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Fair Trade Compliance Program (CP)

GS E&C introduced the Compliance Program by the approval of the board in May 2021.

GS E&C will become a sustainable and reliable Global GS E&C by creating a fair trade climate and strengthening corporate competitiveness through the operation of a fair trade compliance program, which is an autonomous compliance system.

What is the Compliance Program ?

Compliance Program image

Compliance Program (CP) is an internal compliance system and a code of conduct which is introduced and operated autonomously by companies in order to comply with the laws and regulations related to fair trade.
CP is an establishment of a system which prevents violations of fair trade related laws in advance and in addition detect and rectify violations at an early stage.

Key 8 Factors in Compliance Program

Key 8 Factors in Compliance Program

  • Prepare and execute standard and procedure for CP
  • Announce the will and support of CEO for CP
  • Appoint manager responsible for CP
  • Create and use compliance manual
  • Execute compliance training on employees
  • Establish internal monitoring system
  • Impose restriction on employees who violated Fair Trade Act
  • Evaluate its effectiveness and prepare improvement measure

Operation Stage of Compliance Program

Operation Stage of Compliance Program

  1. step 01 Establishment of execution system
    • CEO announced compliance policy.
    • Appoint a manager responsible for CP.
    • Establish an internal control system
  2. step 02 Facilitation of compliance
    • Compose compliance manual.
    • Conduct compliance training.
    • Operate internal monitoring system.
  3. step 03 Effective operation of CP
    • Manage document systematically.
    • Evaluate the outcome of operating CP.
    • Improve internal procedure and system.

Incentive System on Enterprise Running Compliance Program

Incentive System on Enterprise Running Compliance Program
Evaluation grade Public announcement
of order		 Exempted from ex officio
investigation of FTC		 Reduction of
Penalty Point
AAA Exempted 2 years 2 Points
AA Reduction 1 year and 6 months 1 Point
A Reduction 1 year -

Compliance Program Operation Formation

Compliance Program Operation Formation

  1. CEO
  2. Compliance Officer
    1. CP Team
    2. Departmental person in charge of CP
    1. Compliance Council

Compliance Officer

Compliance Officer
  • Chairman of the Compliance Council
  • Report to CEO on operational status
  • Mainten and share the status of various laws, regulations and cases
CP Team
  • Operation of the applicable affairs related to the CP
  • CP grade evaluation and management
Compliance Council
  • Assistant for work performance of the Compliance Officer
  • Make suggestions related to the CP
Departmental person in charge of CP
  • Overall compliance inspection of the pertinent department
  • Management of inspection results for each part and report to the Compliance officer