Ethical Management

Ethical Management

SurplusGLOBAL strives to create a transparent and clean corporate culture based on ethical awareness. We will continue to grow as a company trusted by customers and society by raising corporate value and competitiveness through sound organizational culture.

Practice of ethical management

We will take the initiative and faithfully comply with the Code of Ethics and Code of Practice.
We will respect the rule of market economy in accordance with the principle of free competition, compete with fair methods and procedures without taking profits in an illegal way.
We will not engage in any unethical conduct such as fraud or corruption, nor will we direct, approve, support or tolerate it.
We will not accept or provide money to stakeholders related to our business.
We will strive to create a sound organizational culture based on mutual respect, communication, and trust between colleagues.
We will do our best to protect the assets and information of the company.
Code of ethics
Article 1 Customer Respect

01 Provision of Value to Customers

  • The employee shall always listen to the customers and uses an effort to provide the best service.
  • The employee shall actively accept the reasonable demand and proposal of the customer and must keep the promise with the customer.
  • The employee shall treat all customers fairly and equally and consider the customer as the first preferential standard of all acts.

02 Protection of Customer’s Interest

  • The employee shall preciously protect the material and intellectual properties, information and fame of the customer and use an effort in order not to infringe the customer’s safety and interest.
  • Unless otherwise the customer consents or the law allows, the employee shall not use the information and assets of the customer other than the purpose agreed or provide the same to any third party.
Article 2 Basic Ethics of Employees

01 Basic ethics

  • The employee shall share the management philosophy and vision of the Company and sincerely perform the obligations given so that the Company could achieve the target and value in pursuit.
  • The employee shall have high ethical values and use an effort to maintain and develop the personal dignity and the Company’s reputation.

02 Transparent and fair performance of the duties.

  • The employee shall draw a distinct line between public and private matters in carrying out the duties and always think the Company’s interest first in performance of the duties and shall not seek for a private interest utilizing his/her status in the Company.
  • The employee shall treat all internal and external customers equally without any discrimination and carry out the duties clearly and transparently. Further, he/she shall not commit any immoral or unethical act to be criticized from the society in relation to performance of the duties.
  • The employee shall carry out the duties honestly and fairly by well understanding applicable laws and regulations as well as regulations and system of the Company.
  • The employee shall not commit an act such as an unreasonable order, arrangement, request or granting a favor which may hinder a fair job performance.

03 Making a sound company culture

  • The employee shall use an effort in order to make a sound organizational culture which respects and cares each other based on the reliability between the colleagues.
  • The senior shall not give an unreasonable order to the junior while the junior shall follow the reasonable order of the senior but refuse the unreasonable order.
  • The employee shall not discriminate against the colleagues based on the sex, education, religion and native area, etc.
  • The employee shall not commit a speech or act containing social or cultural prejudice such as a sexual harassment or an insult against the disabled, which may infringe the human right of individual and hinder the working atmosphere.
  • The employee shall avoid any transaction which may conflict between the Company’s interest and personal interest. However, when such conflict occurs, the employee shall consider the Company’s interest first unless otherwise it breaches the ethical standard.

04 Protection of Assets and Information of the Company

  • The employee shall use the assets and information of the Company in accordance with the business purpose and shall not commit an act such as an embezzlement, misappropriation, information leakage and use of the same for other purpose which may cause damage of the assets.
  • The employee shall not disclose or leak any tangible or intangible assets such as the business secret and intellectual property without prior written permission or approval of the Company, and shall not use the same unreasonably during and after the service in the Company.
  • The employee shall not distort, manipulate or damage the information related to the Company or distribute the false fact or rumors.

05 Self-improvement

  • The employee shall establish the right values in accordance with the global business environment which rapidly changes and steadily use an effort in order to become a person who the Company needs through continuous self-improvement.

06 Safety and Risk Prevention

  • The employee shall comply with the laws & regulations and rules related to safety and use the best effort in the risk prevention.
Article 3 Fair Competition and Transaction

01 Fair Competition

  • According to the principle of free competition, the employee shall respect the market economy order and shall not take the profit with an illegal way breaching the commercial ethics and seeks for a bona fide competition with the competitors based on the mutual respect.
  • The employee shall comply with local and international applicable laws and regulations and basic orders in operation of the business and secure the superiority in the competition through legal way and procedure.

