Review of First Half Activities and Discussion of Second Half Strategies
Focus on Effectiveness of Recurrence Prevention
Namyang Dairy Products announced on July 3 that it held a regular meeting of the Compliance Committee at its headquarters in Gangnam-gu, Seoul. The purpose of this meeting was to review the results of compliance activities in the first half of the year and to discuss key focus areas for the second half.
The Compliance Committee serves as a control tower overseeing the company-wide compliance system, which is one of Namyang Dairy Products' core activities in legal and ethical management. Its responsibilities range from reviewing internal policies and regulations to providing advisory services on internal controls. The committee, launched in August of last year, is composed of experts from the legal, academic, and economic sectors: Lee Jeongmi, CEO attorney at Law Firm Logos (Chairperson); Cho Hyunjung, Chairperson of Bit Computer; Jang Younggyun, Professor at Sogang University's School of Business; and Lee Sangwook, Head of Compliance Management at Namyang Dairy Products. The committee holds regular meetings in the first and second halves of each year, as well as conducting ad hoc advisory and review activities.
Compliance Committee meeting held on the 2nd at Namyang Dairy Products headquarters. Namyang Dairy Products
During the meeting, members reviewed measures to prevent the recurrence of misconduct such as embezzlement and breach of trust by former management. They agreed on the need to continue strengthening internal controls and enhancing the effectiveness of ethical management practices.
Since the change in management last year, Namyang Dairy Products has continued company-wide innovation to enhance corporate transparency. Key pillars of these efforts include the establishment of a dedicated in-house compliance organization, operation of the Compliance Committee, introduction of an internal control system and an ethics management hotline, and compliance training for all employees.
This year, the company has declared its commitment to becoming a leading company in legal and ethical management. It is accelerating the advancement of its compliance system, focusing on three major management objectives: establishing a compliance management system, ensuring fair trade practices, and fostering a culture of integrity.
Lee Jeongmi, Chairperson of the Namyang Dairy Products Compliance Committee, stated, "We are strengthening company-wide compliance activities and systematic systems to enhance corporate sustainability. Through responsible ethical management, we will restore social trust and build a healthier organizational culture."
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