporate ethics has to be promoted to the employees of partners moreover, they should be led to participation in it.
- It is strongly prohibited to send partners invitations for celebration and mourning events.
- Any money received for these events must be returned immediately or it can affect the fairness of work performed.
- It is contrary to corporate ethics to inform partners of the events of your supervisors.
2. Gifts and Bribery
- If partners or customers provide money or goods as a token of gratitude, you must reject them since it may be misused.
- It is also a violation of the code of ethics to accept gift certificates or money from partners which your supervisors hand out, because it is actual bribery.
- You should not send or receive money or valuables to partners directly or indirectly in ways such as GoStop which is the Korean flower card game.
- You should refuse gift certificates for travel packages or the offer to go on a trip with a member of partners.
- Accepting entertainment or money is bribery under the conditions of construction and contract.
- If partners ask for your home address or the phone number of your supervisors or coworkers, you must refuse politely./dd>
- You should not receive high-priced souvenirs or promotional items from partners.
- You should not give or take holiday gifts like fruit or agri-livestock products to partners or clients.
- When visiting partners, you will not be supported by any money for nominal transportation.
3. Hospitality for Entertainment and Sponsorship
- ‘Free meals’ with partners is implemented in the usual range (less than 30,000) with prior approval.
- The expense for business with partners charges the company.
- Do not have a private meeting with them if possible because employees of partners are public stakeholders.
- When they suggest a gastropub or an entertainment spot, you must decline politely and not go with them.
- You must not respond to golf hospitality of partners, golf travel at home and abroad is also an ethics violation.
- You must not support any sponsorship from partners at events such as sports competitions or climbing.
4. Selection of Partners and Fair Trade
- As private contract with enterprises may cause controversial preference, we apply a competitive bidding system.
- If partners have committed an offense like bribery, you should consult with them about a halt in trading.
- You should avoid as much as possible deals with companies that your relatives or friends run.
It is reasonable to change partners in accordance with the normal procedures, because asking to set a price as low as another company among existing suppliers is unethical behavior.
- You must refuse to work as an employee of partners due to violation of fair trade.
- Supervisors are not allowed to pressure their employees to deal with their relatives, which is also contrary to corporate ethics.
5. Holding Stake and Stock Investment
- Owing to being able to damage fairness, equity investment in a company spun off from unlisted partners or companies is banned.
- You should avoid investing in stocks of listed partners to have business relationships on account of a problem in corporate ethics.
- Do not acquire information with partners listed in advance and do not buy stocks.
- Never purchase real estate or membership through a co-fund with a partner’s employee.
6. Monetary Transactions
- You should not make any financial transactions with officials of partners or clients.
- You are not allowed to borrow money from them or provide a mortgage for partners’ employees.
- You also may not act as surety on a loan or receive loan guarantees for partners or clients.
‘Corporate Ethics to Strengthen with Parties of Interest’
1. Outside Lecture Requests
- When requesting a lecture from outside, you must obtain a lecture through the company’s previous permission.
- You must not have lectures at other companies on topics such as the company’s investment, technology development, future plans, etc. Receiving payments for lectures corresponds to external activities registered as an instructor for certain groups.
- Thus you should not do it without the company’s approval
2. Corporate Ethics for Parties of Interest
- You must not give or take cash, gift certificates or souvenirs from government officials regardless of the amount.
- You should not ask anything to parties of interest promising compensation as well.
3. Details Unmentioned in the Guidelines
- In regard to details not mentioned in these guidelines, you should decide by your ethical judgment or by inquiring of your supervisors.