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Fair Trade Program

What is CP

What is the Compliance Program (CP)

A compliance program is a compliance system operated by companies to voluntarily comply with fair trade laws and regulations. It is voluntarily operated by companies that may take a variety of forms depending on the characteristics of the relevant industry and the company operating the program.

Focusing on prevention rather than after-the-fact response to violations of the Fair Trade Act, we provide clear standards of conduct to our employees so that they do not violate the Act without knowing. Through these efforts, we strive to facilitate transparent management based on trust-based relationships with our partner companies, while maintaining a genuine partnership that contributes to mutual development. Accordingly, Galleria department stores officially declared their voluntary compliance on March 26, 2002, and are making continued efforts toward compliance by organizing the Compliance Council, undertaking education, inspection and supervision, and undertaking sanction measures.

Elements and Disclosure of Operation of the CP

In order for efficient operation of the compliance program, the following seven elements need to be satisfied

  • Declaration of the management’s determination toward compliance
  • Designation and operation of compliance manager
  • Preparation and distribution of the Compliance Guide
  • Implementation of Education Programs
  • Establishment of a Monitoring System
  • Sanctions on Employees Violating Fair Trade Laws
  • Establishment of a Document Management System

Announcement of the Operation of the Compliance Program (CP) [June 1, 2016]
- Incentive System

Announcement
Guidelines
Newspaper Announcement

Type: 5 columns x 37cm, 5 columns x18.5cm, 5 columns x15cm, 5 columns x12cm, 3 columns x10cm

Business Site Announcement

Paper Size: 78.9cm x 109cm

Subjects of Mitigation

A or higher in level assessment

- Adjustment by lowering one level in disclosure order or reduction of disclosure period

Ex Officio Investigation
Applied Fields
  • Violations of newspaper announcements
  • Consumer protection laws Violations (of the Act on Fair Labeling and Advertising, Door-to-Door Sales Act, Act on Consumer Protection in Electronic Commerce, Act on the Regulation of Terms and Conditions, etc.)
  • Violations by franchise businesses

Subjects
  • A or higher in level assessment

Exemption Period
  • A or higher in level assessment: 1 year
  • AA or higher in level assessment: 1 year and 6 months
  • AAA or higher in level assessment: 2 years

Organizational Structure

At Hanwha Galleria Co., Ltd, compliance organizations and managers across the company, at each branch and the headquarters, the Compliance Council and the Sanction Committee closely cooperate for efficient implementation of fair trade compliance

Hanwha Galleria
Co., Ltd.Compliance manager

Hanwha Galleria
Timeworld Co., LtdCompliance manager

  • Companywide Head of compliance
  • Branches/
    Headquarters     Head of compliance
  • Sanction
    Committee     HR Department
  • Compliance
    Council

Major Direction

  • Maturation Phase
  • Reinforcement Phase
  • Development Phase
  • Awareness-raising Phase
  • 2002
  • 2007
  • 2010
  • 2013
  • 2018
  • 2019~
  • Awareness-raising
    Phase
  • Development
    Phase
  • Reinforcement
    Phase
  • Maturation
    Phase
  • Spreading Corporate
    Values Mature
2002 ~ 2007

Introduction and Awareness-raising Stage

Direction

Practicing compliance awareness
in everyday life by establishing the
CP system (CP at the judiciary level)

Major Tasks
  • Declared fair trade compliance
  • Established CP operation regulations
  • Compiled CP Standards Handbook
  • Established CP operation system
  • Established CP operation organization
  • Implemented CP education
2007 ~ 2010

Promotion Stage

Direction

Enhancing the corporate image
through CP and establishing its
position as a trusted company
(CP at team/individual level)

Major Tasks
  • Compiled CP operation guidelines
  • Developed voluntary CP operation programs
  • Promoted CP as part of the corporate culture
  • Developed CP diagnosis indices
  • Developed and operated strategic CP activities
  • Developed CP evaluation/rewards
2010 ~ 2012

Corporate Value Enhancement Stage

Direction

Enhancing corporate stability
through compliance management
and becoming a respected company
(achievement of ethical management)

Major Tasks
  • Implemented CP diagnosis/evaluation indices
  • Systematized monitoring and risk management
  • Expanded rewards for CP performance
  • Grew into a first-tier company through compliance management
  • Strengthened sustainable management capacity based on compliance management
2013 ~ 2018

Corporate Culture Maintenance/
Development Stage

Direction

Playing its role as an industry leader
through stable operation of compliance
management

Major Tasks
  • Maintained its position as an exemplary compliance management company
  • Improved and developed the CP operation system
  • Integrated with ethical management system
2019 ~

Corporate Culture Stage

Major Tasks
  • Spread the values of an exemplary compliance management company
  • Achieved a virtuous cycle of CP operation system
  • Completed the integration with ethical management system