SPC Launches Compliance Committee with Former Supreme Court Justice Kim Ji-hyung as Chairperson

Deliberating Ethics and Compliance Management Policies
Composed of Experts in Labor, Economics, and Consumer Affairs

On the 19th, SPC Group announced that it has established the SPC Compliance Committee, a permanent and independent body overseeing the company’s ethics and compliance framework. The committee is chaired by former Supreme Court Justice Kim Ji-hyung.

On the 16th, the SPC Compliance Committee held its inaugural ceremony and conducted its first meeting at the SPC1945 building in Yangjae-dong, Seoul.
[Photo by SPC Group]

The SPC Compliance Committee is responsible for reviewing and approving policies and regulations related to ethics and compliance. To ensure independence and objectivity, the committee consists of the chairperson, three external members, and one internal member from the company. Additionally, a separate secretariat has been established within SPC Group to handle practical affairs and enhance operational efficiency.

Chairperson Kim Ji-hyung, a former Supreme Court Justice, previously served as the head of the fact-finding committee for the Guui Station accident in 2016 and chaired the special investigation committee regarding the death of Kim Yong-gyun in 2018. In 2018, he also led negotiations for compensation for victims of the Samsung Electronics leukemia issue as the mediator recommended by the families’ committee, and in 2020, he served as the chair of the Samsung Electronics Compliance Monitoring Committee. He is currently a senior advisor at the law firm Jipyung.

The external members appointed to the committee are attorney Yeo Yeonshim of Law Firm Jihyang, Professor Lee Jeonghee of Chung-Ang University, and Moon Eunsook, Chair of the ISO Consumer Policy Committee. The internal member representing the company is Paris Croissant CEO Kyung Jaehyung.

The SPC Compliance Committee held its first meeting on the 16th, where it reviewed major compliance issues within SPC Group and examined the current status of the compliance system. The committee expressed serious concern over recent fatal accidents at SPC Samlip and passed recommendations for follow-up measures, including an in-depth investigation into the root causes of workplace safety incidents across all business sites.

The committee determined that voluntary actions and declarations of change by the company alone are insufficient to restore external trust and achieve fundamental improvement. Therefore, the committee appointed external experts to form an investigation team, which will identify potential risk factors in the bakery production process and propose preventive measures to SPC Group. In addition, a labor subcommittee was established under the committee to review the group’s industrial safety and labor-management issues and to develop countermeasures.

Kim Ji-hyung, chairperson of the SPC Compliance Committee, stated, "The greater the social demand for compliance placed on a company, the more important it is to establish a robust compliance system. The Compliance Committee will serve in a monitoring role with the goal of fully embedding a culture of compliance within SPC Group."

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