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Ethical Management Charter

Guided by the clear goal of going “from agricultural machinery to future agriculture” and a managerial philosophy that asks us to constantly challenge ourselves to innovate global agriculture and agricultural machinery, we provide the best value to our customers, and as a corporate citizen, we aim to fulfill our duties and responsibilities with fair and transparent ethics as a top management priority and contribute to the development of both society and humanity.
Accordingly, we have established an Ethics Charter, which is the standard for correct behavior and value judgment, and pledge to implement it across all management activities.

“ One ”
We consider ethics to be the highest value in carrying out our duties, and thus we strive to create a healthy corporate culture that prohibits all illegal and unethical profits and solicitations that impede fairness, and keep in mind that ethical management is key to a company's competitive edge.
“ Two ”
As a member of the society and local community, and as a corporate citizen, we take the lead in promoting sustainable development for future generations by participating in the search for solutions to social and environmental problems beyond our pursuit of generating profits.
“ Three ”
We satisfy customers with the best products and services, thoroughly protect their personal information, and strive to enhance shareholder value by maximizing corporate value with strategies that innovate management and keep our practices transparent.
“ Four ”
We respect each of our employees as independent individuals, build stable labor-management relations based on an organizational culture of trust and harmony, and support the pursuit of a healthy work-life balance as well as individual and organizational growth.
“ Five ”
We provide fair opportunities to our partner companies on an equal footing, do not make unfair demands using our power and status, and build a cooperative relationship of shared growth through consideration and respect.

Rule of Ethics

Rule of Ethics presents standards for ethical judgment and behavior that help enforce the Ethics Charter.

  • Chapter 1. General provisions

    Article 1. Purpose
    The Rule of Ethics presents standards for ethical judgment and behavior to help employees make correct decisions in the company's pursuit of ethical management practice.


    Article 2. Compliance obligations
    All employees shall comply with the Rule of Ethics, and help create a corporate culture that pursues ethical management in order to become a global leader in the future agricultural market.


    Article 3. Scope of application
    The Rule of Ethics applies to all company stakeholders, including the company, its employees, customers, shareholders, partner companies, and the local community.


    Article 4. Code of Ethics
    1. The Code of Ethics features an Ethics Charter, Rule of Ethics, and Employee Code of Conduct.

    2. The constituent component of the Code of Ethics specifies the following.
    ① Ethics Charter: Outlines the fundamental spirit of ethical management to help enforce the company's management philosophy
    ② Rule of Ethics: Presents standards for ethical judgment and behavior to help enforce the Ethics Charter
    ③ Code of Conduct: Provides specific guidelines for employees based on the Rule of Ethics to help better decision-making

  • Chapter 2. Professional ethics of employees

    Article 5. Basic ethics of employees
    1. Employees shall share and practice the company's management philosophy and vision that prioritizes ethical values.
    2. Employees shall protect not only their personal dignity, but also the company’s dignity, and do their best in our duties with pride as members of the organization.


    Article 6. Obligation to comply with laws and regulations
    Employees have an obligation to comply with all laws and company regulations while performing their duties.


    Article 7. Obligation to report facts
    1. Employees have an obligation to report honestly, accurately, and in a timely manner on all matters related to their work strictly based on facts.
    2. In particular, if a team becomes aware of any matter that may be detrimental to the company, the team has an obligation to immediately notify the internal audit department and cooperate so that an investigation can be conducted without delay.


    Article 8. Establishing a healthy work environment
    1. Employee shall share work-related know-how and information with other employees, and keep all information not disclosed to the public confidential.
    2. Employees shall not work for personal gain during working hours or recommend doing so to others.
    3. Employee shall do their best to establish a proper workplace culture that prohibits sexual harassment by learning relevant information through sexual harassment training provided regularly by the company.


    Article 9. Interacting with the media
    When mentioning the company in media such as newspapers, Internet TV, etc., employees shall be mindful and ensure that their personal views are not misconstrued as the company's views. If such problems are anticipated, employees shall consult with the relevant team in advance.


