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Ethics Charter

Subjects under the Ethics Charter and Code of Conduct

Hyundai Rotem aims to be a global company that contributes to the dreams of human society by creating a new future through creative thinking and endless challenges. The practice of ethical management is the basis for this, and to this end, the Ethics Charter and Code of Conduct were revised to ensure that Hyundai Rotem would become a reliable partner for various stakeholders and enhance customer value. All members of Hyundai Rotem must comply with this Ethics Charter and Code of Conduct.
All affiliates of Hyundai Rotem, including domestic and foreign production and sales corporations, subsidiaries and sub-subsidiaries, and joint ventures, shall be subject to the Ethics Charter and Code of Conduct, and all executives/employees of Hyundai Rotem shall act in accordance with this Ethics Charter and Code of Conduct even when dealing with project owners (ordering organizations) and partner organizations. All executives/employees to whom this Charter of Ethics and Code of Conduct apply must comply with the laws of the country concerned while performing their duties in accordance with this Charter of Ethics and Code of Conduct. Furthermore, all stakeholders in business relationships with the company must be encouraged to respect this Code of Ethics and Code of Conduct.
Companies to which the Charter of Ethics and Code of Conduct apply must comply with the regulations, policies, guidelines, etc., based on this Charter of Ethics and Code of Conduct in conducting business. If this Ethics Charter, Code of Conduct, related regulations, policies, or guidelines conflict with the laws of the local country, local laws and regulations shall take precedence. This Ethics Charter and Code of Conduct can be revised and used to reflect the laws and regulations required by the country and the characteristics of the industry, and if necessary, a separate detailed policy can be established. Organizations that wish to introduce this Ethics Charter and Code of Conduct must obtain prior permission from Hyundai Rotem.

