Hotel Shilla Obtains 'AA Grade' in Fair Trade Compliance Program

Continued Efforts for ESG Management

Hotel Shilla exterior. (Photo by Hotel Shilla)

[Asia Economy Reporter Lim Chunhan] Hotel Shilla announced on the 14th that it received an AA grade, the highest in the industry, in the 2022 Fair Trade Compliance Program (CP) rating evaluation.

CP is an internal compliance system operated by companies themselves, including education and supervision, to comply with fair trade-related laws and regulations. It is regarded as one of the core elements of ESG (Environmental, Social, and Governance) management. The Fair Trade Commission introduced CP in 2001 to encourage companies' voluntary compliance with fair trade laws through an internal compliance system.

Hotel Shilla continues its efforts to become a global compliance management company through systematic program operation and evaluation, such as operating an in-house CP organization, regular and ad-hoc CP inspections, compliance education for executives and employees, and CP campaigns. In particular, despite applying for the CP rating evaluation for the first time this year, it has been recognized for its fair trade compliance capabilities by obtaining an AA grade.

A Hotel Shilla official said, "Receiving the AA grade, the first in the industry, in the CP rating evaluation we applied for the first time this year is a valuable result of our continuous efforts to comply with the Fair Trade Act," adding, "We will continue to do our best in ESG management befitting a global compliance management company."

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