    Article 10. Establishing a healthy cyber culture
    1. During work hours, employees shall not access websites that are not related to their work, such as private chat rooms, entertainment feeds, Internet games, or indecent/harmful websites.
    2. Employees shall not use in-house computers to store, install, or use illegal software nor shall they use equipment to copy or distribute indecent/harmful content.

  • Chapter 3. Ethics for the company employees

    Article 11. Respect for each employee
    Employees shall respect each other as independent persons and strive to create a work environment where everyone can feel pride and satisfaction in their work.


    Article 12. Developing talented individuals
    1. The company shall establish and implement the necessary systems so that employees can develop themselves into creative talents.
    2. In order to develop the capabilities of employees, the company strives to provide opportunities for other job postings and transfers on a regular basis, and offer work that reflects the capabilities and intentions of employees as much as possible.


    Article 13. Guaranteeing the free expression of opinion
    The necessary systems are in place so that employees can freely make suggestions, offer feedback, and express difficulties, and ensure a free expression of opinions.


    Article 14. Fair treatment
    1. The company shall provide equal opportunities to employees, and evaluate and reward them on a fair basis commensurate to their achievements and performance.
    2. The company shall not discriminate against employees on the basis of school ties, region, familial relations, gender, religion, age, disability, marital status, nationality, race, etc.


    Article 15. Health and safety of employees
    1. The company shall create a work environment where employees can work comfortably and safely.
    2. The company shall strive to offer regular health checkups and disease prevention activities to improve the health of our employees.


    Article 16. Obligation to protect whistle-blowers
    1. The identity of employees who report acts that violate the Code of Ethics or acts that are in the pursuit of unfair private interests, as well as the details of such reports, shall be kept strictly confidential.
    2. The company shall protect whistle-blowing employees from any personnel or work disadvantages due to their decision to report their concerns.

  • Chapter 4. Ethics toward customers

    Article 17. Customer satisfaction
    1. The company shall always keep its promises to customers and provide the best service.
    2. The company shall always listen to and humbly accept customer feedback and suggestions.
    3. The company shall handle customer complaints as swiftly and fairly as possible.


    Article 18. Customer protection
    1. The company shall communicate facts that need to be known or should be known to customers accurately and swiftly.
    2. The company shall not disclose customer-related information or use it for other purposes unless prior consent is given or the company is legally required to disclose the information.


    Article 19. Respect for customers
    Recognizing that customers are the reason for the company's existence, the company shall think from the customer's perspective with a sincere heart and kind attitude, and make customers its top priority in all decisions and actions.


    Article 20. Creating customer value
    The company shall always strive to create added value that our customers need, under the understanding that the growth of customers ultimately leads to the growth of the company.

  • Chapter 5. Ethics for shareholders and investors

    Article 21. Maximizing corporate value
    1. The company shall create new value for the company with continued innovations to its operations, and by maintaining a sound financial structure.
    2. The company shall pursue the maximization of legitimate profits with rational and efficient management.
    3. The company shall strengthen the competitiveness of existing businesses and foster new growth industries.


    Article 22. Transparent management
    1. The company shall record and manage accounting information accurately and transparently in compliance with relevant laws and accounting principles.
    2. The company shall transparently disclose corporate information in accordance with appropriate procedures so that shareholders and investors can make rational investment decisions.


    Article 23. Protecting shareholder and investor rights
    The company shall protect the interests and rights of shareholders and investors, and strive to improve returns on investment.

  • Chapter 6. Ethics toward partner companies

    Article 24. Establishing fair transaction procedures
    1. The company shall provide equal opportunity to participate in transactions to all partner companies that meet certain qualifications.
    2. The company shall evaluate partner companies based on objective and fair review standards.


    Article 25. Pursuing mutual growth with partner companies
    1. Partner companies are free to express their opinions regarding transactions, and if their opinions are reasonable, they shall be reviewed positively so that they can be reflected in current and future transactions.
    2. If information and know-how that is helpful to the development of a partner company is acquired during the process of using a product or service, it shall be provided to the relevant partner company.


    Article 26. Establishing an ethical management system
    1. The company shall provide support in various ways, including education and provision of materials, to build a consensus on ethical management with its partner companies.
    2. The company may reduce or suspend transactions with a partner company if serious violations related to ethical management, such as causing environmental pollution or labor exploitation, are confirmed during the manufacturing and distribution of products by the partner company involved.

