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The Samsung Group, Korea’s leading industrial organization, has established new principles to foster company-wide ethical and transparent management.
The code is apparently a response to a social transparency pact agreed after discussions involving government, politicians, businesses and civic groups, and is a contribution to Korea’s anti-corruption campaign.
It consists of five main principles – observation of the law and ethical standards, a clean organizational culture, respect for customers, stockholders and employees, concern for the environment, safety and health, and fulfilment of the company’s responsibility as a corporate citizen. Application of the code will be overseen by a newly appointed committee.
In the past ten years Samsung has contributed 2.1 trillion won ($2bn, £1.1bn) to social welfare, environment protection and arts and science causes.
The code is apparently a response to a social transparency pact agreed after discussions involving government, politicians, businesses and civic groups, and is a contribution to Korea’s anti-corruption campaign.
It consists of five main principles – observation of the law and ethical standards, a clean organizational culture, respect for customers, stockholders and employees, concern for the environment, safety and health, and fulfilment of the company’s responsibility as a corporate citizen. Application of the code will be overseen by a newly appointed committee.
In the past ten years Samsung has contributed 2.1 trillion won ($2bn, £1.1bn) to social welfare, environment protection and arts and science causes.
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