Business Ethics

Chapter 1 Basic Ethics for Employees

• The company treats customers and individual employees as a dignified person, and respects the basic human rights of all people without unreasonable discrimination based on race, nationality, gender, religion, educational background, age, marital status, disability, etc.

• The company shall not employ minors under the minimum age of employment permitted by international standards and by country without due process.

• Set working hours for executives and employees in compliance with work characteristics and related laws, but do not force to work overtime without mutual consent.

• Labor and movement of job by free will is guaranteed, and imposition of forced labor by mentalor physical restraint is prohibited.

• The superior shall not give unreasonable instructions to subordinates to perform work that violates company regulations and processes or is unrelated to company and work, and shall not force to work involuntarily by mental or physical coercion.

Chapter 2 Ethics for Competitors and Suppliers

• Employees shall comply with all laws and regulations and commercial customs of all regions in Korea and abroad where they conduct business activities.

• Employees shall pursue fair competition with competitors, respect the market economic order, and pursue sustainable growth and development of the company through continuous change and innovation activities.

• Employees shall provide fair opportunities to business partners, conduct business fairly, and pursue common development under reasonable conditions.

• Employees shall not engage in any fraudulent acts that impede fair business relationships, such as receiving money, valuables, entertainment, and shares from external suppliers, or using positions and duties to cause harm

• Employees shall refrain from obtaining a competitor's confidentiality through procedures without mutual agreement or through illegal means.

• Employees shall not force customers or business partners to take actions that are disadvantageous to competitors.

Chapter 3 Responsibilities on Employees and Clean Organizational Culture

• Employees shall share the company vision and core values, fulfill their responsibilities, and pursue personal and company development through continuous self-development.

• Based on high ethical values, employees shall comply with all laws and regulations, along with strictly separating public and private matters, and conduct business in a sincere and fair manner.

• Intellectual property and confidential information inside the company shall not be leaked to the outside without appropriate prior permission or procedures.

• Employees shall not engage in any word or behavior causing mutual discomfort or damage between superiors and subordinates, such as sexual harassment, disobedience, violence, and coercion in acts that impose personal burdens.

• Employees shall not create incongruity or undermine a healthy organizational culture by forming a faction or private organization based on personal or academic affiliation.

• Employees shall develop corporate culture by respecting each other's personality, trusting, understanding, and obtaining all information transparently along with record, protecting important information and sharing useful information.

• The company shall actively support employees to foster them as professional talents, and create conditions to become creative and promoted.

• The company shall strive to improve the quality of life by creating a work environment where employees can work comfortably, safely, and achieve pride through job performance.

Chapter 4 Ethics for Shareholders and Investors

• The company shall protect the rights of shareholders, and respect legitimate requests or suggestions by shareholders, and faithfully disclose management information to build mutual trust relationship with shareholders and investors and strive to maximize shareholders’ profit.

• The company shall treat all shareholders, including minority shareholders, fairly and equally. By always considering the entire shareholders’ interest, the company shall ensure that the interests or rights of minority shareholders not to be unreasonably infringed when making business decisions.

• The Company shall record and manage accounting data in accordance with Generally Accepted Accounting Principles (GAAP) to provide transparent financial status and management performance. It shall also provide accurate and timely management information in accordance with relevant laws so that investors and shareholders can make ration investment decisions

Chapter 5 Ethics for Customers

• Employees shall recognize customers as the reason for existence. We must respect our customer, always think from customer’s point of view and pursue customer value as the top priority.

• Employees shall provide the best products and services that meet customer’s need and expectation, and shall respond quickly and accurately to customer opinions or legitimate requests.

• Employees shall protect customers' property and information, and shall accurately, promptly provide information that customers need to know.

Chapter 6 Setting Value on Environment, Safety and Health

• Pursue environmentally friendly management by dedicating best efforts to comply with international standards, relevant laws, internal regulations regarding environmental protection.

• Comply with international standards, relevant laws, internal regulations regarding safety and health of employees such as conducting safety education training to employees regularly.

• Provide customers with clear information on safe use and management method of the product.

• Practice hygiene and comply with safety regulations within the workplace, and immediately take appropriate measures when risk factors are identified within the workplace.

Chapter 7 Ethics for State and Society

• Employees shall contribute to the development of the State and Society through rational and responsible management, and actively carry out Corporate Social Responsibility activities as members of the community.

• The company shall endeavor to create stable employment, and fully commit to its duty to pay taxes.

• Employees shall comply with the rules and regulations of International Treaty when performing international trade, respect the local cultures, and contribute to the economic growth of local countries.

• Business partners (Cooperative firms) are also strongly encouraged to comply with the relevant laws such as labor, ethics and environmental safety to carry out Corporate Social Responsibility such as safety at workplaces and respect for human rights of employees.

Chapter 8 Additional Clauses

• The CEO may establish and operate an Ethics Management Committee for the establishment of ethical management and the smooth implementation of the Code of Ethics, and the detailed matters regarding the operation of the Ethics Management Committee shall be separately determined within the business standards.

• The CEO shall separately determine detailed matters regarding the operation of the Code of Ethics in the Code of Conduct in order to comply with the Code and maintaining integrity of employees.

Supplementary Provision

This Code of Ethics is enforced from January 1, 2021.