Living together with everything in Hyosung TNC's factories and the surrounding environment
In an effort to ensure more transparency in its business management, Hyosung TNC Corporation has adopted the ‘Code of Ethics’ so that all employees can refer to it as a set of guidelines to make decisions properly and ethically. Hyosung TNC Corporation will continue to facilitate healthy corporate culture and fulfill its social roles and responsibilities as a global corporate citizen.
The Hyosung TNC Code of Ethics applies to all affiliated companies including the holding company of Hyosung TNC and all employees.
The Hyosung TNC Corporation, can regularly review on the Code of Ethics and may require advice from the Compliance Officer when encountering unclear or ambiguous application standards.
All stakeholders subject to the Code of Ethics shall report violations to the Compliance Officer right after perceiving them without delay. Any decisions or actions contrary to the Code of Ethics may be investigated and penalized according to the company regulations. Unethical behaviors or corruption can be reported through the Reporting Center. We guarantee identity of the informer is kept secret, and any disadvantage or discrimination against the informer is prohibited.
We respect the national laws and comply with all regulations and socially defined norms of conduct.
We strictly comply with the company’s business policies and regulations and fulfill our responsibilities and duties.
We regularly create jobs by earning honest business profits and earnestly fulfilling our basic roles as members of our society.
We respect the market economy rules and trading practices not only in domestic regions but also overseas regions that the company is operating in and comply with the laws and regulations accordingly.
We never conduct or get involved with illegal insider trading or money laundering.
Gaining the trust of our customers is our most important priority.
We provide distinguished quality and service that can satisfy the needs of our customers
We strive to establish transparent and fair business practices with our customers and develop healthy partnerships.
We increase the profits for our shareholders and investors by creating value with better performance.
We conduct business logically and transparently to gain the trust of both our shareholders and investors.
We respect the rights of our shareholders and investors and offer them all the necessary information at the appropriate time to realize profits with integrity.
We mutually respect the character of each of our fellow employees and establish a sensible corporate culture based on mutual trust and understanding.
We create a pleasant and safe workplace where individuals can openly express their creativity.
We do not discriminate based on unreasonable grounds, such as nationality, educational background, place of birth, gender, age, religion, disability, political inclination, or marital status.
Employees do not force, impose or respond to unfair or unethical tasks within the organization.
Employees do not accept or promise bribes.
Employees try to avoid any conflict of interest between the company and customers as well as among customers and prioritize the interests of the company and customers if any conflict of interest occurs.
Employees strictly manage and protect corporate and customer information which is acquired to complete work-related tasks and do not use it for private purpose.
When selecting suppliers, it is considered whether they comply with Hyosung’s human rights, environmental and social values.
A business trade with a supplier is made in an equal position, and we do not engage in unfair trade practices, abusing our superior position.
We create a foundation for shared growth with suppliers by enhancing their sustainability through multi-faceted support activities.
We fulfill all the responsibilities and duties as a member of society as well as strive to achieve mutual prosperity and progress through social contribution efforts.
We aspire to be an environmentally friendly company and try to get appreciation and respect from the community.
Hyosung TNC Code of Ethics :
Announced on June 01, 2018.
Amended on August 30, 2019.
We aim to become a trusted company with the honest management activities.
We respect national policies and do not engage in illegal activities.
The company competes in good faith with its competitors based on products and services in business operation and does not engage in unfair competition.
We do not obtain information in an unethical or illegal way violating related laws.
Employees who work abroad respect and comply with the laws and social order of the host country so that their performance in the company is not interfered.
We do not only respect market economy order, trade customs and regulations of domestic territory but also overseas counterparts to ensure legitimate and fair business trades with our business partners.
As a member of the country and local communities, we comply with various laws and regulations concerning the prevention of corruption, bribery and money laundering, and report any suspicious transactions through due process and method.
We share the company’s business philosophy and goals, comply with the corporate management policies and regulations, and focus capabilities to complete the imposed tasks in a timely and accurate manner based on ownership and responsibility at work.
In performing work-related tasks, the interests of the company are prioritized rather than those of individual person, and the work is carried out objectively and rationally.
We neither work for third party individuals or companies which have a conflict of interest with the company, nor form any special relationships with them.
The company’s confidential or sensitive information is strictly protected, and important information is communicated immediately to the relevant person for work. And we neither distort information nor disseminate nay false information.
With customer satisfaction as a top priority, we strive to provide the highest-quality products and services and fully comply with our promises with customers.
We make sure the trades with customers are carried out reasonably in an equal position based on mutual respect.
We do not abuse our superior position to ask customers for any kind of unreasonable demands.
