TO BE FUTURE
CP (Fair Trade Compliance Program)
CP (Compliance Program) is a program which is introduced and implemented voluntarily by business operators for
the improvement of understanding and autonomous compliance with the laws related to fair trading and anti-corruption.
Unless stated otherwise, it means the autonomous compliance program of our company in this site.
- Mission of CP
Contributing to the improvement
of quality of human life through
partnership with client companies
based on win-win and ethical
- Vision of CP
Becoming a leading
industrial and real-life
chemical company with
a high level CP in the industry
- Goal of CP
Establishment of win-win
and ethical management
as a corporate culture
Believing that “it is impossible to conduct fair business activities and develop the company
without observance of CP”, SHINSUNG Industrial Co., Ltd. is establishing a corporate culture of
win-win and ethical management based on firm CP principles.
The 7 core elements of CP
- Expression of the will to observe CP by the CEO
It is more important than anything else for the establishment of a culture of fair trade in the company that the CEO states the will to
observe CP and expresses interest in it. The CEO needs to deliver a clear message that CP is one of the major elements for
corporate management and all the employees should comply with it.
- Appointment of the CP Manager
The CP Manager will manage and operate CP efficiently with substantial rights and responsibilities for CP operation as
the center of CP. The CP Manager shall be appointed out of those who are well-informed about the laws related to fair trade and
the policy and procedures of the company. In principle, the CP Manager shall be a person who is not handling production, sales,
purchase, labeling and advertisement and customer support directly.
- Publication and distribution of Compliance Manual
The CP Manager shall prepare the Compliance Manual, which is internal guidelines for CP, and post it in the Intranet or
homepage of the company to inform the matters about CP to the executive and employees of the company and other stakeholders.
It is desirable that the Compliance Manual be updated periodically according to the change of the company’s businesses, revision of laws related to fair trade, change of court decision, etc.
- Education of executives and employees
The CP Manager shall conduct periodical education for the company’s executives and employees on the specific cases that violate fair trade laws in their respective duties. The efficiency and working ability of the members of the company will be increased if the departments and employees handling works that may easily violate fair trade laws are educated with proper education programs. It is obligatory to conduct the education at least twice a year.
- Monitoring and supervision system
What is the most important in the operation of CP is prevention of violation of laws and monitoring offenses.
Therefore, it is necessary to set up and operate the internal monitoring system composed of audit, reporting, etc.
In particular, a department which is likely to commit unfair trade practice easily shall be monitored and supervised regularly.
The CP Manager shall perform auditing at least twice a year and report the result of audit to the CEO.
- Sanctions against violation
The CP Manager shall prepare internal regulations that stipulate immediate investigation of a matter that may violate fair trade-related laws or is suspected to have violated fair trade-related laws and imposing proper sanctions against violation of fair trade-related laws by an executive or employee of the company after sufficient consultation with the CP Committee, the CEO and the heads of concerned departments. The company has no obligation to report the sanctions imposed against violations discovered by the company’s own investigation to competition authorities, and the Fair Trade Commission does not use it as an evidence for law enforcement.
- Document management system
The CP Manager shall record and retain all the documents, photos, computer files, etc. related to the operation of CP.
The materials related to the operation of CP should be retained especially because the materials related to the operation of CP and monitoring, reports submitted to Fair Trade Commission, the proof for a problematic acts according to competition laws are required at the time of evaluation of CP level.
SHINSUNG Industrial Co., Ltd. appointed the CP Manager at every affiliate company and authorized the CP Manager
all the rights and responsibilities for the operation of the CP. The basic frame of the CP management at SHINSUNG Industrial Co., Ltd. is
that the Head of Business Operation Office is the CP Manager who cooperate with the CP Team of SHINSUNG Industrial and
make direct reports to the CEO and the BOD. In addition, the meeting of the CP Committee composed of the executives of
affiliated companies is held frequently for sharing of various CP issues and control of enterprise risk of violation of CP.
Operation and management of CP
- Risk management
- Reward / Sanction
- Report system
- CP Regulations/Guide
- CP Education
- Will of CP
SCOPE OF CP
The CP at SHINSUNG Industrial Co., Ltd. aims to maintain legitimate and fair transaction culture throughout the entire businesses of the company.
To Be Future
We are making a better future with equal opportunity and transparent transaction.