International Standard Compliance Evaluation Certification
Taekwang Group's textile and petrochemical affiliate, Taekwang Industrial, has obtained the compliance management system certification 'ISO 37301' certified by the Korea Productivity Center Certification Institute. On the 20th, at the certificate awarding ceremony held at Taekwang Industrial's Jangchung-dong headquarters, Taekwang Industrial CEO Seong Hoeyong and Korea Productivity Center Certification Institute Director Kang Jangjin posed for a commemorative photo. Photo by Taekwang Industrial
Taekwang Group's textile and petrochemical affiliate, Taekwang Industrial, has obtained the compliance management system certification 'ISO 37301' certified by the Korea Productivity Center Certification Institute.
On the 21st, Taekwang Industrial announced that it held a certificate awarding ceremony at its headquarters in Jangchung-dong, Jung-gu, Seoul, attended by Seong Hoe-yong, CEO of Taekwang Industrial, Kang Jang-jin, head of the Korea Productivity Center Certification Institute, and Kim Tae-woo, head of the Standards Certification Division.
The 'ISO 37301' acquired by Taekwang Industrial is an international standard related to corporate compliance management systems. It is a certification system that evaluates whether compliance management processes, policies, and risk management systems are established and operated according to international standards.
Taekwang Group declared the introduction of a Fair Trade Compliance Program on September 23. Since then, Taekwang Industrial has strengthened its efforts for compliance management. First, to reinforce board-centered management, the number of inside and outside directors, which was previously 2 and 3 respectively, was increased by one each, expanding the board to seven members. Additionally, part of the articles of incorporation was amended to establish an ESG (Environmental, Social, and Governance) Committee within the board.
To comply with legal, regulatory, and ethical requirements for the 'ISO 37301' certification, Taekwang Industrial also established a 'Compliance Management Policy' outlining the principles and directions of compliance management. Furthermore, a compliance officer was appointed, and ethics school and Fair Trade Compliance Program (CP) training were conducted for executives and employees. Recently, a sustainability management report was also published. As a result of these efforts, Taekwang Industrial received a B grade, one level higher than the previous year, in this year's KCGS ESG evaluation by the Korea Corporate Governance Service (KCGS).
Taekwang Industrial has been steadily pursuing ISO certifications to strengthen its ESG competitiveness. Many factories of Taekwang Industrial and Daehan Hwasum obtained the quality management system 'ISO 9001' certification by 2022, and five business sites in Ulsan acquired the safety and health management system 'ISO 45001' certification. This year, it also received the environmental management system 'ISO 14001' certification.
Seong Hoe-yong, CEO of Taekwang Industrial, said, "The acquisition of the ISO 37301 certification is the result of Taekwang Industrial's continuous efforts to establish a global-level compliance management system," adding, "We will continue to strengthen ESG-centered management and efforts to create a transparent and healthy corporate culture."
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