GS Construction Receives 'AA Grade' in Fair Trade Compliance Program Evaluation

GS Construction has been selected as an AA-grade excellent company for its Compliance Program (CP) in fair trade.

At the '2023 CP Forum' held at Plaza Hotel in Jung-gu, Seoul, Shin Kyung-chul, Head of Sustainable Management Group at GS Construction (right), is taking a commemorative photo after receiving the CP grade evaluation AA grade excellent company certificate from Han Ki-jung, Chairman of the Fair Trade Commission (left).
[Photo by GS Construction]

GS Construction announced on the 15th that it was selected as an AA-grade excellent company in the 2023 CP rating evaluation at the ‘2023 CP Forum’ hosted by the Korea Fair Trade Mediation Agency on the 14th. The forum was held at the Plaza Hotel in Jung-gu, Seoul, with about 100 attendees including Han Ki-jung, Chairman of the Fair Trade Commission, representatives from large and small-to-medium enterprises, and related institutions.

The Compliance Program (CP) is an internal compliance system and code of conduct established and operated by companies themselves to comply with fair trade-related laws and regulations. It is an initiative introduced by the Fair Trade Commission in 2001 to enhance compliance willingness and ethical awareness, prevent legal violations in advance, and promote a culture of voluntary compliance with fair trade. The CP rating evaluation assesses companies’ CP operations, awarding certificates and providing incentives to excellent companies.

GS Construction declared the introduction of CP in 2021 and established a dedicated CP department to ensure compliance with fair trade-related laws and regulations. It applied for the CP rating evaluation for the first time in 2023 and achieved the AA grade.

GS Construction cited the top management’s and company’s commitment and support for CP operation as the primary reason for obtaining the AA grade. It was evaluated that the company has established and continuously improved a fair trade compliance system through ongoing improvements in CP operation systems, utilization of compliance manuals and fair trade law compliance guides, self-inspection activities, employee training including in-depth education in risk areas, pre-work consultation systems, and improvements through CP effectiveness evaluations.

A GS Construction official said, “The efforts made over the past two years in operating the Compliance Program (CP) have led to the meaningful achievement of obtaining the AA grade from the Fair Trade Commission,” and added, “As a leading company in ESG management, we will continue to actively operate the Compliance Program (CP) and take the lead in complying with fair trade-related laws and regulations.”

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