KT&G Announces Group Ethics Charter... "Strengthening Ethical Management for Sustainable Growth"

On the 8th, at the 'KT&G Group Ethics Charter Proclamation Ceremony' held at the Courtyard Marriott Namdaemun Hotel in Jung-gu, Seoul, Baek Bok-in, President of KT&G (fourth from the left), and representatives of seven domestic subsidiaries are taking a commemorative photo. Photo by KT&G

[Asia Economy Reporter Song Seung-yoon] KT&G announced on the 9th that it has declared the ‘KT&G Group Code of Ethics,’ which contains common behavioral standards for group companies, to strengthen ethical management.

The declaration ceremony held the previous day at the Courtyard Marriott Namdaemun Hotel in Jung-gu, Seoul, was attended by about 20 people, including KT&G President Baek Bok-in, representatives of seven domestic subsidiaries such as KGC Ginseng Corporation, Youngjin Pharm, Cosmo Cos, KGC Life and Jin, and compliance officers.

KT&G revised the Code of Ethics to express its commitment to ethical management both internally and externally and to present common value judgment standards through group-level guidelines. This is the third revision since its establishment in 2003.

The KT&G Group Code of Ethics is based on the company’s management philosophy of ‘a righteous company, an awakened company, and a company that grows together,’ and consists of 8 themes and 31 items. Major contents include ‘business ethics,’ ‘asset and information protection,’ ‘domestic and international transactions,’ and ‘commitments to society,’ with newly added sub-items such as responsible research and development and social media use.

This Code of Ethics will be provided in eight languages to 21 companies, including overseas subsidiaries and domestic and international affiliates, to enhance understanding among all group members with different cultures and languages.

A KT&G official said, "Strengthening ethical management is an essential condition for sustainable growth as a global company," adding, "We will strengthen ethical management at the group level to further advance the internal control system and strive to establish a global management system based on this."

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