Nonghyup RedGinseng Hansamin
complies with its ethical management policy.

Nonghyup RedGinseng Hansamin
complies with its ethical management policy.

Ethical Management

Business Ethics

This generally refers to ethics that CEO and employees have to follow in conducting business activities. In doing business, we consider “ethics” to be our top priority, and set this as standards for all business activities, to ensure transparent, fair, and rational management. Complying with this ethics means that decisions are not made not only based on economic principles, but also on the ethical judgment such as transparent accounting, fair terms and conditions, sincere tax payment, and environmental protection, etc. and that we comply with laws and regulations beyond that which is required.

Why is it needed?

There are many reasons, such as call for social responsibility, emergence of value-seeking shareholders and customers, strengthening of international ethical management efforts, improvement of trust in company and national credibility, but the ultimate purpose is to preserve corporate management by improving corporate value.

Clean Contract System

Nonghyup RedGinseng has implemented a clean contract system that require that employees should pledge not to ask for, receive or promise to take or collide with, for a variety of bribe, gift, entertainment, and hospitability in doing business with third-parties, so as not to make a favorable or unfavorable determination on a specific party. This system asks that employees make a commitment to a clean transaction with third parties, and requires that information on this system is notified before starting a bidding procedure so that the contract manager and the third-party can prepare the “Pledge to a Clean Contract” for an attachment to the business contract. If any third-party violates this Clean Contract System, Nonghyup RedGinseng will take measures such as restriction on bidding, termination of contract, and suspension of transaction.


What is the clean contract system?
It was advocated by the Transparency International in 1993 to eliminate corruption possibly involved in signing a contract. By this, two signing parties are required to pledge not to engage in any corruption in relation to contract.

 

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Practice of Ethical Management

 
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We pledge to do our business in a faithful and rigorous way, in order to realize a reliable culture based on higher integrity and stronger moral values, and to create a business environment without corruption. For this, we will practice the following.
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First,
we will comply with laws, regulations and the Code of Conduct, and do business in a creative and sincere manner.
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Second,
we will never receive any money, gift or entertainment in doing business, and take initiative in eradicating corruption with fairness.
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Third,
we will strive to receive trust and love from customers by pursuing ethical and compliance management based on sound ethical values.
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Fourth,
we will practice anti-corruption and integrity policy, promote customer trust and realize a win-win, ethical management.
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