Five Guiding Principles at Hyundai Rotem

1. We conduct our business with clear and transparent standards, and fulfill our responsibilities with sincerity and best efforts.
2. We compete fairly in the market and trade fairly with counterparties in contractual relationships.
3. To realize customer value, we provide safe products, the best service, and correct information, and thoroughly protect personal information.
4. We respect each member as an independent individual and provide fair working conditions and a safe working environment for this purpose.
5. As a global corporate citizen, we contribute to realizing sustainable development where various stakeholders can prosper together by fulfilling our social responsibilities.
  • We conduct our business with clear and transparent standards, and fulfill our responsibilities with sincerity and our best efforts.
    Bribery
    We do not accept, offer, or promise to provide illegal or unethical benefits or bribes in any form, monetary or non-monetary, from or to stakeholders.
    Improper Solicitation
    Improper solicitations are prohibited between executives/employees and stakeholders or between internal executives/employees.
    Conflict of Interest
    When conflicts of interest between the company and individuals are unavoidable, the interests of the company and customers shall be prioritized in action within the legal scope.
    Insider Trading
    Confidentiality, knowledge, and information obtained directly or indirectly through the performance of duties shall not be leaked or used for personal gain.
    Workplace Ethics
    Employees must fulfill their personal responsibilities while performing company duties, regardless of the time or place, and must use company assets and facilities only for business purposes.
    Abuse of Power
    Employees shall not exercise undue influence by using their job authority or position, or pursue illegal interests for the company or individuals.
    Documentation and Reporting
    Employees shall not create or report documents based on fabricated content, such as concealment, reduction, exaggeration, or false content, and shall not share the documents with internal or external stakeholders.
    1. Bribes are any form of advantage or benefit offered or received in order to obtain a monetary or non-monetary purpose, and they include money, services, entertainment, gifts, donations, grants, preferential treatment, provision of conveniences, etc.
    2. Insider trading often uses company secrets, knowledge, business information, organizational information such as mergers and acquisitions, information related to stock prices, and internal decision-making matters.
  • We compete fairly in the market and trade fairly with counterparties in contractual relationships.
    Antitrust
    We do not engage in any act that may undermine fair competition through unfair transactions, such as abusing our market-dominating position or trading position.
    Collusion
    We do not agree to engage in any act that unfairly restricts competition with other business operators regarding the price, supply volume, trading area, or trading conditions of goods or services.
    Unfair Competition
    We do not obtain information fraudulently from competitors, business partners, or other organizations and do not use or disclose information obtained fraudulently by the Company or a third party.
    Money Laundering
    We do not engage in activities related to money laundering for customers, partners, subcontractors, other organizations or individuals.
    Intellectual Property
    We protect the trade secrets of partners in contractual relationships, and do not infringe on the intellectual property rights of other companies, etc.
    Tax Compliance
    For transparent and fair tax administration, we abide by the tax laws of each country where our business is located, and do not evade the due tax payment obligations given to us.
    Procurement
    We pursue a fair win-win relationship with our partners and do not engage in unfair trade practices.
  • To realize customer value, we provide safe products, the best service, and the correct information, and thoroughly protect personal information.
    Customer Safety
    We do not make decisions that compromise customer safety in the entire process of R&D, procurement of raw materials, production, sales and distribution, and after-sales service.
    Quality
    We do not do anything that compromises the quality standards required to stably supply the best products and services to our customers.
    Providing Complete Information
    We provide correct and useful information related to products and services to our customers to help them make the right decisions and do not provide false or exaggerated information.
    Privacy
    We comply with relevant laws and regulations for the protection of the personal information of customers and do not engage in acts that may illegally infringe on their personal information.
    Customer Opinion Collection
    We listen to customers' opinions about our products and services and actively accept legitimate requests and reasonable suggestions from customers.
    Customer Accessibility
    We take necessary measures to ensure that no customers are unfairly restricted from using our products or services due to gender, age, disability, language, etc.
    Product Liability
    We actively provide necessary information to prevent damage and risk to customers and responsibly implement measures to ensure the safety and quality of our products and services.
  • We respect each member as an independent person, and to this end, we provide fair working conditions and a safe working environment.
    Human Rights
    We respect each employee as an independent person and take active measures to ensure that human rights universally pursued by human society are protected.
    Child Labor and Forced Labor
    We comply with the labor laws of the country where our workplace is located, and prohibit child labor and forced labor in the workplace.
    Discrimination
    We do not discriminate against executives/employees on the basis of nationality, region of origin, race, gender, age, culture, religion, disability, academic background, political orientation, or personal preference.
    Equal Opportunity
    We provide equal opportunities for education and growth to our employees according to their abilities and qualifications, and fairly evaluate them on and compensate them for their performance.
    Workplace Harassment/Bullying
    We prohibit all online and offline actions that insult the personality of members or undermine human dignity, such as verbal or physical violence, sexual harassment, bullying, and intimidation.
    Safety and Health
    We actively take necessary measures for the safety of our employees and maintain a safe work environment from occupational accidents and injuries, disasters, catastrophes, illnesses and contagious diseases.
    Work-Family Balance
    We strive to provide a work environment in which the work and personal lives of our employees are harmoniously balanced.
  • As a global corporate citizen, we contribute to the realization of sustainable development where various stakeholders can prosper together by fulfilling our social responsibilities.
    Sustainable Development
    In the process of making management decisions, we fulfill our responsibility to contribute to the achievement of the Sustainable Development Goals (SDGs) to solve the environmental and social problems facing human society.
    Environment
    Recognizing that the environment is a valuable asset to be preserved for the next generation, we actively fulfill our responsibility to minimize negative impacts on the environment in all areas of our business.
    Social Contributions
    We actively discover social problems facing our society, and furthermore, humanity, and we actively seek solutions as well.
    Stakeholder Engagement
    We try to identify stakeholders who are affected by company management or who may have an impact on the company, and actively communicate and act with them on important issues related to sustainability.
    Donation and Sponsorship
    We proceed fairly with charitable donations and sponsorships according to internal enforcement standards and procedures, and do not engage in donations or sponsorships for political purposes.
    Shareholder Value
    We strive to increase the value of the Company and shareholders through sustainable management.
    Disclosure
    We disclose financial and non-financial information in a timely manner in accordance with relevant laws and regulations.
  • Manager's Responsibility
    The person in charge of the organization that implement this Ethics Charter and Code of Conduct must actively support and manage employees and business-related stakeholders in such a way as to ensure that they can properly work with this Ethics Charter and Code of Conduct.
    Governance and Reporting
    Organizations that implement this Ethics Charter and Code of Conduct shall form an appropriate organization and reporting system for ethical risk prevention and due diligence, and define responsibilities and roles clearly.
    Monitoring and Due Diligence
    Organizations that implement this Ethics Charter and Code of Conduct shall constantly monitor ethical risks and establish a system for due diligence.
    Internal Control
    Organizations that implement this Ethics Charter and Code of Conduct must establish a 24-hour reporting system that allows for internal and external access, and introduce an appropriate internal control system such as regular or irregular audits.
    Whistleblower Protection
    Organizations that implement this Ethics Charter and Code of Conduct must protect the identity of whistleblowers, and take necessary measures to ensure that whistleblowers are not subjected to unreasonable treatment, discrimination or retaliation.
    Revision
    This Ethics Charter and Code of Conduct must be regularly reviewed and revised.
    Education
    Organizations that implement this Ethics Charter and Code of Conduct must conduct appropriate training to ensure that their employees can respect and practice the spirit pursued by this Ethics Charter and Code of Conduct.
    Process
    Organizations that implement this Ethics Charter and Code of Conduct must immediately take necessary measures in accordance with company rules when violations occur.
    Violation Information Disclosure
    Organizations that implement this Ethics Charter and Code of Conduct must choose an appropriate method and disclose information to prevent the recurrence of violations.
  • 1. Contact person in charge
    Ethics-related counseling and reporting counter
    E-mail: Ethics Management website ⇒ Cyber Report Center ⇒ Report
    Phone : 031-8090-8272,8048
    Mail: Hyundai Rotem Co., Ltd., 37 Cheolguk Museum-ro, Uiwang-si, Gyeonggi-do
    2. References
    This Code of Ethics and Code of Conduct pursues the spirit and values specified in various international human rights norms and related laws, and was established based on the following declarations and agreements.
    Universal Declaration of Human Rights, UN General Assembly, 1948.
    The Ten Principles of the UN Global Compact, UN Global Compact
    International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, ILO (1998).
    Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, OECD (2019).
    United Nations Convention Against Corruption, UN General Assembly (2013).
    Paris Agreement, UNFCCC (2015).
    The OECD Guidelines for Multinational Enterprises, OECD (2011).
    Global Automotive Sustainability Practical Guidance, Drive Sustainability (2017).
    Guiding Principles on Business and Human Rights, UNGC (2011).
    Guidance on social responsibility, ISO(2010).
    UN SDGs (https://sustainabledevelopment.un.org/)
    CDP (https://www.cdp.net/en)