  • Chapter 7. Ethics toward competitors

    Article 27. Compliance with fair trade rules
    1. The company shall follow fair trade rules in all business activities both domestically and overseas.
    2. The company shall comply with various international conventions and various laws for fair trade in each country.


    Article 28. Fair and free competition
    1. The company shall adhere to the principles of free competition and respect the market economic order everywhere in the world.
    2. The company shall ensure that it uses fair means to compete against competitors.

  • Chapter 8. Ethics toward the environment and society

    Article 29. Environmentally friendly management
    1. The company shall carry out preventive measures to protect the environment, such as saving resources and developing environmentally friendly technologies.
    2. The company shall comply with international standards, related laws, and internal regulations related to environmental protection.


    Article 30. Social contribution activities
    1. The company shall guarantee and actively support the participation of employees in healthy social and volunteer activities, and contribute to the development of the local community as members of the community.
    2. The company shall support culture, art, and sports activities, and strive to preserve traditional culture.


    Article 31. Neutral in political affairs
    1. The company shall not participate in the politics of the country in question, and shall remain politically neutral.
    2. The company shall respect the suffrage rights of employees, but it shall prohibit political activities within the company itself.


    Article 32. Fulfilling obligations as a corporate citizen
    1. The company shall contribute to the development of society by creating jobs and paying taxes faithfully, and also by increasing corporate value and generating profits through continued growth.
    2. Employees shall comply with all local laws and regulations, regardless of whether they are domestic or foreign citizens, and fulfill their social responsibilities as corporate citizens.
    3. Employees shall not accept or give bribes, such as providing unfair money or entertainment, and shall avoid any other form of corruption.

  • Chapter 9. Compliance with the Code of Ethics

    Article 33. Audit department
    1. The company shall operate an audit department to promote ethical management throughout the company.
    2. The audit department shall be responsible for the enactment/revision, education/promotion, and compliance with the Code of Ethics so that employees can comply with and practice the Code of Ethics.


    Article 34. Obligation to report
    1. If employees need consultation regarding the application and compliance with the Code of Ethics, they may consult with the audit department at any time.
    2. If an employee is coerced or becomes aware of an act that violates the company's regulations and guidelines, including the Code of Ethics, he/she shall report it to the audit department along with the objective facts.


    Article 35. Rewards and disciplinary action
    1. Employees who contribute to achieving the purpose of the company's ethical management may be rewarded in accordance with relevant regulations.
    2. Employees who violate the Code of Ethics shall be subject to corresponding disciplinary action in accordance with the company's personnel-related regulations.

Employee Practice Guidelines

The following are specific behavioral guidelines for employees pursuant to the company’s Rule of Ethics.

  • Section 1. General provisions

    Article 1. Purpose
    These guidelines shall present specific criteria for employees to comply with when making correct decisions in situations that may arise in their lines of duty in order to help them properly understand and practice the provisions and principles stipulated in the company’s Rule of Ethics.


    Article 2. Terms and Definitions
    1. Money, goods, etc.: Economic/property benefits or gains such as goods (gifts, etc.), including cash, gift certificates, vouchers, securities, accommodation vouchers, membership tickets, admission tickets, discount vouchers, invitation tickets, viewing tickets, etc.
    2. Entertainment: Benefits such as meals, drinks, sports (golf), performances, entertainment (gambling), etc.
    3. Favors, etc.: Support other than money, goods, or entertainment, including the provision of transportation, accommodation, tourism, and event support
    4. Interested parties: All individuals and organizations inside and outside the company whose rights or interests may be directly affected by decisions made by employees.
    5. Normally acceptable level: A level normally and generally accepted as reasonable based on common sense by other employees or the general public, and the extent to which the beneficiary can continue and execute their responsibilities without feeling pressured or biased (However, if the beneficiary falls under the definition of a public servant stipulated in the Improper Solicitation and Graft Act, etc., the following limitations shall apply: Food and beverages offered for purposes of facilitating the performance of duties, social relationships, rituals, shall be no more than KRW 30,000 in value; gifts shall be no more than KRW 50,000 in value (no more than KRW 100,000 if the gift is a processed product in which agricultural and fishery products make up at least 50 percent of the raw materials or ingredients); and congratulatory or condolence money shall be no more than KRW 50,000 in value (no more than KRW 100,000 when sending wreaths and condolence flowers)).
    6. One’s own doing: If an executive of staff violates these guidelines, not only his/her own actions but also the actions of his/her family, relatives, acquaintances, etc. shall be considered his/her own actions.

