Description and goal
The Compliance Program (CP) is a series of internally administered programs and systems, such as monitoring, training, and supervisory sanctions, for the company to voluntarily comply with fair trade laws and regulations. We aim to realize responsible management by preventing losses resulting from law violations in advance, fostering a desirable culture of competition and fair trade, and adhering to our responsibilities in the area of business ethics.
Hyosung Chemical adopted the Code of Practice (CP), introduced by Hyosung Corp. in September 2006, which was inherited upon the organizational split in June 2018. The company updates the Fair Trade Voluntary Compliance Handbook annually to provide guidelines for employees regarding program operations. Through CP operations, the company aims to prevent risks associated with legal violations in advance, establish a culture of compliance and ethical management among employees, and strive to become an exemplary company that adheres to fair trade.
CP organization and CP manager
The Legal Compliance Team is responsible for the daily operation of the CP and strives to minimize related risks through activities such as familiarizing all employees with the program's operating guidelines, fair trade training, and monitoring. The compliance assistants appointed by the Board of Directors operates the CP, directly reports significant issues to the board and top management, and reports on a regular basis to the board and top management.
Compliance Program Handbook