Governance
Compliance Management
Establishing a Fair Corporate Culture
Based on Compliance Awareness
In line with the compliance management plans and direction set by the Board of Directors and the CEO,
HD Hyundai establishes a compliance governance and continuously implements compliance training and internal compliance audits.
Beyond Compliance to Trust,
Practicing Fair Corporate Culture
HD Korea Shipbuilding & Offshore Engineering is committed to establishing a fair and clean corporate culture founded on mutual trust and compliance awareness.
HD Korea Shipbuilding & Offshore Engineering has a dedicated Compliance Team, which oversees compliance management, aiming to raise employees' awareness of compliance and ensure thorough adherence to relevant regulations and stakeholder requirements.
The Compliance Team is responsible for planning and conducting compliance education, responding to legal issues that occur in the field, and managing legal risks through constant monitoring and inspection. In addition, we support the Self-Compliance Manager, appointed under the Fair Trade Compliance Program Operational Guidelines, and the Compliance Officer, designated in accordance with the Compliance Control Standards, to regularly conduct company-wide compliance training and assess the compliance status, with the results reported to the Board of Directors.
HD Korea Shipbuilding & Offshore Engineering Compliance Officer
Self-compliance Manager Executive Vice President Kim Minsung
Compliance Program
Compliance Declaration
Compliance Program Operation Regulations and Rules
Compliance Manual
Report Unfair Trade Practices
CP Performance
February 2004
Introduction of Compliance Program (CP) and publication of Compliance Manual
February 2014
Revision of Compliance Program Operation Regulations
November 2014
Complete revision of Compliance Manual Subcontracting section (2nd edition)
June 2015
Complete revision of Compliance Manual : Abuse of Market Dominance and Unfair Trade Practices Section (2nd edition)
December 2015
Complete revision of Compliance Manual: Unfair Collaborative Acts / Concentration of Economic Power section (2nd edition)
November 2017
Complete revision of Compliance Manual Subcontracting section (3rd edition)
March 2020
Partial revision of the Compliance Manual : Abuse of Market Dominance and Unfair Trade Practices Section (3rd Edition)
December 2020
Complete revision of Compliance Manual Subcontracting section (4th edition)
March 2023
Complete revision of Compliance Manual Subcontracting section (5th edition), Complete revision of Compliance Manual: Unfair Collaborative Acts / Concentration of Economic Power section (3rd edition), Complete revision of the Compliance Manual : Abuse of Market Dominance and Unfair Trade Practices section (4th edition)
January 2024
Partial revision of Compliance Manual Subcontracting section (6th edition)
July 2024
Revision of Compliance Program Operating Regulations, Enactment of Compliance Program Detailed Operational Rules
July 2024
Post Compliance Declaration
September 2024
Partial revision of Compliance Manual Unfair Collaborative Acts / Concentration of Economic Power section (4th edition), Partial revision of Compliance Manual : Abuse of Market Dominance and Unfair Trade Practices section (5th edition)
December 2024
Revision of Compliance Program Detailed Operational Rules
Self-Inspection Checklist
Unfair Collaborative Acts
(1)Do not discuss or exchange bidding-related information, such as participant details, successful bidders, bid volumes, or bid amounts, with other bidders in advance of competitive bidding.
(2)Do not exchange or discuss information about prices, production volumes, sales volumes, inventory levels, or shipment volumes with competing businesses.
(3)Do not participate in meetings to discuss such matters.
Unfair Trade Practices
(1)Do not unreasonably refuse to commence transactions with or discontinue transactions with specific businesses.
(2)Do not make it a condition of doing business that the counterparty exclude our company's or our affiliates' competitors from being potential business counterparties.
(3)Do not impede business activities by unfairly soliciting or hiring personnel from other businesses.
(4)Do not force suppliers doing business with our company to purchase our products.
(5)Do not force purchases by directly or indirectly indicating that future delivery will be affected if products are not purchased.
(6)Do not include contract provisions stating that only our company has the right to interpret the contract in the event of disputes over its interpretation.
(7)Do not require our company's instructions or approval regarding the appointment, dismissal, or change of executives and employees, or disadvantage those who do not comply.
(8)Do not require partner companies or subcontractors to obtain our company's prior approval when supplying products to other companies.
Unfair Intercompany Transaction
(1)When selecting an affiliate as a business partner, conduct thorough market research and follow reasonable comparison and review procedures.
(2)When transacting with affiliates, do not trade at significantly lower or higher prices than would apply in standard transactions.
(3)Do not include affiliates who have no substantial or minimal role in the transaction stages unnecessarily.
※ If you have any questions, please contact the Compliance Team.
Before Conclusion of a Contract
(1)Do not accept quotations that include cost-related information, such as material costs and labor costs, from subcontractors.
(2)Do not reduce unit prices by a uniform percentage compared to existing unit prices without legitimate reasons.
(3)Do not conduct additional negotiations for amounts lower than the lowest bid amount in competitive bidding.
Conclusion of a Contract
(1)Do not request commencement of work via email, verbally, or by phone before delivering the contract.
(2)Prepare and deliver a contract that specifies the legally required information, including the contract amount, delivery deadline, and payment terms, before work commencement.
(3)If subject to the subcontracting payment linkage system, a mandatory conclusion of a linkage contract (or a non-linkage agreement) with the subcontractor is required, and payment adjustment procedures must be implemented promptly according to the linkage contract when raw material prices change.
(4)Do not include contract clauses that are unilaterally favorable to our company, such as clauses that transfer liability for damages.
(5)Do not unilaterally change the contents of already concluded contracts or cancel contracts without legitimate reasons.
Contract Performance
(1)Do not terminate or cancel contracts for reasons not attributable to the subcontractor.
(2)Do not demand submission of management information from subcontractors without legitimate reasons.
(3)Do not request technical data without legitimate reasons, such as those required for inspection purposes.
(4)When requesting technical data from subcontractors, verify whether there are legitimate reasons, and if so, issue our standard technical data request form and conclude a confidentiality agreement in advance.
(5)Manage technical data received from subcontractors separately from our company's technical data, and discard or return the technical data when the usage period specified in the technical data request expires.
Payment
(1)Do not pay subcontracting fees more than 60 days after receipt of the deliverables due to our internal circumstances, such as delayed account changes.
(2)If payment is delayed, you are required to pay late payment interest under the Subcontracting Law.
(3)Do not reduce subcontracting payments due to our financial circumstances.
(4)Even if unit price reductions are agreed with subcontractors for legitimate reasons, do not retroactively apply the changed unit prices to periods before the agreement date.
(5)Verify whether the raw material price fluctuation rates meet the adjustment requirements at each adjustment date, as specified in the linkage agreements, and adjust payments accordingly using the linkage formula once the adjustment requirements are met.
※ If you have any questions, please contact the Compliance Team.
※ If you have any inquiries regarding this matter, please contact the Compliance Team.
Now Loading.
Please wait a moment.
HD한국조선해양의 모바일 웹은 세로화면에 최적화되어 있습니다.