Kakao announced on the 14th that it held a joint pledge ceremony for fair trade compliance.
This fair trade compliance pledge follows the recommendation made in February by the Kakao Compliance and Trust Committee (Junshinwi), an independent body supporting compliance and trust management, urging Kakao to establish a compliance system.
Kim So-young, Chairperson of Junshinwi, stated, "This will be the starting point for the entire Kakao Group to adhere to and lead a culture of fair trade," adding, "Junshinwi will also do its best to support Kakao in becoming a trusted company."
The joint pledge includes commitments to prevent violations of fair trade laws such as unfair trade practices, employee education and monitoring to internalize a culture of fair trade compliance, and the establishment of a compliance system.
Furthermore, Kakao has decided to be the first in the group to introduce the 'Fair Trade Compliance Program (CP),' which will be legislated following amendments to the Fair Trade Act. Other affiliated companies attending the pledge ceremony also promised to sequentially implement related programs starting next year. The group plans to form and operate the 'Kakao Fair Trade Compliance TF (tentative name)' to advance the group-wide fair trade law compliance system.
Jung Shin-ah, CEO of Kakao, said, "Taking this pledge as an opportunity, Kakao will strive even harder to become a company trusted and loved by the public through a fair and transparent corporate culture."
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