Business Ethics
The aim of Hankook Tire is to establish company-wide ethical awareness for a transparent and healthy corporate culture where all stakeholders and employees can come together as a single entity.
Key Achievements
Background
Today, companies are required to maintain higher ethics as their businesses exert increasingly greater impacts on nations and local communities. For example, they are required to establish and execute management system meeting anticorruption regulations such as Bribery Act of the U.K., Foreign Corrupt Practices Act of the U.S., and Improper Solicitation and Graft Act of Korea. In response, Hankook Tire considers obtaining the ISO37001 certification (Anti-Bribery Management Systems).
Risk & Opportunities
The awareness of business ethics makes significant influences on corporate reputation and the level of social responsibility. Negligence in managing employees’ awareness of ethics management can cause corruptions and irregularities and consequently damage corporate image, while consistent efforts for regularly improving their awareness of ethics management will lay a foundation for sustainable growth.
Management Direction
Hankook Tire is proactive in monitoring ethical risks and raising the awareness of ethics management to build solid ethical culture throughout the company. To this end, we have established an online ethics training system and conducted collective trainings. We also operate whistleblowing systems such as cyber audit office and Shinmungo and implement regular monitoring and survey to further enhance ethics management.
Responsible Organization
Ethics Management Committee
• Chaired by: Audit Department Director
• Supervised by: Audit Team
• Cooperation members: Purchasing Planning Team, Human Resource Management Team, R&D Planning Team, Global OE Planning Team, Global Marketing Strategy Team, Corporate Management Team 1
Plans & Outlooks
Ethics management serves as a key value that ensures corporate competitiveness and sustainability in the era of global competition. For better execution of ethics management, Hankook Tire will continue to offer more efficient and professional trainings by job, position, and region and enhance the function of ethics management Help Desk. Moreover, we will establish a risk evaluation and management tool and prepare relevant risk response processes to manage risks more efficiently.
