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Ethical Management

Introduction of ethical management

Since its foundation in 1994, Shinhwa Construction Co. has cultivated its capacities through continuous management innovation

and technology development, based on the company motto, "Let's lead today and initiate tomorrow"

Currently, ethical management adopted and practiced by many companies as an essential management strategy.

Shinhwa Construction Co. made and proclaimed the Code of Ethics and the Code of Behavior, and, to make the company a transparent one,

built a home page and internal network. It has unfolded various activities such as revealing unethical and unjust behaviors.

Please pay attention to the Shinhwa Construction which, through honest management, tries to be a trusted organization. Please give us advice on it. 


Ethical Management Charter

Modern society is developing very rapidly, and the construction industry needs management guidelines because of changes in laws and rules.

Shinhwa Construction, which has tried to manage it based on honesty and trust since its foundation,

established the Ethical Charter and the Code of Ethics to set up and practice ethical values.

To realize fair relationships with customers and cooperative companies, and fair competition with our competitors,

we systemized reward and punishment by establishing new rules, changing the organization oriented toward ethical management,

and evaluating performance.

In addition, we periodically practice education for ethical performance to our executives and employees and those in cooperative companies.

We also try to expand our efforts to participate in movements of realizing a society where all the people can live together

and of returning our profits to the society.

We, all the staff and executives and employees will continue to observe ethical values. 


The Code of Ethical Management

1. Responsibility to the country and society
① By creating employment and paying taxes, we contribute to national development, and conduct our responsibility and duty as a corporate citizen.
 ② We respect and observe the market order, and pursue fair and good-willed competition.
 ③ We try our best to enhance quality of life of local people by making efforts to prevent pollution and improve the environment.
 ④ We actively support social activities and volunteer activities including disaster relief,

     and prepare various conditions to allow our executives and employees to be able to participate in such activities.
 ⑤ We refuse unreasonable deals harming healthy business activities.
 ⑥ We humbly accept just demands of local residents and others.
 ⑦ We provide equal opportunities of employment to anybody regardless of schooling, gender, religion, hometown, being handicapped, or marriage.

2. Observance of laws and rules & Fair competition
 ① We do not unduly infringe interests of our competitor, and take advantage of its weakness.
 ② We do not steal visible and invisible properties of our competitor.
 ③ We do not do any behavior damaging the fair market order.
 ④ executives and executives and employees shall not offer or provide bribe or other improper things to interested parties.
 ⑤ In making subcontract deals and works, executives and executives and employees shall not receive any money, gift, treatment, conveniences,

     or other improper grants, and provide such things to an interested party.
 ⑥ executives and executives and employees shall behave following the social norms, and high ethical values not to mention positive laws.

3. Respect of executives and executives and employees & Cultivation of able men
 ① Shinhwa Construction Co. shall be equipped with a system allowing executives and executives and employees to perform with just methods with

      the spirit of ownership, and direct them on the system.
 ② The company shall suggest a desirable image of employee and provide various opportunities allowing executives

     and employees to improve efficiencies.
 ③ The company shall provide equal opportunities to its executives and employees, and evaluate them with fair standards and reward them.
 ④ The company shall encourage creative thinking and autonomous behavior of executives and employees and actively support ability cultivation of them.
 ⑤ The company shall make the atmosphere where executives and employees can freely suggest and demand, and consult about their problems,

      and establish a needed system.

