“We: share our ‘management policy’ established by the executives under the ‘corporate philosophy’ sought for by the company; respect the order of free competition and the principle of fair competition; enhance our corporate value therough management activities in compliance with all the local and national laws and regulations; and seek for common prosperit with all the interest groups and stakeholders.”
(1) The term of ‘sharing its ‘management policy’ established by the executives under the ‘corporate philosophy’ sought for by the company’ means that the company must clearly establish its purpose and goals to be sought for by it and deliver its expectations of the company and its executives from its employees so that the predictability of businesses will be enhanced. This shows that, in carrying out its busiensses and making its decisions, the company maintains a ‘procedural justice’ to secure transparancy of management and puts emphasis on corporate responsibilities of the company as a social existence in its value and
(2) The term of ‘respecting the order of free competition and the principle of fair competition’ means to accept marke principles of free competition through fair and transparent competition sought for in the world ecomomy and make a fair competition with rivals in domestic and overseas market as a principle of its business.
(3) The term of ‘corporate activities in compliance with all the laws and regulations’ means to comply with all the laws, regulations, ordinances and international norms of all the countries and local societies where the company engages in its businesses, respect for the spirit thereof and transactional practices and carry out corporate activities in a rightful manner.
(4) The term of ‘enhancement of corporate value’ means that the company, as social existence, must efficiently operate the resources owned by it and enhance its value so that the company will be able to have the ‘legitimacy and legality’ to exist in the society.
(5) The term of ‘seeking for common prosperity with all the interest groups and stakeholders’ means that, with the wealth and value generated by it, the company carries out a ‘social function’ for enhancing the welfare of all the interest groups and stakeholders (including customers, shareholsers and investors, employees, partners, local community and government), which have conflicting expectations, needs and desires and constitute the company, and all the employees of the company faithfuly play these roles in making their decisions and carrying out their activities so that the company will: have ethical competititiveness; be prosper along with the interest groups and stakeholders based on mutual trust and cooperation; and be able to maintain corporate continuity of the company, a complex system consisting of its interest groups and stakeholders.
(1) The ‘ standard of rightful value judgment and the principle of action’ means that the corporate philosophy and ethical norms established by the company must become a ‘principle’ of all the decision making and action to be sympathized with all the employees including its CEO and be carried out related to the corporate act of the company, which shows that those standards and principle are a kind of ‘noble value’ not to be damaged or compromised at any time.
(2) The ‘establishment of ethical norms’ is to set a standard for the way to do rightful acts and suggest roles and responsibilities of the company and its employees to the interest groups and stakeholders. Those ethical norms will become the principle of decision making and action of the company and its employees and, in carrying out their daily duties under such norms, all the employees will form a corporate culture and gain a strong ethical reputation.
(3) The ‘promise and pledge to actively practice’ means that the ethical norms of the company will never end with slogan or declaration, but there are ‘obligations and responsibilities’ to be practiced without fail as a matter of pledge made by the company and its employees to the interest groups, stakeholders and society. For this, the company must establish and operate a ‘implementation system,’ and the employees’ practice of that pledge is a condition to their continuing employment.
‘Ethical norms’ are a matter of practice for accomplishing a corporate philosophy, suggest ‘how the rightful things are to be carried out’ and enumerate detailed standards of behavior under basic spirit and principle to be complied with by the company and its employees to the interest groups and stakeholders.
1. Roles and Responsibilities to Customers
– We put the customer satisfaction and customer trust at the top of our value.
(1) We respect human dignity all the humans have regardless of the transactions with us. ‘Human dignity’ means that each individual has a value and divineness as a ‘human is not a means for satisfying many people’s right or others’ goal but an end. In making any decision and taking an action to all the many and unspecified persons, we must always take into account of the factor of human dignity.
(2) This is our proposition that ‘ a company exists for providing its customers with a value satisfiable to the customers.’ It must be a value and goal pursued by us that we make our best effort in providing the best products and services desired and satisfied by the customers.
(3) We must give our customers a faith that ‘we exist only for the customers,’ and we earn customers’ trust through this and out future depends on this. In addition, we serve various customers in the market, and we must understand and respect for the culture, custom, tradition and values owned by the customers.
(4) The company must comply with the laws and regulations on the protection of customer information and continue to inspect and improve the work process for protecting customer information including adoption of preliminary impact evaluation system of customer information at the stage of product development.
