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Sustainability report

Sustainability report 2023 Download Sustainability report 2023

Ethics and Compliance

Ethics and Compliance

Key Visual
Ethics and

Compliance Activities

Hanwha Ocean requests our employees to sign a pledge of compliance, conducts ethics counseling, and provides ethics and compliance education. We work to respond to legal risks in advance and establish a culture of compliance through periodic inspections of legal risks.

Pledge of Ethical Conduct

Each year, Hanwha Ocean requests our employees to sign a pledge of compliance to check their compliance awareness.

Pledge of Compliance

As a member of Hanwha Ocean, I pledge to clearly recognize the core values and ethics and compliance policy of the company and comply with the following in performing my duties.

  1. 1.I will fully understand and comply with domestic and international laws and regulations such as the Improper Solicitation and Graft Act as well as company regulations in relation to my duties, and will not instruct, approve, aid, or condone any behavior that violate them.
  2. 2.I will faithfully perform my duties based on the principle of good faith, and will give priority to the legitimate interests of the company in the event of a conflict between the company’s and personal interests.
  3. 3.I will not provide unfair money or entertainment to stakeholders, including public officials and clients, both at home and abroad for the company’s business or interests.
  4. 4.I will not receive or request any profit in property, whether tangible or intangible, such as graft, gifts, favors, entertainment, and convenience, from suppliers or potential business partners, and will not be a direct or indirect party to any monetary transactions or solicitations.
  5. 5.I clearly understand the laws governing transactions with suppliers, vendors, partners, and the like, acknowledge them as equal parties to contracts, and will not take any actions against them.
  6. 6.I will not disclose the company’s critical information, trade secrets, management data, and personal data of employees and stakeholders without permission or use it for purposes other than business.
  7. 7.I will respect the personality and human rights of all employees, will not spread false rumors related to the company or individuals, and will not act or use words that may pose reputational damage to the company.
  8. 8.I will actively participate and cooperate with the company’s policies, guidelines, training, and practice programs so as toestablish an ethics and compliance order.
  9. 9.I will immediately notify the company (including business assessment organizations or relevant organizations) if I become aware of employee bribery or hear allegations of irregularities from employees or stakeholders.
  10. 10.I will do my best to cooperate, such as providing relevant materials and expressing my opinions, in the event of an investigation into an act that violates or is suspected of violating the Code of Ethics or the Code of Ethics Practice Guidelines.
  11. 11.Should I breach the provisions above, I will accept and not object to any reasonable actions taken under applicable laws or company rules.
January 4, 2023

Head of Legal Planning Section, Legal Department[Pledged]

Ethics counseling

Hanwha Ocean’s employees are free to ask questions about the company’s Code of Ethics, ethics policy, and other systems, and receive counseling on situations facing ethical dilemmas. Employees can choose to get counseling in public or private under their real name or anonymously through the ethics consultation website.

Ethics and compliance education

Hanwha Ocean conducts ethics and compliance education each year to raise compliance awareness among employees. The programs provided in 2023 are listed in the table below. The contents of education include topics related to the Fair Trade Act, the Subcontracting Act, the Unfair Competition Prevention and Trade Secret Protection Act, and anti-bribery and compliance. All the programs are tailored to the characteristics and needs of each organization, and we strive to ensure fair competition throughout our business activities.

Ethics and compliance education
Content Eligible Organization Details
[Fair Trade Act]
  • Unfair support behavior
  • Precautions on internal transactions among affiliates
  • Unfair collaborative acts (collusion)
  • Precautions on consultation with companies in the same industry, etc.
  • Key organizations requesting internal transaction review
    • Procurement, naval and specialty ships, research and planning, HR, support, business management, IT, etc.
  • Organizations for consultation with companies in the same industry
Conducted in Nov. 2023
112 persons completed the program
[Subcontracting Act]
  • Legal risk related to the Subcontracting Act
  • Delivery price indexation system
  • Precautions on the introduction of the delivery price indexation system
  • Organizations under subcontracting agreement
    • Procurement, shared growth, outside contracting, etc.
Conducted in Nov. 2023
107 persons completed the program
[Unfair Competition Prevention and Trade Secret Protection Act]
  • Protection of trade secrets
  • Trade secret guidelines
  • HR-related (recruitment, in-service, resignation) precautions on compliance with the Unfair Competition Prevention and Trade Secret Protection Act
  • Information security office
  • HR departments
  • Central Research Institute, etc.
Conducted in Nov. 2023
28 persons completed the program
[Anti-bribery and compliance]
  • Matters regarding risk assessment
  • Internal auditors
Conducted in Nov. 2023
49 persons completed the program
[Educational broadcasting on the Subcontracting Act]
  • All companies (self-attendance)
Broadcasted throughout the year;
456 persons completed the program
Legal risk inspection activities

Hanwha Ocean checks on the legal risks of the company on a regular basis through subcontractor surveys, review of subsidiaries’ legal systems, and voluntary checks on unfair collaborative acts under the Fair Trade Act. In 2023, we early detected risks of violations of the Subcontracting Act through a subcontractor survey and took preventive measures deemed necessary. In addition, we inspected the legal collaboration system between the headquarters and subsidiaries and distributed a checklist for unfair collaborative acts under the Fair Trade Act.