Home&Shopping "Leap to a Transparent Company through Compliance and Ethical Management"

Improved Operation of Sinmungo System from the 13th... Up to 200 Million KRW Paid After Internal Review

[Asia Economy Reporter Kim Cheol-hyun] Home&Shopping announced on the 13th that since the appointment of CEO Kim Ok-chan in June, it has been accelerating the establishment of a management environment to practice compliance, ethical management, and anti-corruption management. CEO Kim’s plan is to realize compliance broadcasting that delivers fair and accurate product information to protect the rights and interests of viewers and customers, strengthen corruption risk prevention activities through the operation of the Ethics Committee and the whistleblower reward system, and establish a more ethical and transparent corporate culture.

First, Home&Shopping operates a Compliance Deliberation Committee to deliver fair and accurate product information through compliance broadcasting. The committee, launched last year, holds meetings every two months and strives to raise the standards of its internal deliberation regulations to meet viewers’ expectations, institutionalize disciplinary actions against those who violate the regulations, thereby enhancing employees’ compliance mindset and reducing cases of violations.

It is also expanding communication channels with viewers through the Viewer Committee. The Viewer Committee, currently in its 3rd term, holds regular monthly meetings to provide opinions or request corrections regarding broadcast programming, internal deliberation regulations, and broadcast program content, as well as to handle tasks related to protecting viewers’ rights and remedies for infringements. Additionally, from this month, a 'Live Deliberation' system has been introduced, expanding the scope from pre-broadcast review to live broadcasts.

The Ethics Committee, operating since 2018, meets quarterly to discuss and propose various agendas and issues, promoting qualitative growth in Home&Shopping’s ethical management activities. The newly launched 2nd term committee in September will include strengthened external expert members to promote exemplary win-win growth and unethical behavior prevention activities.

Home&Shopping is also focusing on strengthening compliance management through communication channel operations. In particular, from the 13th, it has improved and reinforced the Shinmungo (complaint box) system. After an internal review based on company standards, whistleblower rewards of up to 200 million KRW will be paid. The Shinmungo system rewards whistleblowers if the reported content about the company or employees is confirmed to be true. Types of reports include internal employee corruption such as receiving favors from partners or stakeholders, unfair transfer of promotional expenses, and unfair demands for management information that hinder fair trade.

Kim Ok-chan, CEO of Home&Shopping, said, "In the second half of the year, we plan to introduce a Fair Trade Autonomous Compliance Program to voluntarily comply with fair trade-related laws and establish an internal compliance system." He added, "We will continue to become a trusted company by customers and partners through the efforts of all employees."

This content was produced with the assistance of AI translation services.