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Home About Hankook Tire Company Corporate Governance Code of Ethics

Corporate Governance

To sustain transparent and accountable corporate principles, Hankook Tire has embraced a corporate governance system which recognizes and deals with a wide range of ethical issues to better manage our company and make decisions that benefit all stakeholders.

To sustain transparent and accountable corporate principles, Hankook Tire has embraced a corporate governance system which recognizes and deals with a wide range of ethical issues to better manage our company and make decisions that benefit all stakeholders.

Chapter 1. General Principles

Article 1. Statement of Purpose

This employee Code of Ethics (the “Code”) is intended to set forth, and govern, the ethical conduct of all individuals employed by Hankook Tire (the “Company”). Its purpose is to ensure that the company and those acting on its behalf conduct business according to our values and all company policies.

Article 2. Scope

This Code of Ethics applies to all members of Hankook Tire, as well as to directors, shareholders including vendors those who are in relation with the Company.

Article 3. Terms and Definitions

  1. The Company: Hankook Tire Worldwide Co., Ltd., Hankook Tire Co., Ltd., and subsidiaries and affiliated companies.
  2. Members: All individuals employed by Hankook Tire including executives and directors.
  3. Business Partners: A member, including; customers, vendors, and shareholders, who can affect business operation or be affected by the actions of business as a whole.

Article 4. Authority and Responsibility

  1. The Business Ethics Subcommittee and Audit Team have authority and responsibility on Code of Ethics and its practices in the company.
  2. Disputes over the interpretation of the Code of Ethics shall be settled by a ruling from the Business Ethics Subcommittee and Audit Team

Chapter 2. Fundamental Ethics for Employees

Article 5. Employee honor and Dignity

  1. Employees shall comply with applicable laws and regulations at all levels of government and in anonymous jurisdiction in which the Company does operate.
  2. Discrimination and harassment on the basis of race, color, religion, sex, disability, age or national origin or any other protected class are strictly prohibited for all employees.

Article 6. Confidentiality

  1. Employees shall record and report all information with accuracy; it may not be fabricated intentionally or negligently.
  2. Employees shall not acquire information by unjust means, or use information acquired for improper purpose nor disclose such information to any individual and organization without any authorization.
  3. Illegal download and/or use of pirated software are prohibited for all employees.

Article 7. Protection and Proper Use of Company Assets

  1. All employees shall protect the Company’s assets and ensure their efficient use, and use it only for company.
  2. Employees shall protect the Company’s proprietary information including intellectual property during employment and or after termination or retirement. Unauthorized use of distribution of all information means the violation of Company policy.
  3. Employees shall respect and understand intellectual property rights, as well as, their individual rights.

Chapter 3. Hankook Tire’s Business Activities.

Article 8. Mutual Development with Business Partners.

  1. Employees shall strive to create relationships that are mutually beneficial to both parties by conducting good faith relations.
  2. Employees shall provide equal opportunities to all qualified businesses and select partners by fair evaluation based on necessary criteria.
  3. Employees shall not use their incumbency advantage to make unjust demands or take advantage of business partners in any way.
  4. Employees shall ensure business partners will participate in ethical business activities of Hankook Tire under the Company policies.

Article 9. Respect for Customers

  1. Before taking any action or making any decisions regarding management issues, customer satisfaction is our top consideration.
  2. Customer information is strictly confidential and must be handled appropriately at all times and ensure its confidentiality.

Article 10. Respect for Shareholders

  1. Hankook Tire makes every effort to earn shareholders trust by providing accurate information on business results in a timely manner.
  2. Hankook Tire maintains and publicly announces all financials in line with the Korean Generally Accepted Accounting Principles (GAAP).

Article 11. Respect for to Employees

  1. Hankook Tire respects each individual’s human rights including privacy, dignity and personality.
  2. Hankook Tire ensures fair and unbiased human resources management based on the competencies and achievements of its employees, and treats them consistently and in proportion to their contribution towards the company.
  3. Hankook Tire provides every employee with a safe work environment.

Chapter 4. Employee Business Activities

Article 12. Conflict of Interest

  1. In case when person’s private interest interferes in any way with the Company, the Company’s interest shall be put ahead before the individual’s.
  2. Employees shall protect the company’s physical assets, intellectual property and trade secrets, and not use corporate property for personal gain under any circumstances.
  3. Employees shall consult with their reporting line in advance when conflict of interest is in question.

