In order to fulfill our social responsibilities and solidify our sustainable management foundation, KTCU proclaimed the ‘ethical management’ initiative in 2009 and has strived to establish a just and honest corporate culture. We have in operation the Compliance Office (Compliance Department) responsible for receiving and handling grievances, reports, complaints, and investigations of violations centered on the Ethical Management Committee, an ethics management decision-making body, and the department responsible for ethics management, selecting overall management, planning, and implementation tasks (Corporate Strategy Department). In addition, the Social Contribution Unit (General Affairs Department), Ethics Practice Unit (Practice Leader), and Ethics Promotion Unit (PR & Communication Department) perform each of their roles and responsibilities and promote systematic ethical management.
Contribution to UN SDGs
16.PEACE, JUSTICE AND STRONG INSTITUTIONS
16.5 Reducing corruption and bribery in all their forms
16.6 Developing effective, accountable and transparent institutions at all levels
Fair Contract System
Pursuant to Article 18 of the Code of Ethics (Fair transactions) and Article 23 of the Code of Conduct (Conclusion and execution of fair contracts), KTCU operates a fair contract system for all purchases of goods, services, and construction for KTCU to ensure “transparent contracts free of corruption”.
Target
The system applies to all purchases of goods, services, and public and private contracts commissioned by KTCU.
Effective Date
October 1 (Thursday), 2009
Special notice on fair contracts
Fair contract form for KTCU facilities (leasing contract)
Each department at KTCU is working hard to ensure the fairness of contracts by using the self-guideline for contract-related matters. Also, KTCU has enacted a special notice on fair contracts (standard template) to further promote the use of fair contracts. KTCU promises to take the lead in making contracts safer and more transparent.
Member Audit Request System
A system that allows members to request an audit (requires a petition signed by a minimum of 100 members), created as part of KTCU’s efforts to expand the monitoring and supervision of its activities.
Target
Illegal and unfair matters related to the overall business/activities handled by KTCU and its subsidiaries (entity subject to audit)
Audit Request Review Committee
Composition
Consists of a total of five members (two in-house members, three external members). Chairperson is elected from among the members.
Functions
Deliberates whether to conduct an audit upon receiving an audit request, matters concerning the operation of the Committee, and other matters requested by the full-time Auditor at KTCU in relation to the audit request.
Operation
When deemed necessary, such as for deliberation and resolution on an audit request, the Chairperson convenes a meeting. The meeting requires the attendance of a majority of the enrolled members, and a resolution requires the consent of a majority of the members present.
Audit procedure and notification
Complete the “Member Audit Request” form(add the list of signed members)
The claimant (representative) fills out the “Member Audit Request” and attaches a list of signed members (min. 100 members)
Submit the request form(in-person/via post)
Submit to the full-time Auditor at KTCU in person or by mail (post)
Deliberation
“Member Audit Request Review Committee” deliberates whether an audit should be carried out
Decision
Notification
Conduct audit
Dismissal: If the request does not meet audit requirements (failure to specifically describe violations against relevant laws and/or specific instances of corruption, etc.)
Notification: Notify the Committee’s decision on the audit request to the claimant (representative)
Conduct audit: In principle, any audit conducted as a result of an audit request must be completed within 60 days of the decision. (This period can be extended if necessary. If extended, the claimant (representative) is notified of the extension)
Notify audit results
Notify results to the claimant (representative) within ten days of completing the audit"
Member Audit Request Form
Through the “Member Audit Request System,” KTCU established its status as a Mutual Aid Association trusted by its members by using transparent management methods that expand opportunities for members to participate in general management. Going forward, KTCU will contribute to fulfilling its social responsibilities by establishing corporate ethical principles and raising awareness of compliance.
Target
Effective Date
