Incheon Total Energy

Incheon Total Energy strives for the sustainable growth and development
of both the company and society, endorsing values of human rights and
coexistence in all its business activities.
To achieve this, the company has established an ethical management system,
including ethical guidelines, ethical practice regulations, and self-compliance
rules, which serve as the basis for decision-making in business operations.

Furthermore, to promote ethical management practices, the company has
established a self-compliance office and conducts regular training to ensure
the stable implementation of these regulations.
Additionally, efforts are made to foster a corporate culture where all employees
and executives voluntarily participate in ethical management through various
ethical management education and activities.

• Article 1. Customer Satisfaction Management

  Recognizing that customers are the foundation of the company's profits and growth, the strives to achieve customer satisfaction by providing the true value that customers desire.

• Article 2. Coexistence and Co-prosperity with Cooperating Companies

  With transparent and fair transactions, the company seeks mutual growth through mutual trust and cooperation.

• Article 3. Respect for Employees and Executives and Adherence to Basic Ethics

  The company and its employees and executives faithfully fulfill their obligations for mutual growth and development based on mutual trust and respect.

• Article 4. Protecting the Interests of Shareholders

  The company protects the interests of shareholders by conducting efficient and transparent management activities that shareholders can trust and invest in.

• Article 5. Contribution to the Nation and Society

  As corporate citizens, the company respects national policies and all laws, fulfilling our social responsibilities.

• Article 6. Environmental, Health, and Safety centric management

  The company makes its best efforts for environmental protection and strives for accident-free workplaces.

Through compliance activities, the company ensures that relevant laws, company policies,
standards, procedures, and work instructions are adhered to in the performance of all
company operations. In cases of ethical conflicts or conflicts of interest with the company
during the course of work, decisions and judgments are made based on ethical norms and
the company's ethical code of conduct.

Furthermore, in cases of ethical conflicts and conflicts of interest, they are reported
to the CEO immediately, and depending on the severity of the matter, they are reported
to the HR committee and the board of directors for appropriate handling.

• Maintenance of System /
  Training and Promotion

  • Corporate Compliance Officer

    The company establishes and operates an overall system for the maintenance, education, and dissemination of relevant regulations necessary for its compliance activities, as well as a monitoring and supervisory system. This is to ensure that compliance activities within each organization are systematic and efficient. When training is required in relation to compliance activities, the Compliance Office develops educational materials and conducts training sessions.

  • All employees and executives are required to complete the company's compliance training.

• Monitoring and Supervision

  • Corporate Compliance Officer

    In accordance with the delegation of authority by the CEO, the company can oversee its compliance activities and take necessary measures for prevention and intervention in case of violations.
    All employees and executives may be required to submit a compliance pledge statement at least once a year. To effectively monitor and supervise violations of relevant laws and the compliance system, the company must establish and operate an internal whistleblower system.
    If a company employee or executive’s actions are found to be in violation of relevant laws or the company's policies, regulations, procedures, and guidelines, they must report it to the CEO. When necessary, the Human Resource committee may be involved to consider disciplinary actions against the employee or executive and recommend appropriate measures for the respective department. Additionally, every effort should be made to prevent the recurrence of similar violations.
    When necessary, the company may seek assistance from external professionals such as certified accountants, lawyers, etc., to carry out tasks related to its compliance activities

• Whistle-blower System

  • Employees and Executives

    All related to actual or potential violations of relevant laws, company policies, regulations, procedures, and guidelines have to be reported immediately to the Corporate Compliance Officer or the Compliance Office.

  • Corporate Compliance Office

    Upon receiving a report, the severity and veracity of the reported concerns will be assessed. In cases of significant importance, a direct investigation will be conducted, while minor issues will be reported to the respective department head for internal handling.

  • Corporate Compliance Office

    Upon receiving the investigation results from the department head or the Compliance Office, they must promptly report it to the CEO and take necessary actions regarding the alleged violations.
    If the reporting results in significant contributions to the company, such as prevention of illegal activities, cost reduction, or risk mitigation, the whistleblower may suggest an appropriate reward to the CEO.

  • Employees and executives should not face any personal or economic disadvantages as a result of their reporting, and the identity and related information of the whistleblower must be protected by conscientious management on the part of the recipient department head, the Compliance Office, and the Compliance Officer to prevent any disclosure.

• Handling of Violations

  • Corporate Compliance Officer

    Concerning individuals or departments found in violation of relevant laws, company policies, regulations, procedures, and guidelines, corrective actions and system improvements may be required.
    In the case of individuals found in violation of relevant laws, company policies, regulations, procedures, and guidelines, the Human Resource committee may be requested to impose sanctions

  • Individuals and departments that have received requests for correction and system improvement must prepare a plan for addressing the corrective and improvement requirements within one month from the date of the request and report it to the Corporate Compliance Officer.

• Reporting System

  • Corporate Compliance Officer

    All related to actual or potential violations of relevant laws, company policies, regulations, procedures, and guidelines have to be reported immediately to the Corporate Compliance Officer or the Compliance Office.

  • Head of Department

    Upon receiving a report, the severity and veracity of the reported concerns will be assessed. In cases of significant importance, a direct investigation will be conducted, while minor issues will be reported to the respective department head for internal handling.