The ACRC creates Guidelines for Ethical and Compliant Management and implements in public companies, including LH, first

- Fifteen experts from different areas in our society were appointed in 30th of last month to participate in development of Guidelines for Ethical and Compliant Management, relevant indices and operational regulations -

(2 April. 2021, ACRC)

In the wake of the recent Korea Land and Housing Corporation (LH) speculation scandal, the Anti-Corruption and Civil Rights Commission (ACRC; Chairperson: Jeon Hyun-huei) makes Guidelines for Ethical and Compliant Management to build ethical management culture in public companies, and implement the guidelines at the LH first.

For this, on 30th of last month, the ACRC appointed 15 experts in different areas - academia, trade associations, civil society, and businesses - in our society to take part in the development of Guidelines for Ethical and Compliant Management, relevant indices, and code of conduct (operational regulations).

The ACRC selected and commissioned 15 members based on the recommendation of the participating organizations in the Private-Public Consultative Council for Transparent Society, which was established to collect opinions from all walks of life and present policy directions on higher integrity and anti-corruption policies in March 2018.

Since 2009, the ACRC has been operating corporate ethics management courses to strengthen awareness of ethical management and work capabilities among corporate executives and employees. On top of this, the commission provided support to spread and foster ethical and compliant management culture in companies by reinforcing communication and cooperation with related organizations, such as business associations, in line with the trend of strengthening anti-corruption and ethics rounds in the international society.

“In the era of globalization, the impact of corruption is growing. In particular, with recent LH speculation scandal, the importance of ethical and compliant management and anti-corruption in public companies is highly emphasized,” chairperson Jeon Hyun-Heui of ACRC.

She also requested to the members, saying “to strengthen corporate competitiveness and establish a fair, transparent and ethical management system, join your force in creating the guidelines for ethical and compliant management.”