Article 13. Creation of Healthy Work Environment

  1. Employees shall create a working atmosphere where they can demonstrate proactive leadership by making continuous self-improvement.
  2. Employees shall maintain a corporate culture based on good communication and mutual respect among all employees.
  3. Employees shall use company property sparingly, and as if it was their own. Employees should be respectful in use of company property, not to be wasteful.

Article 14. Political Activity

  1. Employee may participate in an individual capacity in political activities on their own personal time, but only to the extent that such participation does not conflict or interfere with the performance of his/her duties with the Company.
  2. Employees shall not use company assets to cover expenses for political activities or make donations to a political party, a politician or an electoral candidate.
  3. Employees shall not use the company’s manpower, facilities, equipment, or other asset to make donations (money or goods) or to use them for the purpose of conducting political activities.

Chapter 5. Emphasis on Environment, Safety and Health

Article 15. Environmental Protection

  1. Employees shall comply with international standards, relevant laws and the company’s regulation related to environmental protection.
  2. Employees shall be aware of the preservation of our environment and act accordingly by using resources cautiously and recycling whenever possible.

Article 16. Emphasis on Safety and Health

Employees shall aim to be free of accidents at work by strictly abiding by all safety regulations and guidelines. Employees are encouraged to be positive both in their thoughts and actions, and to help maintain a cheerful and liberal work environment.

Chapter 6. Social Responsibility as a Global Corporate Citizen

Article 17. Contribution to the Nation and Society

  1. The Company shall respect and comply with all domestic and foreign laws, accounting standards and trade customs.
  2. The company shall respect the principles of market competition, trade ethics and customs and shall not take advantage by using illegal methods.
  3. The company shall contribute to the development of national and local communities as a corporate citizen by creating jobs and faithfully paying taxes.

Article 18. Global Company

  1. All foreign business activities shall comply with the laws of each applicable country, and the company shall respect each country’s culture and traditions during its conduct of business activities.
  2. The company shall comply with international agreements and the fair trade laws of various countries (U.S. Foreign Corrupt Practices Act, U.K. Bribery Act, OECD Anti-Bribery Convention, etc.).

Chapter 7. Compliance with the Code of Ethics

Article 19. General Principles

  1. Employees shall comply with the ethical standards by setting them as regulations in taking action and/or making judgments.
  2. The company shall take disciplinary action against employees who violate ethical regulations, but in cases of voluntarily reporting, consideration will be given in the final decision on discipline.

Article 20. Obligation to Report

In cases where employees are aware that their actions or the actions of others have violated ethical standards, employees shall report that fact to Audit Team.

Article 21. Protection of Whistleblower

Whistleblower shall not receive any retaliatory action of any kind; identity of the person shall be kept anonymous and protected.

Article 22. Measures Taken for Violations of the Code of Ethics

  1. Perception or suspicion of a Code of Ethics breach by an employee shall lead to an investigation by the Company to verify whether there is credibility to the allegation.
  2. When a Code of Ethics breach is confirmed, the case shall be referred to the HR Committee for further deliberation and ruling.
  3. All managers, including executives, have a responsibility to train and ensure the employees in their departments to comply with the Code of Ethics, and take necessary disciplinary action against employees who violate the code.

Addendum

  1. Revisions made to Hankook Tire’s Code of Ethics shall be amended and come into effect from August 1, 2001.
  2. Revisions made to Hankook Tire’s Code of Ethics shall amended and come into effect from February 1, 2005
  3. Revisions made to Hankook Tire’s Code of Ethics shall amended and come into effect from July 15, 2007
  4. Revisions made to Hankook Tire’s Code of Ethics shall amended and come into effect from October 8, 2010.
  5. Revisions made to Hankook Tire’s Code of Ethics shall amended and come into effect from April 01, 2013.
  6. Revisions made to Hankook Tire’s Code of Ethics shall amended and come into effect from June 1, 2014.
  7. Details on prohibiting the receipt of improper gains, including money and valuables, shall be separately stated in the Guidelines on the Receipt of Improper Money and Valuables.
  8. Details on the use of social media shall be separately stated in Social Media Guidelines for Employees.

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