CEO Message on Compliance Management
Compliance Manager’s Message
What is Fair Trade?
CEO Message on Compliance Management
Today’s declaration ceremony serves as an opportunity to recognize that, in this era of global competition, our company cannot survive—let alone grow—without embedding the principles of fairness and transparency as the core pillars of our management. It is also a moment to affirm that management practices that deviate from integrity will no longer be tolerated.
In the past, our awareness of fair competition and compliance has been somewhat insufficient. At times, we were even unaware that certain actions might violate fair trade laws. Meanwhile, regulatory authorities such as the Fair Trade Commission have been strengthening investigations and regulations to protect consumer rights. Violations of fair trade regulations now result in increasingly heavy fines. While unfair business practices may offer short-term gains, they ultimately weaken our company’s competitiveness in the long run.
The year 2024 marks our renewed commitment to recognize unfair trade practices as a major management risk. To strengthen our corporate credibility and ensure voluntary compliance with fair trade laws, we have decided to fully activate our Compliance Program (CP). Therefore, we must acknowledge the changing internal and external environment and establish a company-wide culture of fair trade. Above all, we must enhance employee awareness so that every member of Daedong becomes a fair player in the market and secures genuine competitiveness through fair rules of engagement.
Through today’s declaration, we recognize that practicing fair competition is an essential requirement for becoming a respected company trusted by customers and society. I ask every employee to voluntarily comply with and implement fair trade regulations, ensuring that Daedong Heavy Industry continues to be recognized as a reliable and trusted company.
Thank you.
Daedong Heavy Industry Co., Ltd. CEO
Compliance Manager’s Message
Even amid economic uncertainty and global volatility, the most reliable investment is compliance management. Only through compliance can we create and deliver sustainable value, earning the trust of stakeholders and customers. Companies that have engaged in unfair or unethical practices have often lost public trust, faced government sanctions, and eventually declined or failed. A single lapse in judgment or negligence can destroy the trust and achievements that took years to build—and may even eliminate future business opportunities.
Ethical and compliant management differentiates us from competitors and becomes a strategic advantage in a highly competitive industry. We must remember that compliance and performance are not in conflict—true competitiveness lies in achieving results through compliance.
Beyond simply adhering to laws and internal policies, we will foster a healthy corporate culture that empowers all employees to make responsible and ethical decisions even in the face of difficult challenges.
We will strengthen monitoring and take strict action against any violations of fair trade regulations—without exception. Whistleblowers will not face retaliation. Any individual who discloses their identity or discriminates against a whistleblower will face disciplinary action.
Only when all members recognize this importance and act accordingly can we achieve genuine compliance management. The “Fair Trade Compliance Manual” includes essential legal guidelines, case studies, and points of caution that every employee must understand and follow. By studying this manual, employees can enhance their understanding of fair trade and proactively prevent violations before they occur.
Daedong Heavy Industry will continue its efforts to promote fair trade, and I ask for the active participation and support of all employees. Let us work together to strengthen our foundation of fair and transparent business practices and grow into a leading, competitive company.
Fair Trade Compliance Manager Director Lee Ho-seon
Ensuring transparency and fair trade to achieve corporate sustainability and create social value
Establishing a culture of voluntary fair trade compliance with 'ZERO' violations of fair trade regulations
- What is Fair Trade Compliance?
-
Compliance refers to a company’s voluntary adherence to established laws and regulations. The Fair Trade Compliance Program (CP) is a self-regulatory system that enables companies to comply with fair trade laws through monitoring, education, supervision, and disciplinary measures.
※ Fair trade-related laws include the Monopoly Regulation and Fair Trade Act, the Fair Transactions in Subcontracting Act, and the Regulation of Standardized Contracts Act—designed to promote competition and maintain a fair market order.
“Fair trade aims to prevent monopolistic practices and regulate unfair transactions with subcontractors,
establishing a free and fair competitive market environment.
In this regard, we emphasize the following three key principles.”
-
01
Strengthen partnership roles with business partners for mutual growth
-
02
Protect technical data — the core of SME competitiveness
-
03
Encourage active participation and continuous improvement in the Fair Trade Compliance Program