Code of Ethics
Yeochun NCC actively practices ethical management
in order to grow with all stakeholders through honest, fair,
and reasonable business practices.
The purpose of these guidelines is to increase job transparency by providing practical instructions and ethical judgment standards
that may serve as a benchmark for the rational thoughts and actions of employees in their work performance.
2. Definitions of Terms
- Executives and employees : This refers to personnel, including executives, full-time employees, contract workers and dispatched employees.
- Money and goods : This refers to monetary benefits (cash, gift certificates, vouchers, etc.), goods, and other economic benefits.
- Entertainment/Hospitality : This refers to benefits in the form of food, drink, sports, entertainment, etc.
- Conveniences : This refers to benefits in the form of transportation, lodgings, tourism, event support, etc.,
and generally covers situations in which the other party suffers an economic loss for the beneficiary's convenience.
- Stakeholders : This refers to all persons and organizations that have a business relationship with the company or whose rights or interests are affected by the work-related actions
and/or decisions of its executives and/or employees.
- Scope of social norms : This indicates the degree to which an employee is able to handle work tasks fairly without feeling burdened, and it is a level that can be understood
by other executives and employees or the general public when applying sound common sense.
3. Practice Guidelines for Employees
- All executives and employees pursue continuous self-improvement with a sense of ownership, are familiar with and adhere to social laws, company regulations, and systems,
and are committed to self-improvement.
- Employees are prohibited from intentionally submitting false, concealed, or inflated reports.
- There shall be no debt-based transactions (borrowing, guarantees, etc.) between executives and employees. However, if this cannot be avoided, it must be reported to the appropriate senior position.
- Employees are prohibited from disseminating rumors that promote a culture of mistrust within the organization or discussing confidential information in public places that could cause harm to other employees.
- Executives and employees shall not misappropriate or embezzle the company’s tangible or intangible assets (including personnel, materials, equipment, furnishings, and public funds).
- Executives and employees shall maintain and safeguard the company's assets, as well as its information and confidentiality.
- It is permissible for a supervisor to recommend a trading company to a subordinate, but it is unlawful for a supervisor to apply pressure on a subordinate to conduct business with a particular company as an unfair instruction.
- It is prohibited for executives and employees to exchange gifts. However, this excludes gifts provided voluntarily by a superior to a subordinate or gifts that are not burdensome,
such as birthday or anniversary gifts, provided through discussion among department members.
- Executives and employees are prohibited from engaging in verbal or physical conduct that causes sexual disgrace within the organization.
- Reciprocal expressions of congratulations and condolences between executives and employees should maintain the spirit of mutual support without deviating from social norms.
- We do not accept money, valuables, entertainment or hospitality in relation to human resource affairs, nor do we engage in unnecessary pretensions (sending wreaths, etc.)
between executives and employees within the organization in exchange for promotions or transfers.
- A superior may not use his or her position to demand entertainment or hospitality from subordinates.
- Document forgery, such as stealing another person's signature, is prohibited.
- During working hours, executives and employees are prohibited from engaging in any additional activities for the purpose of a side job or personal gain without the company's permission.
4. Employee Practice Guidelines for Stakeholders
- Any money or valuables offered by a stakeholder must be refused or returned with courtesy. Nonetheless, if receiving something offered is unavoidable or if it cannot be returned,
it must be reported to a higher-ranking officer and a 'self-report' must be filled out and submitted to the Compliance Support Team along with the money or valuables in question
in accordance with the reporting procedure outlined in the company bylaws.
- Any tribute of money or goods from an interested party that amounts to a bribe should be politely declined or returned.
In addition, executives and employees shall refrain from sending wedding invitations/obituary notices or phone notifications, etc., to partner companies, whether personally
or via colleagues or subordinates.
- Business partners and stakeholders cannot provide financial conveniences such as money loans, real estate leases, or transactions with companies owned by relatives.
- Proxy payment or repayment of credit cards, credit, or loan payments made by interested parties shall be considered proxy acceptance.
- Giving and receiving through family, relatives, or friends is also considered an act of the employee.
- During their tenure, executives and employees may not receive or request a promise of future employment from a stakeholder while on the job during.
- Using one's position or authority to exert undue pressure or for personal gain is prohibited.
- Executives and employees shall not invite subcontractor employees to pay for stakeholder entertainment or department banquets, and shall not send receipts to contractors
in exchange for cash.
- Executives and employees shall not play golf privately with interested parties and impose the costs on the company, nor use golf memberships owned by stakeholders.
- Executives and employees shall not increase the profits of suppliers by purchasing their goods at a higher price than the standard unit price, and shall not receive refunds from suppliers.
- Executives and employees shall not accept cash, tickets, etc., or lodging/transportation costs, etc., when traveling domestically or internationally,
regardless of whether or not they are accompanied by interested parties. However, if an executive or employee attends a seminar organized by a stakeholder and receives official lodgings or transportation, prior approval must be obtained from a supervisor and the cost will not be included in the business trip expenses.
- Executives and employees shall not receive any form of entertainment, hospitality, or convenience. However, meals are permitted within reason (less than 50,000 won per person).
- Executives and employees shall not engage in private debt transactions (borrowing, guarantees) or monetary transactions with stakeholders.
- All transactions and private investments with stakeholders are prohibited.