Development of Ethical Compliance Management Guidelines to Prevent the 'LH Satae' Incident

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Moon Chaeseok] The government announced on the 2nd that it has developed ethical compliance management guidelines to be applied to public enterprises in order to prevent a 'second Korea Land and Housing Corporation (LH) incident.'

The Anti-Corruption and Civil Rights Commission (ACRC) stated that it plans to create the guidelines and implement them first in LH and other organizations. To this end, the ACRC appointed 15 experts from academia, professional fields, civil society, and the economy on the 30th of last month to participate in the development of the ethical compliance management guidelines, indicators, and the establishment of a code of conduct.

Since 2009, the ACRC has operated corporate ethical management training programs to enhance awareness and work capabilities regarding ethical management among corporate executives and employees. It has strengthened communication and cooperation with related organizations such as economic groups in line with the international trend of reinforcing anti-corruption measures.

Jeon Hyun-hee, Chairperson of the ACRC, said, "The importance of anti-corruption ethical compliance management for public enterprises has been greatly highlighted in light of the recent LH incident," adding, "We ask for strong support in preparing compliance programs for ethical compliance management to strengthen corporate competitiveness and establish a fair and transparent ethical management system."

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