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Fair Trade

  • Compliance Program
  • Practices
  • Compliance Rate Manual
  • Compliance Organization
Home Sustainability Fair Trade

Compliance Program(CP)

A law-abiding system operated by the company to comply with laws and regulations related to fair trade. This norm is designed to prevent law violation by presenting a clear standard of conduct for employees to comply with competition laws, detect violations early, and prepare countermeasures.
  • About CP
  • CP Vision, Strategy and Mission
  • CP Obligations/Duties of the Compliance Manger

About CP

Overview
A law-abiding system operated by the company to comply with laws related to fair trade.
Necessity of Introducing the CP

Changing to management philosophy on fair competition

Preventing loss to the company due to law violation in advance

Improving internal and external reputation

Minimizing damage caused by law violations

Seven Key Elements of the CP

Executive's commitment to compliance

Designating and operating the compliance officer

Creating and distributing the compliance manual

Implementing training programs

Establishing the monitoring policy

Sanctions against the employee who violated the laws related to fair trade

Developing a document management system

CP Vision, Strategy and Mission

Growing into the global leader of CP and laying the growth foundation
for another century by complying with global standards

CP Global Leader

Strategy

01
Nurturing responsible experts by BG

02
Increasing systematic and differentiated training

03
Increasing advance/post-
monitoring

04
Increasing the award level of excellent CP activities

05
Spreading the CP
(Partners)

06
Updating the CP manual regularly

Mission
  • Presenting clear
    standards of behavior

  • Early prevention
    of law violations

  • Preventing damage
    to the corporate image

CP Obligations/Duties

Prohibiting abuse of the dominant market position
(1) Deciding, keeping, or changing the product price and service charge unfairly
(2) Unfair adjustment of product sales and service provision
(3) Unfair interference with other service providers’ activities
(4) Unfair intervention in new competitor's participation
(5) Transaction to exclude competitors unfairly, seriously harming consumer interests
Unfair prohibition of common action

Prohibiting the following acts that unfairly restrict competition in cooperation with other service providers

(1) Determining, keeping, and changing the price
(2) Determination of product and service transaction conditions and payment conditions
(3) Restricting product manufacturing, shipping-out, transport, or transaction or restricting the service transaction
(4) Restricting the trading area and counterpart
(5) Interfering in or restricting new equipment introduction or equipment increase
(6) Restricting the type and specification of the product
(7) Founding a company to perform or manage the key part of business
(8) Restricting competition in a certain trading area by interfering in or restricting the business activities/details of other service providers
Prohibition of unfair trade practices
(1) Unfair rejection of transaction or discriminatory treatment of the counterpart
(2) Unfair exclusion of the competitor
(3) Unfairly attracting or forcing a competitor's customer to transact business
(4) Transacting with the counterpart using own trading position unfairly
(5) Transaction conditions that improperly restrict the counterpart's business activities or interfere with the business activity of other service providers
(6) Providing provisional payment, loan, human resource, real estate, or intangible property rights to an affiliate person or other company unfairly and supporting them by trading on advantageous terms
(7) Any other acts that may hinder fair trade
Prohibiting resale price maintenance
Prohibiting acts wherein the service provider determines the price of the counterpart or the service provider of the next transaction phase when trading a product or a service and forces them to sell or provide at the determined price, applying a protocol or other constraints for this purpose
Complying the subcontract law
  • Contract conclusion
    (1) Document issuance and document preservation obligation
    (2) Prohibiting unfair subcontract payment determination
  • Transaction execution
    (1) Prohibiting unfair order cancellation
    (2) Prohibiting the forced purchase of goods and others
    (3) Obligation of opening a domestic L/C
    (4) Inspection and inspection result notification obligation
    (5) Prohibiting the unfair returning of goods
    (6) Prohibiting unfair price reduction
    (7) Prohibition of request for technical data provision
    (8) Sanctions against the employee who violated the laws related to fair trade
    (9) Developing a document management system
  • Payment
    (1) Liability to pay refund, including customs duties
    (2) Liability to make subcontract paymentLiability to pay a bill discount feeLiability to pay an interest for arrearsObligation of maintaining the expiration date of the promissory noteObligation of maintaining the cash payment rateAdjustment and payment according to design changeNotifying the adjustment details according to design changeAdjustment according to raw material price change
    (3) Prohibiting unfair payment in substitutes
    (4) Prohibiting an unfair payment request

Duties of the Compliance Manager

Overall Control over CP Operation
Prohibiting the imposition of disadvantage in performance appraisal on the compliance manager
(objectivity and independence)
  • Authority

    Checking/Inspecting the actual compliance statusRequesting to improve/correct law violationsRequesting data and information for job performanceAuthority recognized by the board of directors or the CEO

  • Obligation

    Fiduciary dutyEfficient management of fair trade compliance

  • Operating a Reward
    and Punishment Committee

    Setting the basic compliance policyReviewing important matters, recommending/advising on necessary actionsSanctions against the employee who violated related laws

Duty

Operating the compliance programCompliance planningAuditing the actual compliance statusSubmitting the audit result to the personnel committee, requesting correctionRequesting the improvement/correction of law violationsCompliance program training(more than 2 hours per year)

Creating and distribution a CP manual that fits the organization and characteristicsEnacting/Operating the code of conduct for complianceRecording/Keeping the compliance activity resultsReporting the plan and status to the CEOCooperation and support for competition control authority

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