The purpose of these regulations is to secure fairness in business handling, and to maintain and promote transparent business relationships by managing and handling gifts that the Company’s executives/employees can’t help but receive during or in relation to business at the company level.
A gift is any product with a total market value of more than KRW 30,000 that a Company executive/employee receives from a supplier or stakeholder, and the same value is applied to goods received from overseas after the foreign currency value is converted into KRW.
employees
In compliance with the Ethics Charter and Ethical Behavior Guidelines, employees should not request gifts from business partners or external organizations in relation to work under any circumstances, and similar words and actions are prohibited. Gifts acquired unavoidably must be reported to the Business Support Team without delay along with the gifts.
Business Support Team
The Business Support Team shall supervise gift management, write down the received gifts in the gift management ledger, and store the gifts in a separate location. Gifts in storage shall be transferred and disposed of for the public interest after obtaining approval from the CEO.
If an employee receives a gift valued at more than KRW 30,000 from outside, he or she must report it to the Business Support Team without delay along with the gift.
Standards for disposing of gifts are limited to cases in which it is necessary for business purposes or for the public interest.
At the end of each year, the Business Support Team can dispose of gifts in storage after completion of the approval process, and if there is concern about deterioration among received gifts or if continuous maintenance and management are not possible for other reasons, gifts can be disposed of at any time through a separate approval process.