  • Section 2. Work ethics

    Article 3. Mutual respect between employees
    1. Employees shall not discriminate against each other on the basis of school ties, region, familial relations, gender, religion, age, disability, marital status, nationality, race, etc.
    2. Employees shall not slander others or engage in any verbal or physical actions that may cause distress.
    3. Employees shall not provide personal money or valuables beyond the normally acceptable level or make unfair requests (including borrowing money, guaranteeing loans, etc.).


    Article 4. Communication between superiors, subordinates, and organizations
    1. Superiors shall not use their position of power to give unfair work instructions or perform personal errands to subordinates.
    2. Subordinates shall exert their utmost effort to execute work instructions given by their superiors.
    3. If a superior gives an instruction to promote the unfair benefit of himself/herself or others, or if the instruction is illegal, the subordinate may refuse to comply with the instruction and report the matter to the authorities if necessary.
    4. Employees shall not spread false information or take actions that encourage unnecessary conflict, including acts of “team egoism,” within the company.


    Article 5. Prohibition of false reporting
    1. Employees shall not inflate performance or report false information.
    2. Employees shall not distort information pertaining to the company’s business, such as concealing or minimizing one’s mistakes or irregularities.

    Article 6. Confidentiality of information
    1. Information learned during work shall be used solely for the benefit of the company, and when internal company information, such as company confidential information or business information, is leaked to the outside or disclosed to a third party, prior permission or approval shall be obtained in compliance with the company's policies and procedures.
    2. Employees shall not possess the original or copy of information acquired in their lines of work, and they shall keep the information confidential even after leaving the company.


    Article 7. Prohibition of personal use of internal information
    1. Employees shall not solicit guarantees for future personnel benefits or private transaction contracts from interested parties engaged in a business relationship.
    2. Employees shall not trade stocks using internal information acquired in connection with their work. (Pursuant to Article 172 of the Financial Investment Services and Capital Markets Act, if an employee profits from selling or purchasing stocks, he/she may return said profits to the company within six months.)
    3. Employee shall not leak secrets or private information pertaining to interested parties, such as partner companies, to third parties or use said information to trade stocks of stakeholder companies.


    Article 8. Protection of company assets
    1. Employees shall not embezzle the company's public funds or use them for personal purposes, including any cases of temporarily using funds for personal reasons.
    2. Employees shall not arbitrarily use company assets such as company cars.
    3. If using the company's assets for personal purposes is unavoidable, the employee shall report this to his/her Team Manager in advance.
    4. If an employee becomes aware of an issue or condition that may cause damage to the company, he/she shall immediately report it to his/her Team Manager, then the team/organization shall notify the internal audit department without delay and actively cooperate with the investigation.


    Article 9. Prohibition of dual employment
    Employees shall not become an executive or employee of another company, organization, etc., or engage in a commercial business (multi-level business, insurance sales, etc.) without permission from the company. In the event an employee anticipates problems arising from dual employment, he/she shall consult with the human resources department in advance.


    Article 10. Fair execution of budgets
    The budget shall be used in accordance with its purpose and criteria, and the following actions shall be strictly prohibited:
    A. Using the company's budget or resources for personal purposes
    B. Embezzling company funds by filing false claims or false reimbursements
    C. Providing and accepting entertainment between employees that exceeds what is considered a normally acceptable level


    Article 11. Avoidance of conflict of interest
    1. When concluding contracts or engaging in business activities, employees shall avoid engaging in unfair business relationships with business associates with personal interests, such as retired executives or employees, interested parties whom they have academic ties, regional ties with, or relatives.
    2. If the transaction with a customer with a private interest is unavoidable, employees shall prove the transparency and fairness of the transaction in an objective manner, such as applying market prices and quotes from multiple companies, and all related documents shall be kept.
    3. Employees shall not respond to unfair and unfair transaction requests from partner companies that use their special relationships and interests (employment of our retired employees), etc. with the company.


