Sungshin Cement Co., Ltd.


Sustainability Management


Ethical Management

Realization of an incorruptible and sound organizational culture

Sungshin Cemen's directions and principles for ethical management are one of our four major management policies and include righteousness management to compete fairly with other competitors in the market based on ethical management, compliance with laws and regulations, fair trade to build trust from customers, and increasing the value of our company and and our shareholders. Based on this, we promise our customers to fulfill our social responsibilities. We have enacted our own code of ethics to define the standards for right behaviors and value judgments for the "ZERO" of corruption by concretely implementing the afore-mentioned directions and principles for ethical management. In addition, we are realizing a sound organizational culture by operating various programs, including anti-corruption education, operation of a reporting system for violations, etc.

Ethical management strategy

Management organization for compliance and ethical management

Sungshin Cement has designated the Audit Team as a department dedicated to compliance and ethical management and is striving to realize an incorruptible and sound organizational culture through organic cooperation and support from the Audit Committee, Personnel Committee, and Legal Affairs Team.

Activities and achievements for compliance and anti-corruption

Sungshin Cement's code of ethics
Sungshin Cement's code of ethics consists of Chapters 1 to 8 (Articles 1 to 27) that present the standards for right behaviors and value judgments that our employees must obey. We actively encourage our stakeholders as well as members of our company and domestic and foreign investment companies with management rights to our company to understand and obey our code of ethics.
  • Chapter 1. General Provisions

    • Purpose
    • Scope
    • Target
    • Definition of terms
    • Code of conduct
  • Chapter 2. Basic Ethics for Employees

    • Establishment of a sound corporate culture
    • Faithful fulfillment of duties
    • Fair job performance
  • Chapter 3. Responsibilities for Executives and Employees

    • Respect for human
    • Cultivation of talents
    • Fair evaluation
    • Responsibility for health and safety
  • Chapter 4. Social Responsibility

    • Contribution to national and social development
    • Raising shareholder values
    • Environmental management
  • Chapter 5. Attitude toward Customers

    • Respect for customers
    • Valuing credibility
    • Provision of values
  • Chapter 6. Fair Trade and Competition

    • Respect for laws and commercial customs
    • Fair trade
    • Fair competition
    • Pursuit of mutual benefits and development
  • Chapter 7. Management of Corruption Risks

    • Definition and Types of Injustice
    • Management of corruption
  • Chapter 8. Operation of Code of Ethics

    • Responsibility
    • Reporting of violations and protection of informants
    • Obligation to comply and pledge
Violations reporting system
Sungshin Cement operates a real-name and anonymous reporting system (cyber report on the website) to allow our employees to report the violations of our code of ethics, and we thoroughly guarantee the confidentiality of all matters received through the reporting system in accordance with the internal regulations for the protection of informants. If matters related to corruption and irregularities are confirmed to be true after investigation, we take disciplinary measures against the violator according to the severity of the matters.
Rewards for reporting compliance violations and corruption
Sungshin Cement stipulates the rules regarding rewards for informants who have contributed significantly to our company's interests in the code of ethics in order to further strengthen the integrity and anti-corruption of our employees and eradicate corruption and irregularities that damage our corporate image and reputation.
Operation of the voluntary reporting system
Sungshin Cement defines the scope and standards of actions prohibited for the performance of our employees, and we encourage the party concerned to make an inquiry to or voluntarily report to the Audit Department in cases of ambiguity. In addition, we prohibit our employees from asking for or providing money, valuables, hospitality, convenience, etc. to stakeholders. If employees inevitably received money and valuables without being aware of the fact or against their will, they must immediately return them to the party concerned, but if they can't, they must submit it to the Audit Department along with a ‘Notification of Receipt of Money and Valuables’.
Pledge of vocational ethics
All members of Sungshin Cement are obligated to obey and pledge to fulfill the code of ethics, and we take measures against violators of the code of ethics in accordance with our internal regulations. To this end, we require our members to sign a pledge for our vocational ethics on a regular basis each year.
Anti-corruption education
Sungshin Cement provides our employees with compulsory education regarding ethical management for workplace harassment and sexual violence prevention in line with national policies. We conducted online anti-corruption education for the first time in 2020 (content: ethical management, long-run mate of responsible companies; time of education: 1 hour) in order to realize an incorruptible and sound organizational culture, and a total of 228 employees received the relevant education. In the future, we plan to expand a more strengthened education curriculum on anti-corruption and conduct customized education for each position.

Integrity and ethics education plan by position

Evaluation of corruption risks
Sungshin Cement defines the definition and types of corruption and conducts the evalution of corruption risks on a regular basis to prevent corruption and effectively respond to risks caused by corruption. Based on this, the Audit Department utilizes measures, such as improvement, measures, recurrence prevention, etc., regarding corruption or factors thereof in connection with audit plans and tasks.
Operation of the internal control system and audit system
Sungshin Cement is strengthening the transparency of our corporate financial reporting and internal accounting management system through the internal control system. In 2020, we confirmed that our internal accounting control system is effectively designed and operated through an evaluation of the system's operation status. In addition, the review results of a report on the management's operation status of the internal accounting control system through the external auditor system confirmed that the system was prepared in accordance with the regulations of the best practices. We also monitor violations of the code of ethics and laws through various audits, including daily audits, regular audits, special audits, etc., immediately report the findings derived from such audit results to the CEO, and take corrective actions and follow-up management accordingly.
Sungshin Cement’s promises and resolutions
Sungshin Cement reports on cases of non-compliance and violations of the law in social and economic areas as follows and will reprimand the violators sternly, regardless of their positions, in the event of similar issues by conducting systematic and regular audits and taking preventive approaches, such as strengthening compliance and anti-corruption education, expanding the evaluation of corruption risks, etc. in order to prevent the recurrence of corruption in the future.

Beyond the
Social Responsibility

Sustainability Report of Sungshin Cement