- Profession a Will For Voluntary Compliance
- Ethical and Regulation Compliance Standard
- Declaration on Compliance
In this era of global competition, we understand that it is impossible to survive, let alone thrive, without business integrity based on transparency. With that notion in mind, we have been exercising business integrity for the sake of a sustainable growth.
In 2007, JW group introduced a voluntary compliance program for fair trade to observe Fair Trade Act and Pharmaceutical Affairs Act. Since then, we have clarified our will for voluntary compliance, continued to educate our employees, improved regulations, and strengthened action programs.
Since November 2010, the Korean government implemented a "dual punishment system" of prosecuting both the provider the recipient of a rebate. Since July 2014, the government also implemented a "two-strike out system" which can permanently exclude the subject of punishment from receiving health insurance benefits.
Especially, Improper Solicitation and Graft Act, to be implemented on September 28, 2016, prohibit any acts of bribery in all areas of business as well as in sales activities. The Act enables regulation on the acts of providing and receiving money or its equivalence even when they are not related to work or non-reciprocal.
All employees should actively cooperate in observing business integrity with responsibility, because violating the law despite the external environmental change and internal efforts to exercise business integrity can bring a great damage to the company and our customers. Upon knowledge of a violation, the employee should immediately report to the related department to deal with the case according to the legal procedure and prevent it from happening again.
JW Group will make a full-fledged effort in observing legal and moral regulations so our group can continuously create outcomes through business integrity by preemptively removing factors that undermine business integrity and legality. We also ask for the employees' continuous and thorough cooperation in this matter.
Purpose and Scope of Application
- The purpose of JW Group’s Ethical and Regulation Compliance Standard (hereinafter “this Standard”) is to set the ethical and behavioral standards that will lay the foundation for Code of Conduct so that JW Group will become a corporate that will truly contribute to the society and will become reliable by engaging in sincere and fair acts with regards to all corporate activities conducted by the executives and employees of JW Group.
- Moreover, this Standard applies to JW Holdings Corporation, JW Pharmaceutical Corporation, JW Shinyak Corporation, JW Life Science Corporation, JW Medical Corporation, JW Living Healthcare Corporation that belong to JW Group as well as the chief executive officers, directors, auditors, employees (including regular employees, contractual employees, part-time employees, dispatched employees) (hereinafter ‘JW Group’s executives and employees) of the respective company’s subsidiaries and sub-subsidiary company
Ethics for customers
- The executives and employees of JW Group shall always listen to the opinions of customers, shall believe that true requests of customers are always right and shall make all judgments and shall engage in acts with customer satisfaction as the first priority.
- The executives and employees of JW Group shall always tell the truth to the customers, always keep the promise with customers, provide the best products and services as well as promptly and accurately respond to the justified requests of customers.
Ethics for shareholders and investors
- The executives and employees of JW Group shall secure the profits of shareholders and investors by engaging in all activities that increases both the tangible and intangible values.
- The executives and employees of JW Group shall not engage in any activities that reduce the profits of shareholders and investors by damaging the corporate value such as illegal use the company’s asset and acquisition of profits through unjust methods.
Compliance with Laws and Regulations
- The executives and employees of JW Group shall not only comply with this Standard but also all relevant Laws of the Republic of South Korea (including but not limited to Fair Trade Act, Pharmacy Act, Pharmaceutical Safety Regulation, Commercial Code, Tax Code, Industrial Safety and Health Act, Wastes Control Act, Clean Air Conservation Act, laws related to water quality and aquatic conservation, Patent Act, Copyright Act and others), regulations, company regulations and ethical standards.
Prohibition of rebate, bribe, other corrupt acts
- The executives and employees of JW Group shall not be neither directly nor indirectly involved in bribe or the proposal of unjust profit that is equivalent to such, provision of fund, promises like gifts or grants or approvals related to such that influences the decision of person in charge in government organizations, non-government groups or institutes and companies in order to acquire inappropriate profits related to product business..
- The executives and employees of JW Group shall not be either directly or indirectly involved in bribe or the proposal of unjust profit that is equivalent to such, provision of fund, promises like gifts or grants or approvals related to such for the purpose of exercising inappropriate influence on any actions of the individual, customer, company or company representative.
- The executives and employees of JW Group shall not be involved in any corrupt acts, illegal acts or unethical acts.
Gifts and Entertainment
- The executives and employees of JW Group do not require gifts and entertainment as below with regards to managing the business and shall refrain from such.
- Providing gifts, entertainment or special treatment with the intention to influence the decision making related to product business
- Providing any gifts, entertainment or special treatment in the process of engaging in the present purchase or contract decision process.
- All monetary gifts including “Gift Certificates”
- The executives and employees of JW Group cannot request for any gift, entertainment or special treatment to all transaction companies such as suppliers.
Fair Competition and Supply
- The executives and employees of JW Group shall comply with the relevant laws within the free market economy, respect commercial practice, and accomplish fair superiority in fair competition by complying with fair methods and procedures.
- The executives and employees of JW Group shall engage in fair competition, fair trade and fair acts by complying with the Fair Trade Act, relevant sub acts, regulations and others. The executives and employees of JW Group shall trade in a fair and transparent manner with medical institutes, groups, suppliers and customers.
