Fair Trade(C.P.)
We are further increasing our corporate value by operating a compliance program to establish a culture of fair transactions.
Significance of Compliance Program
COMPLIANCE PROGRAM
Fair Trade Compliance Program (CP) means an internal compliance system to allow employees not to violate Fair Trade Act unintentionally, presenting a clear code of conduct for the observance of Fair Trade Act while it is established and operated internally.
Key 8 Factors in Compliance Program
- 01.Prepare and execute standard and procedure for CP
- 02.Announce the will and support of CEO for CP
- 03.Appoint manager responsible for compliance
- 04.Create and use compliance manual
- 05.Execute compliance training on employees
(more than 2 hours/half a year) - 06.Establish internal monitoring system including monitoring and inspection of compliance
- 07.Impose restriction on employees who violated Fair Trade Act
- 08.Evaluate its effectiveness and prepare improvement measure
Operation Stage of Compliance Program
- STEP 01
-
Establishment of execution system
- CEO announced compliance policy.
- Appoint a manager responsible for compliance.
- Establish an internal control system.
- STEP 02
-
Facilitation of compliance
- Compose compliance manual.
- Conduct compliance training.
- Operate internal monitoring system (monitoring/restriction)
- STEP 03
-
Three step: Effective operation of CP
- Manage document systematically.
- Evaluate the outcome of operating CP
- Improve internal procedure and system.
Incentive System on Enterprise Running Compliance Program
| CP | AAA | AA | A |
|---|---|---|---|
| Exempted from ex officio investigation of Fair Trade Commission (FTC) | 2years | 1 year and 6 months | 1year |
| Public announcement of order | Exempted | Public announcement of periodicals : Lower down the both size and no. of issue one level. Public announcement in workplace and electronic medium : The period of announcement is shortened. |
|
Current Operation Status
2 Tabs
- Expression of will for compliance by management
- Hold a ceremony of introducing fair trade CP (with the presence of employees and partner companies)
Host a regular meeting on a conference to strengthen will to practice CP - Designation and appointment of compliance manager
- Role of compliance manager
-
- Intensively manage a CP as a key pillar of the entire CP
- Enhance fair competition awareness on all employees
- Deliver major issues related to fair competition to CEO as an official communication channel with FTC
- Preparation and distribution of compliance manual
- Prepare and distribute compliance manual based on commentaries on related laws and real cases.
- Operation of training program
- Operate training program for each job/position; conduct training at least 4 hours/year
- Systematization of operating compliance monitoring system
- Impose restrictions according to the seriousness of each case after conducting investigation and monitoring on major compliance items
-
- Minor case : Take warning measure by Compliance Sanctions Committee
- Major case : Take action by Personnel Disciplinary Committee
