Hanwha Solutions Chemical Division has introduced its Compliance Program in 2003 and has since been diligently involved in its
implementation. The program aims to protect consumer rights and promote a balanced economic development of the nation, by abiding all
related laws and regulation, including the Monopoly Regulation and Fair Trade Act, Fair Transactions in Subcontracting Act, and the Fair Agency
Committee on Insider Trading
The committee on insider trading has been in operation since 2014. It reviews and deliberates on insider trading, to comply with the Monopoly Regulation and Fair Trade Act.
Right Path Partnership
Compliance with fair trade principles for the consumers - Hanwha Solutions Chemical Division will do its best to abide by all fair trade principles, to protect the consumers (client companies).
- We pledge to do business with consumers (client companies) under fair conditions and methods.
- We pledge to make products that meet the safety requirements for our consumers (client companies).
- We pledge to provide consumers with correct information about Hanwha Solutions Chemical Division’s products.
- We pledge to be fair in writing up the terms and conditions of a transaction with consumers (client companies).
- We pledge to not include any wrongful indications or advertisements in our product ads and company PR.
- We pledge to comply with all fair trade related laws and regulations in our relationship with the consumers.
Fair Trade Act Ombudsman
All stakeholders, including our employees, employees of our business partners and customers of Hanwha Solutions Chemical Division, may seek
consultation or report any suggestions or act of unfair trade practices, by our employees or any other employee at our business partners.
Reports of misconduct or unfair trade practice must be submitted under a real-name basis, but the investigation will be conducted discreetly.
The report will be handled in a prompt manner; fact-finding and compliance check will be conducted, and necessary measures will be taken
according to relevant laws and regulations. We will notify the result to the original reporter though the specified channel of choice.
Fair Trade Act Ombudsman check-list and items that require consent
01 Consultation and report
- When the company fails to fulfil its duties (such as failure to pay subcontracting payments on time, failure to provide written documents/ contracts, failure to notify inspection results)
- When the company commits inappropriate actions (such as unreasonable rejection to receive finished product/services, unwarranted cut back on subcontracting payments, unsolicited interference in business partner’s management)
- Violation of Fair Trade Act (such as creating a cartel, doing insider trading, or abusing monopoly power)
- Other suggestions and comments regarding fair trade, subcontracting, win-win partnership etc.
02 Fair trade Consultation Center
- AddressCompliance Office, 22nd floor, Hanwha Building, 86 Cheonggyechen-ro, Jung-gu, Seoul
Code of conduct
- 01We shall strive to become a trusted company by the customers through trust and loyalty and always respecting the opinions of the customers.
- 02We shall abide by all laws and regulations, respect the business practices and pursue fair competition in the markets and regions we conduct our business.
- 03We shall work with our business partners under transparent and fair trade practices, maintain mutual trust and cooperation and promote mutual growth.
- 04We shall not use our advantageous position to impose unfair practices to our business partners, nor receive any money, special treatments, entertainment or conveniences from our business partners.
- 05We shall not provide or disclose the company’s internal information and customer information to outsiders.
- 06We shall not use company property or money for private usage.
- 07Borrowing and lending money, providing gifts or surety between employees are prohibited in principle.
- 08We shall not discriminate on the basis of disabilities, gender, religion, nationality, ethnicity, hometown, kinship, or education. We shall make all efforts to respect each other to lead a rewarding work life.
- 09We shall actively participate in social volunteering activities.
- 10We shall exert full efforts in developing eco-friendly products and services, while preventing accidents through thorough safety inspection and management.
Hanwha Solutions Chemical Division has published an ethical business practice guideline that contains information on how to respect the
customers and comply with laws and practices of trade. The guideline is presented to all the stakeholders, both in and out of the company,
as the basis for their judgement and code of conduct. All employees are reminded of this standard at every holiday and special occasions,
to refresh their mindset.
- Practice guideline
- Hanwha Solutions Chemical Division has established and distributed the ethical business practice guideline, which explains in details how receiving bribes, sexual harassment at the workplace and abuse of power are all strictly prohibited. The guideline can help employees to apply the spirit of the code of ethics in their daily activities. When you violate this guideline, you must fill out and submit a self-monitoring report to the management executive in charge.
- At every holiday and special occasions, all employees receive a reminder on the ethical business practice guideline through the company’s intranet bulletin board. We also ask for cooperation from our business partners, so that together we can build a transparent and fair culture of mutual trust.
- All stakeholders, both in and out of Hanwha Solutions Chemical Division, can report any misconduct, corruption and unfair practice that violates the code of ethics and the code of conduct, to the Compliance Office via phone, fax, email or the company homepage bulletin board. The Compliance Office fully protects the identity of the informant. By operating the ombudsman, Hanwha Solutions Chemical Division promotes fair and rational business practice.
- Principle on advertisement and sponsorship
- We do not endorse inappropriate marketing communication and only execute lawful advertisement and sponsorship, under the principle of fairness and efficiency. Hanwha Solutions Chemical Division abides by all related laws and regulations regarding advertisement activities, and have not been penalized for any violation to date.