(5) Unless otherwise consented by the customer or permitted by the laws, the company does not use for other purposes than the one for which customer information is provided or provide to a 3rd party its customer information.
2. Company’s Roles and Responsibilities to the Employees
– We respect the human dignity of each individual members of the company and make our best effort in improving the quality of their lives.
(1) Each individual employee of the company has a ‘dignity as a human,’ and he or she is the most important asset of the company. In addition, a fierce survival competition without border takes place in world market, and the world is the business field of our company. So, this means that we respect for the human dignity of our employees and do not discrimination in securing personnel resources based on their sex, educational background, region of origin, religion, race, nationality, and disability.
(2) The company must create a workplace environment where the employees can work autonomically and freely show their creativity, provide safe and pleasant working condition where they can fulfill their duties at ease, actively support them for cultivating talented employees, establish and operate education/training system and personnel management system under which the company fairly treat and compensate them based on their ability and performance.
(3) The wealth created by the company is the outcome which is earned from the effort made with the employees. In addition, the employee’s leading a comfortable and rich family life is directly related to the work competency. This means that the company must make its best effort in operating a welfare and benefit system under which its employees and their family can enjoy a decent cultural life.
3. Roles and Responsibilities to Partners
– We seek for common development with our partners based on mutual trust.
(1) The competitiveness of partners is the very competitiveness of us. It leads to our competitiveness that we discover and cultivate competitive partners and, in selecting our partners, we need to give them fair opportunities, cooperate with and support for them in having competitiveness.
(2) This means that the company needs to recognize its partners as a ‘ companion to work and live together for mutual benefit’ rather than just an account supplying products or services and puts its best efforts in forming cooperative relationship with them based on mutual ‘trust.’
(3) In doing business with the partners, the company shall establish and operate a fair and transparent trading process, maintain stable and long-term business relations, accept and respect their justifiable request and opinion.
4. Fair Competition with Rival Companies
– We respect the principle of free competition and take the initiative in sound industrial development.
(1) Fair and transparent competition is a flow of world economy. Fair competition can improve the quality of products and services, satisfy customers best and enhance overall national wealth.
(2) The company does not collude with rival companies in production, pricing, bidding, and market share or consult with them about the price, bidding, customers, sales region and sales conditions for the purpose of collusion.
(3) This means that the company makes its best effort in establishing a competition order for enhancing the efficiency and economic feasibility of market function in its competition with rival companies and puts its best efforts in securing competitive advantage through legitimate way.
5. Roles and Responsibilities for Nation and Society
– We actively make a contribution to sound development of nation and society and environmental protection.
(1) A company must grow ‘in harmony with the society’ as an important entity constituting a society. This means that the company must comply with all the laws and regulations as a corporate citizen in all regions where it engages in its businesses and perform its obligations and responsibilities as requested by the society.
(2) The company must grow as a sound one by efficiently operating the technologies, incormation, knowledge, personnel and resources owned by it and make a contribution to sound development and welfare enhancement in all the regions where it engages in its businesses.
(3) The company puts its best efforts in complying with international standards, applicable laws and regulations and internal rules on environmental protection.
(4) The company actively participates in environment improvement activities through minimization of harmful substances generation, efficient use of resources and recycling of wasted products.
(5) The company puts its best efforts in protecting environment in its all business activities including development, production, distribution, sales and disposal of its products.
6. Employees’ Roles and Responsibilities to the company
– We sympathize with the corporate philosophy sought by the company and fullfil our roles and responsibilities.
(1) If each of all the employees actively puts his or her best effort in sympathizing and realizing the ‘corporate philosophy’ sought by the company, the ‘corporate spirit’ will be established and ‘ethical corporate culture’ will be formed so that the company will have a strong competitiveness.
(2) The employees must keep in mind that the company will gain good reputation and the future of company will be decided by the decision making of and action taken by each employee every day. Thus, in carrying out his or her duties, the employee must cleary recognize his or her role, authority, responsibility and obligation accompanied with those duties and ‘properly behave’ based on his or her sound judgment in the principle of honesty, faithfulness, fairness and transparency.
(3) We must put our best effort in having ability to recognize and cope with the flow of changes from a global perspective. Thus, in completing their missions, all the employees must not only comply with all the laws and regulations inclduing international norms, the regulations and system of the company but also recognize, respect and comply with the rules, ethical code and control system of the opposite party in domestic and overseas transactions.
Email: jhseo@keoc.kr / Seo, Jang-hoon, Senior manager
Tel.: +82 32-680-6188
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