Hanssem "Bidding Collusion, Deeply Responsible and Apologetic... Promise to Prevent Recurrence"

Furniture company Hanssem stated on the 7th regarding the Fair Trade Commission's measures on the furniture companies' collusion case, "We deeply regret our responsibility and sincerely apologize to everyone who has trusted and supported Hanssem."

Hanssem announced through an apology immediately after the Fair Trade Commission's announcement, saying, "We will abolish the outdated practice of collusion and prioritize ethical management to become a transparent and fair company."

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Earlier, the Fair Trade Commission judged that furniture companies including Hanssem violated the Fair Trade Act by agreeing on bid prices during the bidding process to select special sales furniture suppliers for new apartment construction sites nationwide from 2012 to 2022. The commission issued corrective orders and imposed fines. A total fine of 93.1 billion KRW (tentative) was imposed on 31 furniture manufacturing and sales companies including Hanssem, Hyundai Livart, and Enex.

Hanssem stated, "As a leading home interior company in Korea, we will take responsibility and apply stricter standards that meet global expectations to lead efforts in improving Korea's home interior and residential environment."

On the same day, Hanssem also announced a code of conduct for preventing recurrence and practicing ethical management. The code of conduct includes ▲ declaration of ethical management practice ▲ reinforcement and expansion of compliance organization for legal compliance and monitoring activities ▲ overhaul of company-wide work processes ▲ mandatory compliance education for employees.

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