Hanwha Embraces Integrity
[April 18, 2019] Maintaining integrity is part of our three core values that guides us in everything we do, from how we interact with our customers and partners to how we work internally going hand-in-hand with how we also do business, with trust and loyalty. Hanwha is determined to set the global standard for corporate compliance and that is why we’re undergoing a series of major structural reforms to bring ethical business management to the forefront and establish new guidelines to improve honesty and transparency across all our divisions.
Chief among these reforms has been the formation of an independent compliance committee that will hold us all accountable to our actions and ensure we follow all regulations, policies, laws, standards, and ethical practices. Led by Hong Hoon Lee, a former justice of the Supreme Court of Korea, the committee is responsible for establishing our group-wide compliance policy and management. The majority of the committee’s seats are held by outside non-management advisors to ensure independent objectivity without conflict of interest when examining potential corporate issues.
Our corporate compliance reforms have already led to some dramatic restructuring within Hanwha. As a result, divisions have exercised more corporate independence and exhibited their ability to make more responsible management decisions.
The leadership is making it clear to everyone at Hanwha that our reforms and focus on corporate compliance are important and that they intend to lead by example. Nam-gyu Cha, CEO of Hanwha Life, publicly signed a banner detailing Hanwha Life’s own corporate compliance pledge. He made sure to make his signature as large as possible so that everyone who sees it will immediately know that Hanwha is serious about its commitment to conducting business with the utmost integrity.
Hanwha’s reform and restructuring activities are still ongoing. New training programs are being implemented so that members of the Hanwha global family may gain a deeper understanding of integrity and its importance to maintain it.
While other companies are dealing with an increasing number of questionable corporate conduct around the world and major corporations are struggling to keep their reputations intact, Hanwha is leading the way by showing how it is possible for a large, international organization to act with both honesty and transparency to maintain the trust of people from all over the world.