Ecopro Establishes Compliance Office... Appoints Former Fair Trade Commission Official as New Head

Vice President Song Jeong-won, Experience Seconded to OECD
Plans to Establish Internal Control System and Revise Company Policies

On the 6th, Ecopro announced that it has separated the existing Compliance Team under the Legal Affairs Office to establish a new Compliance Office.

They appointed Vice President Song Jeong-won, who previously served as the Head of Market Structure Improvement Division at the Korea Fair Trade Commission, Head of Distribution Trade Division at the Corporate Transaction Policy Bureau, and Director of the Busan Regional Fair Trade Office, as the new head of the Compliance Office.

Vice President Song graduated from Seoul National University with a degree in Economics, passed the 37th Administrative Examination, and has extensive experience in key positions at the Korea Fair Trade Commission over 26 years after working at the Ministry of Trade, Industry and Energy. He is also recognized as an expert in corporate transaction policies and has in-depth knowledge of compliance management policies of advanced global companies, having worked for three years at the Organisation for Economic Co-operation and Development (OECD).

Song Jeong-won, new head of the Compliance Office at EcoPro
[Photo by Yonhap News]

Ecopro plans to gradually enhance compliance management centered around the Compliance Office.

First, they will establish internal control and risk assessment systems across all affiliates and strictly address unfair trade, anti-corruption, and ethical violations. They will also revise internal policies and procedures related to ethical management and promote various programs to cultivate ethical awareness and compliance spirit among employees and partner company staff.

As part of strengthening internal controls, Ecopro has built a compliance IT system, and employees of the group’s listed companies are subscribed to the Insider Trading Alert Service (K-ITAS) to continuously manage and prevent insider trading issues in advance.

Recently, Ecopro CEO Song Ho-jun emphasized through an internal email to all employees that “Ecopro employees must not only comply with legal standards but also avoid any breaches of ethical standards.”

An Ecopro official stated, “It is important to prevent unfair conduct by employees in advance and raise ethical awareness before detecting and punishing such behavior,” adding, “We will vigorously promote compliance management to establish a transparent and ethical corporate culture.”