02 Fair Transaction

  • The employee shall carry out all transactions in equal position and shall not exercise unreasonable influence utilizing the superior status.
  • The employee shall have a transaction with the customer with fair and faithful attitude based on the principle of live-and-let-live and seek for co-development with the supplier by actively supporting them in order to strength their competitiveness.
Article 4 Responsibilities toward Employees

01 Respect for persons

  • The company shall respect the dignity and diversity of the individuals.
  • The company shall demonstrate the challenge spirit and creativity with mutual reliability and self-confidence based on the consciousness of master in order to seek for the happiness together with the colleagues.

02 Fair Treatment (Prohibition of Discrimination)

  • The company shall grant an equal opportunity in education and promotion etc according to the competence and qualification of the individuals.
  • The company shall evaluate the performance and competence of the individuals and reasonably compensate according to fair standards and shall not discriminate against them based on the sex, education, age, religion, native country or physical disability, etc.

03 Human Resources Development

  • The company shall use an effort to develop professional human resources and make an organizational culture which may promote the autonomous thoughts and actions.
  • The company shall prepare the actions such as the system establishment, education and training necessary for human resources development in long-term viewpoint.

04 Safety and Happiness

  • The company shall actively use an effort in order to make a work environment where the workers may work safely and improve the life quality such as the health, education and welfare of the colleagues and family.
  • The company shall arrange the system for safety and health of the colleagues and conduct the related education.
  • The company shall put an effort to make a matured organizational culture where they respect the privacy of the individuals and seeks for happiness together based on the mutual reliability and understanding.
Article 5 Social Responsibilities and Obligations

01 Contribution to Development of Country and Society

  • The company shall sincerely perform the obligations required by the society and contribute to the development of the country and society by growing the Company to a sound corporation.

02 Social Responsibilities

  • The company shall contribute to the development of country by creating the job and paying the tax honestly and also contribute to the development of society through the welfare plan.
  • The company shall respect the principle of market competition, commercial ethics and transaction practice and shall not take a profit in illegal way.

03 Compliance with Local and International Laws and Regulations

  • The company shall comply with local and international conventions and regulations in relation to the investment and transaction in local and international commercial transactions, and respect the laws and regulations and culture of the area in question and contribute to the economic development of such area.

04 Environmental Protection

  • The company shall recognize the importance of the environment and use the best effort to prevent the environmental pollution and preserve the clean environment while complying with local and international environment related laws and regulations.
Article 6 Compliance with Ethical management

01 Compliance and Responsibilities

  • This Ethical management applies to the Company and all employees and the employee is obliged to comply with this Ethical management and submit an ethical oath.
  • Management and team leaders are obliged to actively support, manage and supervise the employees so that they could correctly understand and comply with this Ethical management.
  • The employee is obliged to report in accordance with the whistle blowing system when he/she finds or is proposed a case which breaches this Ethical management.
  • The employee shall have a strict disciplinary action according to the regulations and procedure as well as a thorough establishment of the cause when he/she breaches this Ethical management.
Article 7 Whistle Blowing System

01 Purpose of Whistle Blowing System

  • The purpose of Whistle Blowing System is to prevent the illegal act and minimize the risk by taking a proper action against an illegal act of the group or individuals in accordance with the regulations and Code of Conduct of the Company.

02 Objects of Whistle Blowing System

  • An act to receive the money or entertainment from an external stakeholder in relation to the work;
  • An act to obtain an illegal profit utilizing the status in the Company or inflict damage on the Company with an illegal means or intention;
  • An act to misappropriate or misuse the Company’s assets or disclose the business secret;
  • An act to leak the information and human resources of the Company;
  • Other unethical act related to an external stakeholder;
  • An act to inflict damage on the Company by intention or material negligence;
  • An act to hinder the public confidence of the Company by illegal and unreasonable process of the work;
  • A disadvantageous treatment with a reason to have refused the illegal and unreasonable order of the senior and involvement in such order in relation to the work;
  • An act of sexual harassment or discrimination;
  • Work discipline related matters; or
  • In case it is considered that one of above items may occur;