4. Ethics of executives and employees
 ① Executives and employees shall share the ethical management ideals of the company, maintain their dignities and reputations with always honest

      and diligent postures, and shall not do any immoral and unethical behavior.
 ② Executives and employees shall make the best decisions within their rights according to the management guidelines of the company,

      and diligently perform their duties, and bear responsibility for the results of their performances.
 ③ In performing their works, executives and employees shall not do neglect of duty, carelessness of management

     and supervising, and unfair transactions.
 ④ Through active mutual cooperation and smooth communications, executives and employees shall destroy department egoism

      and enhance work efficiency.
 ⑤ Executives and employees shall make working conditions and safety apparatuses as designated by laws, rules, and standards,

      and make it a custom to do prevention and inspection.
 ⑥ Executives and employees shall make efforts to create a healthy organizational culture based on smooth communications between boss

      and subordinates and between colleagues and mutual trust.
 ⑦ Executives and employees shall not receive any money, gift, treatment, conveniences and others provided by a cooperative company or

      an interest party, and, if they unavoidably receive such things, they shall report them following 'the procedure of report.'

▣ Report procedure  ▣
- Step 1: The employee shall immediately report to his or her head of the team (Head of the team shall report to the head of the department).
- Step 2: Within 2 days after receiving money, gift, treatment, or conveniences, the employee shall write the Receipt Report and report it

              in written form to his or her boss, and submit it to the Ethics Support Team.
- Step 3: On the received money or gift, in principle, the head of the team shall explain it to the Ethics Support Team, and return them with

              the amount equivalent to the money or gift received to the person.
- Step 4: If it is impossible to return the reported money or gift to the person, it is used for social activities.
- Step 5: Department head identifies the results of the treatment, and notifies them to Ethics Support Team.
 ⑧ Executives and employees shall maintain the company properties, and protect the company secrets acquired while working.
 ⑨ Executives and employees shall establish the image of able men desirable in the age of internationalization and globalization,

      and, through continuous self-development, make efforts to fit such a image.
 ⑩ Executives and employees shall keep basic etiquettes in workplace.
 ⑪ All the executives and employees shall submit the written oath to observe ethics.

5. Responsibility to the client and public good
 ① The company shall put public good as the first priority, and always think and behave for public good.
 ② The company shall provide the highest quality products which can make people using them satisfied with and trust the company.
 ③ In providing after-sale service, the company shall respect its clients and people, and actively adopt it in management activities.
 ④ The company shall make incessant efforts in innovation which can serve public good and give satisfaction to people.
 ⑤ The company shall tell only truths to clients using the products of the company, and keep what it promised to clients.

 6. Responsibility to cooperative company
 ① Registration and selection of a cooperative company shall be done in objective and fair standards, using a rational method.
 ② Executives and employees shall not put unfair pressure on a cooperative company, or force unfair transactions, and pursue private gains.
 ③ If a cooperative company (executives and employees of the company) provides money and other things to executives and employees

     of Shinhwa Construction, it can get disadvantage in transactions with it.
 ④ Shinhwa Construction and cooperative company settle down mutually beneficial management by providing fair opportunities

     to the cooperative company and constructing mutual trust and cooperation relations.
 ⑤ In all transactions with cooperative company, executives and employees of Shinhwa Construction make a standard contract with it

     with the conditions appropriate in company ethics, and observe it.
 ⑥ Executives and employees of Shinhwa Construction shall support cooperative company making efforts to improve levels

     of company ethics with various means such as education and provision of resources.
 ⑦ Executives and employees of Shinhwa Construction shall consider and respect those in the cooperative company as family members.

7. Measures if someone violates the Code of Ethics
 ① If an executive or employee is confused of whether a specific action violates the Code of Ethics, he or she shall consult with the head

     of Ethics Management Team before doing the action.
 ② If an executive or employee discovers that other executive or employee has done a wrong behavior, the executive or employee

     shall write Receipt Report on money, gift, treatment and conveniences, and report it to the Ethics Support Team.
 ③ Receiver of the report shall protect the person who wrote the report and the contents of the report, take care the person who reported it shall

     not have any disadvantage.
 ④ The Ethics Support Team shall identify reported violation ad provide the target of the report to explain the behavior.
 ⑤ The Ethics Support Team can use this code to take a measure like punishment to an executive or employee after the resolution

      of the Ethics Committee attnded by the Ethics Support Team and the chairman of the Ethics Committee.