Dear fellow Namyang family!
Since 2006, we have been implementing ethical standards for all transactions with our company in order to improve the soundness and transparency of our business and escape from bad practices to upgrade our company to a new stage. From 2013, "Namyang's Ethics Regulations" is enacted as an ethical standard for decision-making and actions when conducting business.
Corruption is the root of a corrupt society that leads to low productivity, low efficiency, low quality, and low safety, which is a hindrance toward a developed society and could deteriorate global standard and competitiveness. Thus, severance from corruption is indeed an act of patriotism and loyalty to our country.
Therefore, ethical management is a guideline for all employees to make a legitimate, transparent, and rational judgment so that we could be a company that is trusted by our customers and society and is good for all employees deviated from all the wrong practices, mistakes, and corruption from the past.
All employees should be aware of and form consensus about the importance of ethics management so that it could be the cornerstone toward a good and trustworthy company by practicing ethics management in daily business. It is imperative for all employees to take the initiative and stand firm to practice ethics management so that it does not end up being a temporary campaign.
All employees should actively engage in and practice ethics management so that we could once again make a new leap and transform ourselves. It is truly hoped that "ethics management for sustainable management" can be the core business strategy for Namyang and become a guideline of the behavior and thought of all Namyang family.
January 2016
Jinsoo Hong, CEO of Namyang International
Purpose of the Code of Ethics Requests from CEO
In order for the company to survive the infinite competition and achieve its management goals, all tasks should be carried out on the basis of legitimacy and justice. To this end, we should prioritize i) price competitiveness, ii) reasonable quality, and iii) meeting deadlines when we conduct our business.
Therefore, in accordance with the Code of Ethics declared in 2006 and 2013 (Code of Ethics for all employees of Namyang International), ethical guidelines that all employees of Namyang should comply with will be introduced. All employees of Namyang should comply with these guidelines to conduct business with all stakeholders and suppliers and use them as a basis for decisions and actions.
What we need to practice
- Prohibition of accepting bribery and money transactions
- Namyang's employees must not accept any bribery in any cases.
(Bribery means any money and goods that are received without just cause such as cash, checks, securities, gift certificates, membership (golf, health club, etc.), airline tickets, gas voucher, or goods)
- Namyang's employees must not engage in any monetary transactions including borrowing and lending money, paying credit card bills, or guaranteeing a payment.
- No entertainment and cost transfer
- Namyang's employees must receive entertainment, hospitality, or convenience of any kind.
- Namyang's employees must not claim costs incurred when traveling with stakeholders.
- Namyang's employees must not make a bet with stakeholders (golf, card game, poker, etc.).
- Namyang's employees shall dine with stakeholders within expenses that are reasonably accepted.
- Namyang's employees must not make stakeholders pay for their meal.
- Namyang's employees must not receive goods or make stakeholders pay for their company events.
- Namyang's employees shall avoid meal time when they meet their customers (except for buyers) as much as possible.
- Prohibition of unfair solicitation and contracting
- Namyang's employees must not exercise any unjustifiable request or pressure.
- Namyang's employees must not require or provide any dual contract other than the official one.
- Information utilization
- Namyang's employees must not use any of the information they know in the course of their business for personal benefit.
- Namyang's employees must not reveal the company's confidential information to others.
- Job performance
- Namyang's employees must not engage in any form of unfair activities that use their superior position.
- Namyang's employees must not engage in any unreasonable transactions when purchasing goods (purchase of raw or subsidiary materials) such as reward, demands for profits, or dual contracts.
- Namyang's employees must not demand any profits for purchasing goods or services while conducting their business.
- Namyang's employees must be courteous and polite when performing their work.