Protection of personal information
- The executives and employees of JW Group shall comply with the Personal Information Protection Act and all relevant regulations in order to protect the personal information of individuals concerned when handling personal information. The executives and employees of JW Group shall report to Legal Affairs Department immediately in cases of illegal usage, disclosure or loss of personal information.
Compliance with Employment-related regulations
- The executives and employees of JW Group shall not engage in acts of threat, verbal abuse or violence, shall treat each other with dignity and respect and shall refrain from act that torments or disturbs other employees or causes hindrance in work execution.
- The executives and employees of JW Group shall comply with all employment related Laws such as Prohibition Act on Discrimination at work and others as well as regulations related to employment regulations of JW Group and others. The executives and employees of JW Group shall not discriminate anyone for any reason and in any way whatsoever related to gender, religion, social status, political status, economic ability, physical, academic, family ties and regionalism.
- The executives and employees of JW Group shall not possess, use or sell illegal drugs and shall not perform work under influence of alcohols or illegal drugs.
- The executives and employees of JW Group shall not produce or manufacture products or services through acts that violate Labor Standard Act such as compulsory labor, Labor Act and laws related to the human rights.
Protection of Intellectual Property and Confidential Business Information
- The executives and employees of JW Group shall not disclose confidential business information or internal information of the company and related companies (including the company’s subsidiaries, joint researchers, joint ventures, transaction companies, other relevant companies regardless of domestic or abroad) acquired during the execution of work or regardless of the relevance to work to a third party in and out of the company in any way whatsoever excluding the case when it is used for the assigned work and shall not use it for the benefit of oneself or a third party.
- The executives and employees of JW Group shall sign a non-disclosure agreement in advance in case confidential business information or internal information of JW Group has to been exchanged as when necessary for business and such exchanges shall be restricted to the extent that is needed in the work execution as per the agreement.
- The executives and employees of JW Group shall not duplicate any items with regards to confidential business information or internal information acquired during the work execution or regardless of the relevance to work through copy, voice record, video record or any other methods other than for the purpose of using it for the assigned work.
- The executives and employees of JW Group shall not use confidential business information without the company’s prior consent for the protection of confidential business information and internal information during employment and even after retirement and shall not disclose or transfer them to a third party.
- The executives and employees of JW Group shall report to the legal affairs team immediately in case confidential business information or internal information have been revealed illegally.
Accuracy of business records
- The executives and employees of JW Group shall create and keep accurate and transparent records on actual transactions and payments and shall not conceal, omit or falsely make the records.
- The executives and employees of JW Group shall comply with and record the accounting principles generally certified with regards to all financial books and records.
Usage of Internet, E-mail, mobile devices, electronic mediums and others
- The executives and employees of JW Group shall protect confidential information and electronic devices in case of using Internet, E-mail, mobile devices, electronic mediums and others (hereinafter ‘electronic environment’).
- The executives and employees of JW Group shall keep near the mobile devices such as laptops that belong to the company and during business trips shall store them with caution by applying lock settings.
- The executives and employees of JW Group shall not view, download or transmit materials related to discrimination, torment, threat, sex, pornography, racial discrimination, sexual discrimination, injuries or other impulsive characteristics while being aware of its content. The electronic environment shall only be used for work purposes.
- The executives and employees of JW Group shall not download or distribute materials on the Internet and others without the consent of the copyright holder with regards to materials with intellectual property rights.
Compliance with trade regulations
- The executives and employees of JW Group shall comply with the control, restrictions, other trade regulations and customs of the relevant country where the transaction is taking place with regards to import and export and others.
Environment, health and safety
- The executives and employees of JW Group shall comply with all laws and regulations related to environment such as Industrial Safety and Health Act, Wastes Control Act, Clean Air Conservation Act, laws related to water quality and aquatic conservation, health and safety.
- The executives and employees of JW Group, with regards to all corporate activities, shall be engaged in methods that guarantees the safety of oneself and others or in methods that complies with the conditions of the relevant environment, health and safety.
Contact for violations
- If you wish to report on additional information or potential violations items and others with regards to this Standard, please contact us at the head office’s representative number immediately.
We shall realize customer priority by thinking from the perspectives of the customers at all times.
We shall autonomically comply with all related laws including laws related to Pharmacy Law, Exclusive Regulation and Fair Trade with regards to executing the businesses and works and shall not engage in acts that violate them.
We shall compete in fair and transparent methods with competitors and shall actively cooperate in common obligations for the development of industry and for the health of mankind.
All executives and employees shall strive towards sound and happy career by mutually accepting and respecting the dignity and value of human.
The executives and employees shall execute the work at their best with passion based on utmost good faith and shall lead innovation at work.
We shall protect the investment income of shareholders by realizing sound profits through effective management.
We shall actively train and support the executives and employees in competence development and create a healthy working environment where passionate and competent people would feel like working.
We, as corporate citizen, shall contribute to regional society and strive for harmonious joint development with the regional society.
We shall endeavor to prevent environmental pollution and to protect nature for clean environment preservation.
We shall actively cooperate with the national health and medical policies and shall always put in the best efforts in promoting national health and welfare