    Article 12. Prohibition of speculative activities
    Employees shall not engage in speculative activities such as gambling that are outside the scope of accepted social norms.


    Article 13. Prohibition of sexual harassment
    1. Employees shall understand that sexual harassment not only violates individual human rights and harms the working atmosphere at work, but also can damage the corporate image and lead to legal actions. Thus, all employees shall prevent such problems from occurring.
    2. Employees shall not engage in any acts of physical, verbal, or visual sexual harassment that may cause sexual humiliation, such as the following:
    A. Any act that causes one to feel sexually humiliated, disgusted, or intimidated while at work
    B. Any act of making unnecessary physical contact
    C. Any act of forcing people to serve drinks, dance, or sing at company dinners, etc.
    D. Using sexist language or exhibiting sexist behavior, etc.

  • Section 3. Prohibition of accepting money or other valuables

    Article 14. Financial transactions
    1. Employees shall not engage in financial transactions such as lending, loan guarantees, or real estate leases with interested parties.
    2. If a financial transaction with an interested party is unavoidable due to a personal relationship, the employee shall report it to the audit department.

    Article 15. Acceptance of money, etc.
    1. Employees shall not request nor receive money or valuables from interested parties under any pretext.
    2. Proxy payment of one's own expenses from an interested party shall also be considered receiving money or valuables.
    3. Even if an employee receives money or valuables through an executive, employee, family member, relative, or acquaintance, it shall be considered an act of his/her own doing.
    4. However, souvenirs distributed by interested parties for promotional purposes, or souvenirs normally provided to attendees at events hosted by interested parties shall be considered exceptions.
    5. Should an employee unknowingly accept money or valuables, he/she shall return them immediately.

    Article 16. Entertainment
    1. Hospitality within what is considered a normally acceptable level may be exchanged with interested parties.
    2. Employees shall not accept entertainment that is considered beyond a normally acceptable level, and if he/she has no choice but to accept, he/she shall report it to his/her Team Manager.
    3. In cases where entertainment exceeding a normally acceptable level is provided to interested parties at the company's expense, or when participating in an event that includes entertainment exceeding a normally acceptable level, approval from the Team Manager shall be obtained in advance.

    Article 17. Acceptance of favors, etc.
    1. Employees shall not accept favors, benefits, etc. such as transportation or accommodations paid by the interested party.
    2. However, favors, benefits, etc. provided universally to all attendees at events hosted by an interested party shall be considered exceptions.

    Article 18. Congratulatory or condolence money
    1. In principle, employees shall not notify external interested parties of any personal event (weddings, funerals, etc.) that occurs to themselves or colleagues.
    2. Should an employee receive a congratulatory or condolence payment that exceeds the normally acceptable level from an interested party, he/she is recommended to return it.
    3. If an employee receives items such as wreaths provided in connection with personnel appointments such as promotions, transfers, etc., they must be handled in compliance with rules provided for congratulatory or condolence money/items, and if the quantity exceeds a normally acceptable level, they must be turned down or returned.

    Article 19. Events
    1. During team-level events (team dinners, sports competitions, workshops, etc.) or club activities, employees shall not receive any money or valuables from interested parties.
    2. Participation in an event by interested parties and provision of conveniences such as vehicles, location, and services required for the event shall also be considered money or valuables provided.

    Article 20. Honorarium for external activities
    1. If an employee receives an external request for speeches, lectures, seminars, discussions, contributions, publications, etc. related to his/her job, he/she must report the details of the request and honorarium in advance to his/her Team Manager and audit department. (Anything that cannot be reported before an external activity shall be reported after the fact.)
    2. In principle, honorariums and conveniences for external activities requested in relation to an employee's duties shall comply with the standards of the requesting organization, but must not exceed a normally acceptable level. (Pursuant to the Improper Solicitation And Graft Act, the maximum honorarium is capped at KRW 400,000 for public servants and KRW 1 million for teachers, faculty, and journalists (per hour or per contribution.)