Hankyung Association Launches Ethics Committee... Chairman is Former Constitutional Court Justice Mok Young-jun

Implementation of Internal Control System to Prevent Jeonggyeong Yuchak (Collusion Between Politics and Business)

The Korea Economic Association announced on the 17th that it has launched an Ethics Committee composed of five members.

This is a follow-up measure following the amendment of the articles of association to establish an internal control system, the Ethics Committee, to prevent collusion between politics and business, as an innovation plan adopted at the extraordinary general meeting held last August. At that time, the 'Korea Economic Association Ethics Charter' was adopted, and the 'Ethics Committee Regulations' were finalized through a board resolution.

The Korea Economic Association explained that the establishment of the Ethics Committee is "significant in that it equips the organization with a core system to be reborn as a group trusted by the public."

From the left, Mok Young-jun, Chairman of the Korea Economic Cooperation Association Ethics Committee, Kim Hak-ja, Ethics Committee Member, Kim Hyo-sun, Ethics Committee Member, Park Kwang-woo, Ethics Committee Member / Photo by Korea International Trade Association

The inaugural chairman appointed was Mok Young-jun, former Justice of the Constitutional Court. Chairman Mok has served as Chief Judge of the Seoul Central District Court, Deputy Director of the Court Administration Office, Justice of the Constitutional Court, and Arbitrator of the International Permanent Arbitration Court. He currently holds positions as a Distinguished Professor at Korea University, Chairman of the ESG Advisory Committee at CJ Group, and Chairman of the Ethics Management Committee at Hanjin Group.

The Korea Economic Association stated, "Having served as a judge and constitutional justice for about 30 years since 1983, he is impartial and respected not only in the legal community but also across various sectors," adding, "We expect the committee to operate ethically from an objective perspective to guide the Korea Economic Association in the right direction."

The Ethics Committee consists of a total of five members: four external members and one internal member. Excluding the chairman, the external members are Kim Hak-ja, President of the Korean Women Lawyers Association; Kim Hyo-sun, Professor of Business Administration at Chung-Ang University (currently President of the Korean Society for Business Ethics); and Park Kwang-woo, Professor at KAIST College of Business. Kim Chang-beom, Executive Vice President of the Korea Economic Association, participates as the internal member.

The Korea Economic Association stated, "Two women are included among the members," and added, "With experts from the legal and academic fields participating, we expect the committee to review and advise on ethical management issues of the association and its members from diverse and professional perspectives."

The Korea Economic Association Ethics Committee will thoroughly review matters related to the association’s ethical management and external support issues that impose financial burdens on member companies. The Korea Economic Association has established a policy that decisions made through the committee’s deliberations will be duly considered in decision-making and business execution. The committee will hold meetings quarterly as a rule and convene as needed when issues arise for review.

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