CJ CheilJedang, First Domestic Company to Receive International Standard 'Compliance Management System' Certification

On the 13th, officials are taking a commemorative photo at the CJ CheilJedang ISO 37301 Certification Award Ceremony held at the CJ CheilJedang Center in Jung-gu, Seoul. (From left: Hong Mi-kyung, Secretary General of the Korea Fair Competition Federation; Shin Hyun-yoon, President of the Korea Fair Competition Federation; Kim Ju-seok, Legal Director of CJ CheilJedang; Mike Welch, Counselor of the British Embassy; Lee Il-hyung, CEO of Lloyd Certification Institute)

[Asia Economy Reporter Lee Seon-ae] CJ CheilJedang announced on the 14th that it has become the first domestic company to receive the international standard certification for the ‘Compliance Management System (ISO/DIS 37301).’

Compliance refers to activities that prevent potential risks in advance by adhering to laws and corporate ethics, minimizing possible losses, and protecting the company and its employees. The ‘Compliance Management System’ is an international standard established by the International Organization for Standardization (ISO) that serves as a criterion to verify whether companies practice compliance management in the global market, where various legal risks are latent.

CJ CheilJedang was highly evaluated for continuously striving to establish and operate a compliance system, including forming a dedicated compliance organization in 2018 and holding an annual Compliance Management Committee. In 2019, it took the lead in mutual growth and coexistence with dealerships by signing the ‘Fair Trade Agreement with Dealerships,’ the first in the food and beverage industry. Last year, it also actively worked on building an ethical management system and culture by adding an ‘Ethical Management’ section on the official CJ CheilJedang website.

The company is also actively continuing compliance activities overseas. In response to the European ‘General Data Protection Regulation (GDPR)’ implemented in 2018, CJ CheilJedang promptly checked the compliance of its European subsidiaries with relevant laws and identified areas for improvement. As China strengthened its Cybersecurity Law, the company proactively inspected the security system of its Yosung subsidiary, made corrections to comply with current laws, and obtained the ‘Security Grade Evaluation’ certification.

Having been recognized for its international standard compliance management system, CJ CheilJedang plans to further strengthen an effective compliance culture. Kim Ju-seok, Head of Legal Affairs at CJ CheilJedang, emphasized, “Our long-standing efforts in compliance and ethical management have been internationally recognized,” adding, “We will strive to build a more transparent and ethical management system to establish ourselves as a leading global food & bio company at the forefront of compliance management.”

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