We strive for transparent and fair trading practices and a culture of self-compliance.
Compliance Program (CP), consisted of code of conducts and internal policy decisions to meet fair competition laws and regulations contributes to control over legal, financial, operational risk or reputational damage.
Benefits of Compliance Program
Prevents losses and damages
Compliance prevents penalty, reputational damage, civil and criminal liability resulting out of or relating to the fair competition law violations.
Enhances positive reputation
Compliance increases awareness of compliance issues among shareholders, employees and partners, and enhances a positive reputation of transparent and fair company.
Reduces potential liability
Compliance reduces a chance of fine, investigation and other law enforcement imposed by regulatory authorities.
7-Element of Compliance Program
Element of CP
CEO’s Commitment to Compliance Policy
CEO shall hold a compliance policy declaration ceremony or declare his/her will of compliance, in writing (including e-document) to all employees.
Compliance Officer shall be appointed by the Board of Directors and his/her appointment shall be notified to all employees.
Compliance Handbook, published under the supervision of a Compliance Officer shall be distributed to employees whose duties are vulnerable to fair competition law violation.
Compliance Training Program
Training Programs (including online training) for preventing non-compliances shall be given to employees whose duties are vulnerable to fair competition law violation.
Internal Monitoring System
Compliance Officer shall give the Board of Directors plans (and results) of internal compliance monitoring, audit and investigation, in a regular manner.
Penalties for Noncompliance
By law shall stipulate (and execute) such disciplinary measures and penalties for employees that correspond with one’s breach of Compliance Program and/or fair competition laws.
Documentation & Record Keeping System
Compliance Program activities shall be recorded and maintained in a systematic way.
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