KT&G on June 8 published its business ethics charter, which contains common standards of conduct for its companies, the firm announced in a statement.
Approximately 20 people attended the proclamation ceremony for the “KT&G Group Ethics Charter” at the Courtyard Marriott Namdaemun Hotel in Seoul, including KT&G President Baek Bok-in, representatives of seven domestic subsidiaries and compliance officers.
The third revision of the charter since its inception in 2003 aims to reflect the altered business environment, and covers global business expansion and reinforced ESG management, among other provisions.
Based on the company’s management philosophy of “An upright company, a conscientious company, and a shared company,” the ethics charter contains eight themes and 31 items. The primary topics are business ethics, protection of assets and information, domestic and international transactions, and social responsibility. Responsible research and development and social media use were added as new subcategories.
This ethics charter is distributed in eight languages to 21 companies, including overseas corporations and domestic and foreign subsidiaries. Moving away from the legal text format, it provides a more specific and understandable code of conduct through the use of descriptive phrases and the addition of practically applicable examples.