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ESG

SK bioscience is committed to establishing a corporate culture
and system for sustainable product development.

Ethical Management

We pursue social and economic development by creating important values for stakeholders
and the society through
key sustainable management which will ultimately contribute to the happiness of mankind.

Code of Ethics

Customers

The company shall continue to satisfy and gain the trust of customers and ultimately grow with them.

Employees

The company shall create an environment in which employees can work voluntarily and enthusiastically, and employees shall contribute to the growth of the company and the creation of value for stakeholders.

Shareholders

The company shall increase its own value so as to create shareholder value and to this end, it shall enhance transparency and conduct efficient management.

Partner Companies

The company shall grow together with its partner companies and compete with its competitors in a fair and equitable manner.

Society

The company shall contribute to the development of society through social and cultural activities, as well as economic development, and comply with social norms and ethical standards.

Practice Guidelines for the Code of Ethics

Code of Conduct

Protect the company’s assets and information / Do not accept money or valuables or entertainment / Respect other employees

Compliance

Comply with fair trade laws and regulations / Fair trade practices under the principle of free competition

Attitude Toward Customers

Customer-centered management / Protection of customer information

Our Responsibilities Toward Society

Our responsibilities Toward society and the environment

Our Responsibility Toward Employees

Human-centered management / Safety and happiness of employees

Our Responsibility Toward shareholders

Increase enterprise value / Protect shareholder rights

Relationship with Business Partners

Win-win management / Fair competition with competitors

01 Purpose

The purpose of the Code of Ethics Practice Guidelines (hereafter ’Practice Guidelines’) is to provide specific criteria for behaviors and valuation required for all executives and employees of SK bioscience to appreciate and practice the Code of Ethics with integrity.

02 Employees’ Attitude

Earnestness to Work

All executives and employees shall recognize the rights and responsibilities they are given under the company policy and perform their duties with trust and good faith.

No Conflicts of Interest

  • In the case of conflicts of interest with the company about the performance of their duties, executives and employees shall place the interest of the company above all other interests.
  • Executives and employees shall make every effort to prevent or avoid anything that conflicts with the company’s interests.
Examples of Conflicts of Interest
  • Exploitation of any company asset or internal business information for personal gain.
  • Undue exercise of influence or power over any supplier or partner, e.g., improperly soliciting to hire a person or offer benefits.
  • Sidelines that require so much effort that could potentially impede work performance.
  • Contracts or transactions with the company, whether directly or through a third party.
  • Holding of stocks of suppliers over which the person has business influences, whether directly or indirectly or taking a managerial role in any supplier.

Protection of Company Assets and Information

  • Employees shall not exploit the company's assets for personal interest, transfer or lend it to a third party without approval.
  • Executives and employees shall actively protect the company's intellectual properties including trademarks, patents, and copyrights.
  • In a situation that is deemed or likely to cause damages to the company, executives and employees shall report to the company for measures to prevent or minimize the damage.
  • Executives and employees shall use the company's budget efficiently for the intended purposes based on the relevant standards and record all expenditures per the accounting standards and procedures.
  • Executives and employees shall not use the company's undisclosed information acquired in the course of business or provide it to a third party for personal gain.
  • Employees shall not divulge or provide company information and trade secrets internally or externally without prior approval.
  • Confidential information of the company shall be kept secure according to the information security policy, and for the disclosure of company information to the public, prior approval shall be obtained through a given procedure.

No Graft and Entertainment

  • Executives and employees shall not provide money, valuables, entertainment, etc. to stakeholders for illegal or improper business benefits.
  • Executives and employees shall not receive money, valuables, entertainment, or other personal benefits from stakeholders such as suppliers.
  • Any executive or employee who has received money or valuables against his/her will shall return it to the giver or report it to the company without delay.
  • However, to support a sound relationship with stakeholders, non-expensive, non-illicit gifts or meals may be exchanged, and detailed guidelines may be established and operated for each business unit.

Mutual Respect among Employees

  • Executives and employees shall respect each other regardless of rank and maintain basic courtesy and dignity as SK members.
  • No discrimination with gender, education, region of origin, marriage, race, nationality, religion, etc. is allowed.
  • No sexual harassment is allowed: it undermines sound co-worker relationships and work atmosphere.
03 Attitude towards Customers

Customer-Oriented Management

  • We endeavor to provide products and services that our customers need.
  • We respect the opinions of our customers and actively reflect them in our business activities.

Protection of Customer Information

We protect customer property and information safely under relevant laws and company regulations.

04 Employee Responsibility

Human-Oriented Management

  • We respect the personality of all members and treat them fairly and reasonably according to their capabilities and performance.
  • We create SUPEX experiences to help members maximize their brain utilization with will and enthusiasm.
  • We support the self-development of members and provide learning opportunities necessary for job performance.

Employee Safety and Happiness

  • Reorganize the system for the safety and health of members, and comply with related international standards, related laws, and company regulations.
  • We endeavor to help members to develop a spirit of challenge and creativity with mutual trust and pride, and thus achieve happiness together with their colleagues.
05 Responsibility to Shareholders

Enhancing Corporate Value

We maximize corporate value through transparent and efficient management through continuous innovation and share the results with shareholders.

Protection of the Rights and Interests of Shareholders

Management data shall be prepared according to all applicable laws and standards, and related information shall be disclosed faithfully under the applicable laws and regulations to protect the interests of shareholders.

