1. KORENS bases its activities on precision management which strictly adheres to the fundamentals, and works to inspire trust and respect.
2. We will continuously innovate in our management and strengthen our growth potential to increase our corporate value while establishing an ethical corporate culture in order to become a company that our clients want to do business with and a place where employees want to work, and to allow all of our stakeholders to grow and develop together with us.
Article 2 (Customers and Accounts)
1. We make customer value the most important thing for our management and provide the best products and service.
2. We provide fair opportunities to our suppliers and guarantee reasonable transaction terms to develop cooperative relationships.
3. We pursue good faith competition with our competitors and ensure fair transactions.
Article 3 (Employees)
1. We will work to respect individual creativity and provide fair opportunities for competition in order to become an arena for personal development
2. We do not discriminate on the basis of education, region, sex, age, religion, or other factors.
3. We will create a corporate culture allowing for development on the basis of mutual trust and understanding.
Article 4 (The Nation and Society)
1. As a corporate citizen, we respect national policies and various laws and fulfill all of our social obligations.
2. We respect the traditions and culture of regional society and do our best to work toward shared prosperity and development with the region.s
3. We comply with applicable international law relating to human rights, the environment, culture, and the economy, etc., as well as with the laws and accounting standards of local governments.
Section 2: Guidelines for Action
Article 5 (Goal)
In order to promote the efficient management of ethical standards, these guidelines define standards for business activities and the acceptable scope of and standards for personal benefits including money and valuables, hosting, and conveniences received from stakeholders.
Article 6 (Definitions of Terminology)
The terminology used in these guidelines is defined as follows.
1. Money and valuables: Items with economic value including money (cash, gift certificates, rights to use, etc.) and goods.
2. Hosting: Meals, drinking, golf, performances, entertainment, etc.
3. Conveniences: Benefits including transportation, accommodations, sightseeing, support for events, etc.
4. Stakeholders: Individuals (such as employees), clients, and organizations whose rights or profits may be directly influenced by one’s performance of work.
Article 7 (Money and Goods)
1. It is prohibited to request or receive money or goods from a stakeholder under any pretext. However, an exception is made for souvenirs branded with the client’s logo, or items which are regularly distributed to attendees at an event held by the stakeholder.
2. If you unavoidably receive money or goods while unaware you must immediately return them, and if it is impossible to do so then you must report the situation to the head of the department.
3. The head of the department will deal with the reported money or goods transparently and fairly, and must report the results to the inspection office which is responsible for corporate ethics.
Article 8 (Hosting)
1. It is permitted to offer or receive hosting with stakeholders within normal limits, such as meals. However, offering hosting at adult entertainment facilities with hostesses of the opposite sex is prohibited.
2. Receiving hosting in excess of conventional standards is prohibited, and if it is impossible to avoid, then the situation must be reported to the head of the department.
3. Providing hosting to a stakeholder in excess of conventional standards at company expense, or participating in an event which includes hosting in excess of conventional standards, requires prior approval from the head of the department.
Article 9 (Conveniences)
1. Accepting transportation or accommodations, etc., at the expense of a shareholder is prohibited. However, an exception is made for conveniences which are regularly offered to participants in an event which is held by a stakeholder.
2. If it is impossible to avoid receiving conveniences in excess of the permitted standards, the situation must be reported to the head of the department.
Article 10 (Money for Congratulations or Condolences)
Accepting transportation or accommodations, etc., at the expense of a shareholder is prohibited.
1. Informing a stakeholder of your or a coworker’s occasions for congratulations or condolences is prohibited, and informing them through a third party is considered equivalent to informing them directly.
2. When informing fellow employees of occasions for congratulations or condolences, close family members are considered to be limited to your or your spouse’s grandparents, parents, and children.
3. Money for congratulations or condolences exchanged between coworkers should not exceed generally accepted social standards.
4. It is a fundamental rule not to receive money for congratulations or condolences from a stakeholder. However, if doing so is unavoidable, the amount should not exceed generally accepted social standards. If money in excess of this amount is received, the full amount must be returned immediately. If it is not possible to do so, the situation must be reported to the head of the department, and the head of the department much transfer it to the inspection office.
5. If the representative in charge of corporate ethics requests information about the return of money for congratulations or condolences received by an employee from a stakeholder, relevant documentation must be submitted.
Article 11 (Financial Transactions)
1. Engaging in financial transactions such as loans, standing guarantee for a loan, leasing real estate, etc. with a stakeholder is prohibited.
2. If it is impossible to avoid engaging in a financial transaction with a stakeholder due to a close personal relationship, the situation must be reported to the head of the department.
Article 12 (Support for Events)
1. When a department-level event or an event for those with common interests is held with support from the company, receiving money or goods in support of the event from a stakeholder is prohibited.
2. Receiving conveniences such as transportation needed for the event, locations, services, etc., is considered to be equivalent to receiving money or goods.
3. If it is not possible to avoid receiving support for the event, a report must be made to the head of the relevant department or the head of the supervising department.
