Company-wide fair trade culture established through the 'Hanssem Compliance & Ethics Index'
Expanded 'Win-Win Fund' provides low-interest loans down to second-tier partners
Hanssem Co., Ltd. announced that it has received the highest grade in the Fair Trade Commission's Fair Trade Agreement Compliance Evaluation, a first for the furniture manufacturing industry. Accordingly, at the 'Agreement Compliance Evaluation Award Ceremony' held on December 22 last year in the members' conference room of the Korea Chamber of Commerce and Industry, the company received the 'Best Corporation Award' presented to the company and an 'Individual Award' recognizing the contributions of the responsible employee.
The Fair Trade Agreement Compliance Evaluation is overseen by the Fair Trade Commission, with the Korea Fair Trade Mediation Agency evaluating companies' voluntary compliance with laws and regulations such as the Subcontracting Act and the Fair Trade Act, as well as their implementation of win-win cooperation, and announcing companies rated as top or excellent grade. Companies with the highest grade receive the benefit of a two-year exemption from the Fair Trade Commission's ex officio investigations. In this evaluation, Hanssem was recognized for continuing a variety of activities to establish a fair trade culture and win-win cooperation with its partners, led by its Ethics Management Office, including ▲management of the compliance & ethics index ▲operation of the win-win fund ▲establishment of a subcontracting review committee.
First, the Ethics Management Office created the 'Hanssem Compliance & Ethics Index' metrics and built an internal system to encourage employees to voluntarily practice fair trade. The Compliance & Ethics Index translates into indicators the detailed standards and guidelines that employees must observe throughout the entire process of dealing with partners, from the start to the end of a transaction. Based on the Compliance & Ethics Index, the Ethics Management Office inspects employees' transaction processes with partners to prevent unfair trade.
The company is also expanding its operation of the 'Win-Win Fund,' worth approximately 23 billion won, for its partners. The Win-Win Fund is a program that supports partners with low-interest loans so that they can sustain stable business operations. Starting last year, Hanssem broadened the scope of the Win-Win Fund—previously provided to first-tier partners—to include second-tier partners, thereby expanding its scale.
To swiftly resolve key deliberation matters related to fair trade, the company holds a 'Subcontracting Review Committee' meeting every month. The committee is composed of about ten division heads from areas such as purchasing, manufacturing, and legal affairs. The committee listens to partners' complaints, deliberates on and resolves matters concerning the fairness and legality of transaction processes, and is working to establish a fair order in subcontracting transactions.
▲ Hanssem Co., Ltd. received the highest grade in the Fair Trade Commission's Fair Trade Agreement Compliance Evaluation, a first for the furniture manufacturing industry.