Samyang Foods Establishes Compliance Organization for Ethical Management

[Asia Economy Reporter Seungjin Lee] Samyang Foods announced on the 15th that it will introduce a Compliance Officer system and establish a compliance organization to practice compliance management.

The Compliance Officer system monitors whether listed companies with a certain asset size properly comply with relevant laws and regulations or unfairly support affiliates, and regularly reports to the board of directors to prevent various disputes arising from legal risks. To this end, Samyang Foods plans to hold a board meeting this month to appoint a Compliance Officer and establish compliance control standards.

The newly established compliance organization will serve as a control tower that comprehensively manages all issues related to legal regulations centered on the Compliance Officer. In particular, through reviews of fair trade and contract execution, it aims to eliminate legal risk factors in advance, secure transparency in business relationships, and establish a pre-compliance control system for workplace environment, accident prevention, and facility management to check compliance with legal regulatory requirements.

In addition, a system will be set up to report internal illegal or unfair acts, and regular education and campaigns related to compliance will be conducted to enhance employees' compliance spirit.

A Samyang Foods official said, “We will continuously strengthen compliance functions to establish a culture of compliance management,” and added, “We will continue efforts to build a transparent and fair management foundation.”

Meanwhile, Samyang Foods is promoting various activities to strengthen ESG (Environmental, Social, and Governance) competitiveness. Ahead of the launch of the Audit Committee and Compensation Committee at the regular shareholders' meeting in March, eco-friendly management will be actively pursued by improving energy use, waste discharge, and greenhouse gas emissions across all areas including production, logistics, and services.

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