Ethical Management Overview
We hereby declare the following code of ethics to set standards for desirable behavior and ethical judgment.
Kumho Petrochemical, with a responsible attitude toward customers, shareholders, employees, humanity, and the environment, remains faithful to fundamentals and principles, prioritizes corporate ethics, and practices values that exceed the highest standards. To this end, we establish ethical standards that all employees must follow as criteria for desirable behavior and value judgment.
| 1. General Provisions | 4. Ethics toward Employees |
| 2. Ethics toward Customers and Business Partners | 5. Ethics toward Nation and Society |
| 3. Ethics toward Shareholders | 6. Ethical Management Operation |
Chapter 1 General Provisions
Article 1 (Scope of Application)
All employees of the company act in accordance with this guideline toward all stakeholders including customers, shareholders, business partners, employees, local communities, and government.Article 2 (Employee Obligations)
1. All employees of the company must understand their roles in performing their duties, comply with laws, ethical standards, and related regulations and guidelines, and will be subject to disciplinary action according to related regulations and procedures in case of violation.2. All employees of the company must promptly report to senior management and the ethical management department according to established procedures when they or others violate ethical standards or are forced to violate them.
3. All employees of the company must recognize that they cannot be exempted from responsibility for not knowing ethical standards and related regulations, and must consult with senior management or the ethical management department if they have questions or concerns about violations.
Chapter 2 Ethics toward Customers and Business Partners
Article 3 (Customer Respect)
1. We prioritize customer satisfaction and respect customer opinions with integrity and honesty.2. We protect customer information with the same duty of care as company assets and do not disclose information or use it for other purposes without prior customer consent.
Article 4 (Customer Value Creation)
1. We create differentiated ideas that break existing practices and success methods.2. We provide high-quality products and services at the right time and keep our promises to customers.
Article 5 (Fair Trade)
1. All transactions are conducted fairly on an equal footing, with sufficient consultation on transaction conditions and procedures, and are not changed without justifiable reasons.2. When new companies want to start transactions with the company, we select and register business partners based on fair evaluation criteria to provide equal opportunities.
3. We do not make unreasonable demands using our superior position or receive improper money or benefits. When it is unavoidable to receive money or other benefits, we report to the ethical management department.
4. When we cause damage to business partners due to company errors, we compensate fairly.
5. Employees must not burden stakeholders such as customers and business partners for celebratory or private purposes.
6. We regularly collect opinions from partner companies and appropriately reflect them in our business.
7. We do not engage in unfair practices prohibited by laws related to fair trade.
8. We comply with international norms and related laws for marketing and labeling, and do not use expressions that may cause confusion to customers.
Article 6 (Pursuit of Free Competition)
The company contributes to the development of a fair society without corruption by improving the fairness and reliability of transactions such as anti-corruption and fair competition, and strives to eliminate anti-competitive practices.Article 7 (Pursuit of Mutual Development)
All employees of the company strive to transfer know-how within all possible scope so that partner companies can grow together with the company.Chapter 3 Ethics toward Shareholders
Article 8 (Protection of Interests and Guarantee of Rights)
1. All employees of the company make maximum efforts to enhance shareholder value through profit maximization through selection and concentration.2. The company processes decision-making and execution processes related to corporate management and financial status in accordance with relevant laws and generally accepted accounting standards.
3. The company respects shareholders' right to know about corporate management and faithfully discloses company information to shareholders.
Chapter 4 Ethics toward Employees
Article 9 (Employee Respect)
1. The company respects human dignity and strives to promote diversity.2. The company strives to establish sound labor-management relations.
3. The company provides a safe and comfortable working environment for employees, creates an ideal workplace, and strives to improve quality of life.
Article 10 (Fair Treatment)
1. The company does not discriminate based on unreasonable criteria such as gender, education, age, religion, or place of origin in employment, promotion, compensation, and education.2. The company provides equal opportunities, establishes evaluation criteria for ability or performance, and treats and compensates fairly to increase motivation for business achievement.