We do not advertise and display false or exaggerated information. We do not conceal information and disclose information that customers need to know.
We are responsible for the entire lifecycle of our products in consideration of consumer safety from the procurement stage of purchasing raw materials, parts, and packaging materials that do not contain hazardous materials to product development, manufacturing, logistics, reuse, and recycling.
We maintain mutual trust and respect with our business partners to promote shared growth and increase benefits among both parties.
The company provides equal opportunities in the event of bidding and signing contracts and carries out business trades reasonably by signing a contract in an equal position.
The company maintains constructive relationship with suppliers by finding and fostering excellent suppliers.
We strive to make sound profits by efficient management activities and increase shareholders’ value by rational investment.
We manage and record financial status accurately and transparently in accordance with accounting standards.
We do not engage in unfair trade practices by using internal corporate information for the private benefit of one’s own or others.
We provide reliable and useful information related to overall business status to stakeholders and investors in timely manner.
We try to ensure that our corporate value is evaluated properly through active advertisement and IR activities.
We respect individual characteristics of each employee, encourage their creative thinking and autonomy, and provide support for their capacity building as well as educational opportunities.
We provide equal opportunities to all employees and evaluate them fairly based on their performance and capabilities.
We do not discriminate on the grounds of nationality, educational background, region, gender, age, religion, political inclination and marital status when it comes to employment, work and promotion.
Employees do not engage in unethical conducts such as gambling, taking improper money, borrowing money, or writing joint and several liability among each other.
Employees do not conduct defamatory behaviors as well as any verbal, physical, sexual or visual behaviors which may offend other employees, and we respect personal privacy of each individual.
We do not favor or discriminate against certain individuals or organizations for reasons of nepotism, academic relations, religion, or gender and do not ask for favors to cause disadvantage against other employees.
The company and employees create a creative and proactive corporate culture in order to achieve shared goals and do not engage in acts that encourage departmental selfishness or conflicts.
A supervisor may not give his/her subordinates unfair work orders contrary to legal and corporate regulations. In response, the subordinates can refuse to perform his/her duties by clarifing proper reasons.
An employee should neither engage in any kind of solicitation that undermines the fair working performance of other employees for the sake of his/her own or others’ interests, nor receive or promise any bribes.
Employees strive to avoid any conflict of interest between the company and customers or between customers by using their superior status and personal interests. When a conflict of interest arises, they try to seek for resolutions to minimize damages to stakeholders.
Employees strictly manage and protect corporate or customer data acquired during work, in accordance with relevant laws and corporate regulations, and do not leak it out or use it for personal purposes.
When selecting suppliers, starting and continuing contracts with them, we consider whether they comply with human rights, environmental and social values which the company pursues.
We ensure that a business trade with a supplier is carried out fairly in an equal position, and we thoroughly discuss trade conditions and process with suppliers and do not commit unfair trade practices, abusing our superior position.
We create a foundation for shared growth with suppliers by enhancing their sustainability through multi-faceted support activities.
We protect the intellectual property rights of our business partners and protect all information of our subcontractors.
We respect the values of the domestic and overseas local communities where the business operates and continue to create employment and fulfill our basic responsibilities as a member of society.
As an exemplary member of society, we actively respond to social demands imposed to the company such as CSR activities.
We strive for environment conservation and actively participate in environmental protection in the local communities.
We do not engage in any conducts which will undermine the company’s reputation, refrain from improper privacy, and take through self-management.
We do not engage in any political activities that benefit any specific party or social group, using the position in the company.
1 Factory 1 River Campaign
We conduct regular clean-up campaigns of the rivers next to our Ulsan and Gumi factories in
order to purify the environment surrounding our factories.
Our Ulsan factory is leading the efforts to purify the environment around the Taehwagang River.
We are also cleaning up the environment surrounding the factory while leading a campaign to clean
the Napdo Road which passes by the factory. In addition to our campaign to clean the environment
around the Igyecheon River and Cheonsengsan Mountain, our Gumi factory is participating
in the Gumi city government's efforts (along with other companies in Gumi) to clean up
the Hancheon River.
Building a collaboration system with startups
We are investing in, or providing technology support to,
startups that produce clothes or accessories using environmentally-friendly
textiles or possess the technology for doing so. By undertaking diverse
projects with startups and providing a stable supply of our environmentally-friendly yarn,
we are helping South Korean startups to become leading fashion brands in the domestic
market and beloved brands in the global market.
Starting with PLEATSMAMA, we will form a partnership system with startups and contribute to
identifying environmentally-friendly startups that have the competencies to survive in the market.