03 Policy to protect Whistle Blower

  • The status of the whistle blower shall be protected at any case and the company shall not disclose the status of the whistle blower without prior consent of the whistle blower or commit an act which may imply the whistle blower.
  • The whistle blower shall not receive any disadvantage in the status or be discriminated in working condition with a reason that he/she blew the whistle in accordance with this procedure or gave a statement or submitted other data.
  • When the employee has received disadvantage in the status or was discriminated in the working condition with a reason of the whistle blow or is expected to receive the same, he/she may demand the action to guarantee the status such as restoration of such disadvantageous disposition, suspension of the job change and disciplinary action and other necessary actions to HR Committee.
  • For the employee who has been involved in the misconduct or unethical act but reported the same, a punishment or disciplinary action shall be mitigated or exempted.
  • The employee who blew the whistle in accordance with this procedure shall not be deemed to have disclosed the business secret.

04 Method and Procedure of Whistle Blowing

  • Report through telephone, e-mail, letter, fax or interview.
  • Report to CEO or person in charge in HR department by a letter specifying the personal information of the reporter (may omit) and the breaching person and details of the breach.

05 Treatment

  • The person who received the report shall check the details of the report and convene HR Committee meeting to identify the personal information of the reporter, purpose of the report and trueness of the report, provided that CEO may do the same without convening HR Committee meeting when necessary.
  • HR Committee may demand the reporter to submit necessary data to the extent necessary.
  • HR Committee may request the investigation agency to investigate the matters reported when necessary.
  • HR Committee shall report to the prosecutor when such corruptive act requires an investigation and prosecution for criminal punishment.
  • The result of the treatment shall be notified to the reporter and the defendant when the report was proved to be true based on the investigation of the parties including the reporter and the defendant.

06 Compensation

  • When the details of the whistle blowing was material and significant that it brought a profit to the Company or prevented a loss or promoted the public interest of the Company, the benefit in the personnel matter (incentive, performance, promotion) shall be granted to the whistle blower.
  • When the Company recovered or increased the direct revenue or saved cost due to the whistle blowing and the legal action related to the whistle blowing is settled, the Company may pay the compensation to the whistle blower.
  • The compensation shall be calculated and paid considering the accuracy of the report, whether the report was already disclosed, whether the reporter was directly or indirectly involved in the illegal act and contribution to the prevention of damages.
  • Provided that, the compensation could be reduced or could not be paid for the mandatory report related to the work.

    ① Maximum amount of compensation: Up to 2 billion Won
    ② In case report the money receipt of other employee: Up to 300% of the money received, minimum 10 million Won.
    ③In case report the proposal to receive the money to the reporter or other employee: Minimum 2 million Won, up to 100% of the money proposed.
    ④Additional compensation could be paid when additional profit increase or loss decrease effect occurs due to the report.

    Amount report Criteria to pay compensation
    Less than 100 million Won 20%
    More than 100 million Won 20 million Won + 10% of the amount excessive of 100 million Won

07 Disciplinary Action

  • The employee who was found to have committed corruptive act according to the whistle blowing shall be disciplined considering the property damage of the Company, damage on the reputation of the Company, working atmosphere and other influence on the Company, etc.
  • When the corruptive act of the reporter was found due to the whistle blowing, the punishment against the reporter could be mitigated or exempted.

Corporate ethics counselling and reporting

You can have a consultation about ethic management or report, in order to practice business ethics and prevent unethical behavior in advance.
What to report

Receiving bribery, money transaction, or treat
Public embezzlement, theft, or pursuit of personal gains Negligence of duties
Company information and human resources leakage
Acts that violate other codes of ethics

Ethical Management

How to report

You can choose from a variety of methods such as e-mail, telephone, fax, and postal mail.
You can submit your personal information and violation details based on six principles.

Counseling and reporting are available to employees, stakeholders, and other related
people, and we guarantee the confidentiality of those who report.

Ethical Management


  • Phone+82-31-728-1400
  • Fax+82-31-728-1401
  • Address56, Seochon-ro, Namsa-eup, Cheoin-gu, Yongin-si, Gyeonggi-do, 17118, Korea (SurplusGLOBAL)

SurplusGLOBAL, Inc. | 56, Seochon-ro, Namsa-eup, Cheoin-gu, Yongin-si, Gyeonggi-do, 17118, Korea | Tel: +82-31-728-1400 Fax: +82-31-728-1401

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