Article 13 (Improper Use of the Budget)
1. Company money which has been budgeted for meetings or performing work may not be used for personal use.
2. It is a fundamental rule to use a company credit card when paying for expenses, and funds must be used in accordance with budgetary goals and designated legal standards.
Article 14 (Responsibilities of the Head of the Department, Etc.)
1. The head of the department should continually provide education and consultation to make sure that the employees for whom they are responsible adequately understand these guidelines.
2. The head of the department should institute appropriate preventive measures to ensure that the employees for whom they are responsible do not violate these guidelines.
Article 15 (Duty to Report and Guarantee of Secrecy)
1. If it is discovered that an employee has violated these guidelines, a report should be made to the inspection office, which is responsible for corporate ethics, by the fastest and most convenient means.
2. As soon as the head of the department is informed that an employee for whom they are responsible has violated ethical standards or these guidelines, they should fill out the designated documentation and file a report with the inspection office, which is responsible for corporate ethics.
3. The department which is responsible for corporate ethics can investigate the facts related to the matter which has been reported if necessary, and the employees involved must cooperate proactively with this process.
4. The employee may not cause any disadvantage to the informant or reporter involved, and may not leak information about their identities.
5. If there is a risk that the informant or reporter may be disadvantaged, personnel management measures such as a change of position may be taken if the person in question so wishes.
6. If an employee learns of a report in the course of their work or by chance they must keep it secret, and if they leak information about the report then disciplinary action may be taken.
Article 16 (Rewards and Disciplinary Action)
1. The company may give employees whose efforts contribute to achieving the goals of these guidelines a commendation or an appropriate monetary reward.
2. The company will severely reprimand employees who have violated these guidelines in accordance with related regulations.
Article 17 (Prohibition of Retaliation)
No retaliatory measures may be taken against contractors for reasons such as reporting of unfair transactions or agreeing to grievance mediation, or in the case of subcontractors taking issue with the content of a contract, including actions which may disadvantage a contractor such as cancelation of a contract or unreasonable disciplinary actions.
Article 18 (Evaluation Procedure)
If it is necessary to visit a supplier, prior notice of the visitation schedule must be provided by paper or electronic means, and confirmation must be received.
Article 19 (Interpretation)
1. If a family member, relative, acquaintance, etc. of an employee violates these guidelines using the name of the employee, this is considered to be equivalent to an action by the employee themselves.
2. If there are questions about any issue not explicitly covered by the ethical standards and these guidelines, an inquiry should be made to the department in charge of corporate ethics and the interpretation provided should be followed.
- Supplementary Provision
These regulations are enacted as of July 1, 2013.
Detailed Implementation Guidelines
1. Scope of Application
These guidelines specify standards for action and work procedures to allow the employees of each department to efficiently implement the ethical standards.
2. Goal
The purpose of these standards is to provide for the efficient implementation of ethical standards by employees, take the lead in creating a workplace culture based on mutual trust, protect the company’s assets, maintain the dignity of KORENS's employees, promote the legal, transparent performance of given work, and ensure fair, reasonable decision making.
3. Standards for Action for the Implementation of Ethical Standards
① Standards for action within the organization
Polite, respectful speech must be a way of life.
Company computers must not be used for entertainment or anything unrelated to performing work.
You may not instruct less senior employees to perform personal tasks or errands.
You must not pressure fellow employees to do anything they do not wish to do (including pressuring them to drink alcohol or go for a second round after a company meal, etc.).
You should understand your fellow employees’ difficult personal circumstances and try to help them. (Reciprocal cooperation between employees and the organization gives the organization vitality.)
You should work toward personal development, and leaders should create an atmosphere which encourages this.
Employees should praise each other’s strengths and refrain from maligning them for their weaknesses.
Work actively for the protection of company information.
You should continually check that none of your actions violate the corporate ethics using the corporate ethics self-assessment.
② Standards for action with stakeholders
You should respond kindly to outside phone calls, and refrain from trying to exercise authority over or give unilateral orders to stakeholders.
Every possible effort should be made to accommodate or improve any complaints or difficulties of stakeholders.
You should understand stakeholders’ perspectives and work toward accommodating their requests and solving problems.
You may not use work as a pretext to request company information from a stakeholder or use information obtained in the course of business for personal use. (You may not accept hosting or gifts from stakeholders beyond the level which is generally considered typical.)
Refrain from interacting with or meeting employees of stakeholder companies outside of work unnecessarily.
You may not accept any gifts from stakeholder companies for holidays or the end of the year, and information related to enacting ethical standards will be announced in advance.
Those outside the organization should not be informed of sports meets and events, and if stakeholders wish to sponsor an event, you should explain the ethical standards and politely decline their offer.
Offers from employees of client companies to dine at places outside the boundaries of what is considered normal, such as high-end adult entertainment facilities, should be refused.
If you discover after the fact that your actions have been in conflict with the ethical standards, you should report this to your superior.
4. Ethics Education
Whether employees have a desire to implement the ethical standards and whether they have made efforts (contributions) toward preventing violations of the ethical standards will be reflected in work evaluations and commendations.
