Hyundai Transys Strengthens Fair Trade Compliance Program
[Asia Economy Reporter Hyunseok Yoo] Hyundai Transys announced on the 15th that it will strengthen its Fair Trade Compliance Program to become a leading company in ESG management.
The Fair Trade Compliance Program is an internal compliance system introduced by the Fair Trade Commission in 2001 to encourage companies' voluntary compliance with fair trade laws and promote win-win cooperation.
Since its integrated launch in 2019, Hyundai Transys has implemented the Fair Trade Compliance Program to realize the value of win-win management. In 2021, it obtained certification for the Anti-Corruption Management System (ISO37001) to prevent internal corruption, and it conducts regular training on the Fair Trade Act and Subcontracting Act for employees every year.
This year, Hyundai Transys will strengthen the Fair Trade Compliance Program focusing on five key areas: ▲raising employees' compliance awareness ▲establishing an internal control system ▲inspecting subcontracting transactions ▲preventing collusion ▲fair trade disclosure and agreements. In addition, it plans to form a 'Fair Trade Compliance Council' involving related departments such as Legal Affairs, Purchasing, Finance, and Quality to monitor implementation.
On February 14, Yeosu-dong, CEO of Hyundai Transys, delivered a message to employees stating, “Fair trade compliance and ethical/legal management have become essential elements for sustainable corporate management,” and added, “Let all employees familiarize themselves with fair trade-related laws and pre-check their relevance to their own work to grow into a company with global competitiveness.”
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Meanwhile, Hyundai Transys was recognized for its efforts in mutual growth with partner companies and received the highest grade, the Best Grade, in the ‘2021 Mutual Growth Index’ evaluation announced by the Mutual Growth Committee in September 2022. Notably, it is the only company in the automotive parts industry to receive the Best Grade for eight consecutive years. It is an ‘Excellent Honorary Company’ that has received the Best Grade for three or more consecutive years.
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