Article 11 (Talent Development)
The company assigns duties to employees considering their aspirations, aptitudes, and abilities, and develops them into talents through continuous education and training.Article 12 (Basic Ethics of Employees)
1. All employees of the company should have pride and self-esteem as employees, maintain the company's reputation and personal dignity, and be respected and trusted by customers and business partners.2. Employees should observe basic etiquette and strive to create a culture of mutual respect and consideration.
3. Employees must not engage in inappropriate work instructions, verbal abuse, violence, fraud, sexual harassment, or workplace bullying, and must not engage in unhealthy behaviors such as drinking, gambling, or speculation in the workplace.
4. Employees must not engage in monetary transactions, joint guarantees, or gift exchanges among themselves. However, condolence money within the scope recognized by social norms when celebratory events occur is excluded.
Article 13 (Completion of Mission)
1. Employees should engage in fair and good-faith competition with legitimate strength inside and outside the company, and complete their assigned tasks with a proactive attitude and creative thinking.2. Employees maximize business results and efficiency through active cooperation and smooth communication with colleagues and related departments.
3. Employees should establish correct values and continuously strive to meet the talent image through continuous self-development.
Article 14 (Fair Performance of Duties)
1. Employees should perform all duties accurately and honestly, and must not intentionally manipulate documents and calculations or make false reports.2. Employees should accurately recognize their authority and responsibility in performing their duties and take responsibility for the results themselves.
Article 15 (Avoidance of Conflicts of Interest)
1. Employees cannot engage in transactions with the company in the name of themselves or interested parties. However, cases approved by the company in advance are excluded.2. Employees cannot participate in or invest in the management of companies that have direct or indirect transactions with the company without prior reporting and approval.
3. Employees must not receive assets, money, or other benefits inappropriately from interested parties or engage in mutual lending.
Article 16 (Protection of Company Assets and Security Maintenance)
1. Employees use all tangible and intangible assets of the company only for business activities and approved purposes.2. Employees must not use company property, supplies, or materials for private purposes.
3. Employees should actively protect all information about interested parties obtained during business execution in accordance with security management regulations and maintain confidentiality permanently even after leaving the company.
4. Employees cannot disclose important company information that may affect the company's stock price or investor decisions without prior permission, or use it for personal gain such as stock investment.
5. Employees should make maximum efforts to prevent company information leakage when using computers and various equipment.
Chapter 5 Ethics toward Nation and Society
Article 17 (Reasonable Business Development)
The company respects social values, customs and order of transactions, and creates social wealth through sound business activities.Article 18 (Contribution to Social Development)
1. The company contributes to national development through job creation and honest tax payment, and actively cares for the socially disadvantaged.2. The company actively strives to accept and resolve legitimate demands from all sectors of society and local residents.
Article 19 (Prohibition of Political Activity Involvement)
The company does not support or sponsor specific political parties or politicians, and must not force other employees to do so. However, it can express its position on policy formulation or legislation related to the company's interests.Article 20 (Environment and Safety)
1. The company complies with environmental laws and international agreements and makes maximum efforts to prevent environmental destruction, pollution, and damage caused by business activities.2. The company secures and operates pollution prevention facilities and personnel necessary to prevent environmental pollution.
3. The company strictly complies with relevant laws and standards for safe operation and makes maximum efforts to prevent safety hazards in advance.
4. Employees should make workplace organization and tidiness a habit to create a comfortable and safe working environment.
Chapter 6 Ethical Management Operation
Article 21 (Responsible Organization)
1. The executive in charge of ethical management comprehensively directs and supervises the establishment and implementation of ethical management practice plans on behalf of management.2. The organization in charge of ethical management performs comprehensive ethical management tasks of the company such as establishment, coordination, operation, and supervision of ethical management systems.
Article 22 (Ethical Management Education and Evaluation)
The executive in charge of ethical management takes necessary measures such as system establishment and ethical management education, guidance, and evaluation so that employees can perform their duties in a legitimate manner.Article 23 (Implementation)
Employees must comply with these ethical regulations and ethical management practice guidelines, and will be subject to severe disciplinary action in case of violation.Supplementary Provisions
Article 1 (Effective Date)
These ethical regulations are revised and implemented from June 29, 2021.Article 2 (Relationship with Other Regulations)
Ethical regulations and ethical management practice guidelines take precedence over other regulations within the company.



