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Compliance Program

Compliance Program(CP)

Hanwha Vision is committed to becoming a recognized company in business conduct. For this, we work on compliance program for our employees to comply with laws and ethics.

It is to monitor the activities of the officers and employees of the company ensuring their compliance with the laws and regulations

To prevent or minimize a serious risk by encouraging the officers and employees to observe the law in the course of performing their duties, and to carry out the activities based on the proactive, integrated and all-time operating system

Concept

It is a comprehensive and systematic support system for ensuring voluntary corporate law observance.
To prevent or minimize a serious risk by encouraging the officers and employees to observe the law in the course of performing their duties, and to carry out the activities based on the proactive, integrated and all-time operating system. To establish a compliance system ensuring the law observance in the course of performing the duties, and to operate and check this system.

Key Measures Implementing the Corporate Law Observance
A comprehensive internal control system that includes law observance and risk management systems

Factors Necessitating

Change in the external environment
The growing risk resulting from the legal requirements and prohibitions in respect of business administration The growing need for social monitoring and corporate social roles

Improper decisions and the corporate behavior resulting from the negligence of the legal risk will lead to both internal and external resistance causing heavy loss. Preparing for the compliance officer system stipulated in the revised commercial law (to be implemented in April, 2012).
The commercial law revised on March 11, 2011 requires that the listed companies, of which scale is prescribed in the law, appoint a compliance officer.

* Compliance Officer: A corporation is obligated by law to appoint a compliance officer to prevent disputes arising from corporate management by establishing an internal control system under which corporate decisions and management are monitored at all times for evaluating and managing the legal risk.

Compliance Officer(Chief legal counsel, a vice president of Compliance Team appointed by Chair of the Board) has responsibility for implementing our company’s compliance and anti-corruption agenda. Compliance Officer has direct reporting line to the Board and Compliance Committee and shall directly report to Chief Executive Officer and Chair of the Board periodically.

Compliance Committee(Board level) monitors and reviews of the performance of our compliance and anti-corruption agenda twice a year and Chair of the Board also review that once a year.

Key Factor and Stages

Planning

Establishing the law observance policy and basic principles, Establishing the compliance standards and procedures.

Implementation and Operation

Creating an organization (department) for compliance monitoring, Preparing the compliance monitoring manual, Establishing the code of conduct for employees.

Monitoring and Improvement

Checking the compliance in progress and punishment, Conducting the training and education, and revising the program and regulations.

Objective

To prevent corporate loss and protect the employees by avoiding a violation of the law.
To construct a sustainable business management environment trusted by the customer by ensuring the voluntary corporate law observance program and regulations

Areas Requiring

Anti-Corruption Policy

Zero tolerance for corruption and bribery
Hanwha Vision will never tolerate an employee or a partner company who are engaged in corrupt practices. We also expect our joint venture partners, suppliers, contractors,consultants, agents and other business partners to maintain a zero tolerance for bribery.

Resources of Anti Corruption
We have well-publicised resources available to all emloyees where help and advice can be sought. Especially, in Korea we have a website called CPMS(Compliance Management System) managed by Compliance Team to provide all employees located in Korea with counseling relating matters of Compliance and Ethics through guidelines/manuals upload and Q&A. CPMS is a window to ask trained counselors(including legal counsel) for ethic dilemma questions and get answers. Also, employees in other areas can reach Compliance Team via various methods such as visit, phone, mail, fax and e-mail instead of CPMS.
– TEL 82-02-729-4820/4824 | FAX 82-02-729-5893 | E-mail compliance1@hanwha.com

Compliance and Ethics Training
Compliance and Ethics training programs aim to provide support in understanding the standards of business conduct that everyone is expected to follow, giving practical guidance to help deal with compliance and ethical issues and identify where to ask for help.

※ Training Topics
– Understanding of Compliance and anti-corruption
– Hanwha Vision‘s Ethical standards and anti-corruption policy
– Main contents of relevant Acts (ex. FCPA, UK Bribery Act and etc) and relevant cases of sanctions

※ Audience
– mandatory training for all employees including expatriate employees, executives/managers, new hires, and etc.

Hanwha Vision is the leader in global video surveillance with the world's best optical design / manufacturing technology and image processing technology focusing on video surveillance business for 30 years since 1990.