GS Caltex Receives Compliance Management System Certification from UK Institution... Industry First Case

Huh Se-hong, President and CEO of GS Caltex

[Asia Economy Reporter Kim Hyewon] GS Caltex announced on the 4th that it has become the first company in the domestic energy industry to obtain the ISO37301 certification for compliance management systems from a global certification body.

The ISO37301 certification, which GS Caltex received from the global certification body BSI (British Standards Institution), is an international standard for compliance management systems established by the International Organization for Standardization (ISO) in April. It is a guideline that stipulates the requirements for establishing and implementing an effective compliance management system within an organization.

Last year, GS Caltex strengthened its compliance activities by establishing a dedicated team that plans and executes compliance programs in various fields such as fair trade and anti-corruption. Furthermore, the company appointed an Antitrust Compliance Officer (ACO) to promote fair trade-related education and improve employee awareness.

Previously, in 2019, GS Caltex concretized its vision statement as "We will become the most respected energy and chemical company based on the industry's best competitiveness." This means linking all processes from daily role performance to company-wide management activities to execution, ensuring respect from the process to the results.

In March, GS Caltex completely revised the "GS Caltex Code of Ethics," established in 1997, into the "Corporate Code of Conduct" and announced it both internally and externally. The newly revised code integrates various previously scattered regulations and policies, reflects global trends such as ESG (Environment, Social, Governance), and was produced in a handbook format to enhance usability for employees.

Additionally, GS Caltex has appointed compliance officers in the company and its subsidiaries to establish ethical management as a corporate culture and conducts Compliance Program (CCP) training to strengthen employees' ethical awareness.

A GS Caltex official stated, "This ISO37301 certification has become an opportunity to increase trust among stakeholders and customers," and added, "We will continue to strengthen ethical management and compliance support to realize ESG values."

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