06 Relationship with Business Partners

Shared Growth

We provide fair trade opportunities to our partners and pursue mutual benefit and shared growth with them without unfair practices abusing authority or power.

Fair Competition

  • We compete in good faith with our competitors based on the spirit of mutual respect.
  • Executives and employees shall not acquire or use the competitor's trade secrets through illegal or unethical methods in the recognition that such acts can cause serious damages to the company.
07 Role in Society

Society and Environment

  • We contribute to social development through the pursuit of zero accidents and environmentally friendly management.
  • We endeavor to contribute to the well-being of the entire society through active engagement in social contribution activities.
  • We comply with all laws and regulations of the country in which we operate and respect the traditions and culture of the local community.
08 Regulatory Compliance

All business activities at home and abroad shall be compliant with all applicable laws and regulations as well as trade customs of the country/region.

All transactions shall conform to the applicable fair-trade laws and regulations, and shall be conducted fairly according to the principle of free competition.

Accounting information shall be recorded with accuracy under the applicable laws, corporate accounting standards, and company regulations and protected against manipulation or false report.

Product quality and safety management shall be provided to the customer’s satisfaction, with the accurate product performance and risk data disclosed.

We shall abide by all applicable laws, regulations, and conventions on safety, health, and environment, whether national or international, and be active in promoting a safer working environment and protecting the environment.

09Application of the Code of Ethics and Practice Guidelines for the Code of Ethics

Targets and Obligations

  • The Code of Ethics and the Code of Ethics Practice Guidelines apply to the company (including domestic and foreign investment companies with management authority) and all executives and employees of the company.
    Our stakeholders are also encouraged to understand and practice the Code of Ethics.
  • Executives and employees are responsible for complying with the Code of Ethics and the Code of Ethics Practice Guidelines. Any questions or doubts in the interpretation and application should be consulted on with each head of the business line or the responsible department.

Reporting of Violations and Informant Protection

  • Executives and employees who become aware of any violation of the Code of Ethics and Code of Ethics Practice Guidelines shall report it to his/her immediate manager or the department in charge of the matter in question for immediate response and resolution and the protection of the interest of the company and its members.
  • For any legitimate violation report, the informant shall not receive any disadvantages.
  • All informants are protected and the same applies to those who provided statements and evidence in the fact-checking process of the investigation.
  • When the informant receives a disadvantage due to the violation report, he/she can request the ethical management authority to take protective measures such as correction and department transfer. In this case, the ethical management authority checks the facts and takes measures to resolve them, and implements measures to prevent recurrence (including sanctions against those involved).
  • The case investigator shall protect the identity of the informant as well as the information reported to prevent it from being disclosed against the will of the informant according to Attachment 1 (“Performance Guidelines”).
  • Any violation of the above provision on the protection of informants is subject to discipline, according to the provisions of personnel and reward and punishment.
10 Responsible Organization and Reporting Method

Responsible Organization

The organization in charge of the enforcement of the Code of Ethics and the Practice Guidelines is the CP Team. The above organization in charge of the ethical management shall respond to the advice of executives and employees, provide guidance/education to employees, and take appropriate actions against all violations.

Consultation and Report Channel

For inquiries or consultations regarding the Code of Ethics and Practice Guidelines, members are encouraged to contact the unit suggested below using any media, whether e-mail, telephone or postal mail, or in person.

11 Supplements
1. This Code of Ethics and Code of Ethics Practice Guidelines will come into effect on July 1, 2018. 2. Violations of this Code of Ethics and the Code of Ethics Practice Guidelines shall be subject to disciplinary actions per the Company’s regulations.
SK bioscience has a systematic system in place to implement fair and transparent management based on its code of ethics.
All members of SK Bioscience are subject to training programs and surveys to ensure their compliance system conforms to international standards,
and self-reform checks, investigations by reports, and continuous monitoring implemented to enforce follow-up actions as per internal regulations.

Ethical Management Framework

Ethical Management

Key Guidelines and Systems

Code of Ethics

Code of Ethics / Practice Guideline

Compliance Regulation / Marketing and Fair Trade Compliance Program Regulation

Prevent

Group training (online) and regular/as needed training

CP communication system (Ask CP)

Ethical management practice survey

Ethical management practice workshop

Detect

Investigation by reports

Self-reform system

Continuous monitoring over marketing/promotion activities

Respond

Analysis of investigation by reports, monitoring, and self-reform results

Regular/special audits

Disciplinary actions and training updates

SK bioscience provides various ethical management education programs as well as onboarding training for new hires
to ensure all members are engaged in ethics education, appreciate the practices and
value criteria of our code of ethics, and understand and voluntarily put into practice its purpose.

Ethics Education

  • Group Training Online (Annual)

    Inappropriate uses of corporate credit cards, prohibition of outside work, power trip, provision of entertainment and/or hospitality, etc.
  • Regular/As Needed CP Training

    Employees (twice a year),
    new hires/transfers (as needed)
  • Ethical Management Practice Survey

    23 questions on code of ethics and ethical management practices
  • Ethical Management Practice Workshop

    - Panel discussion sessions for 57 divisions
    - Focusing on building up decision-making ability with contentious issues
For responsible marketing, SK bioscience has established marketing activity regulations that comply with the Pharmaceutical Affairs Act and Fair Competition Code,
with regular training provided for related personnel and continuous monitoring of marketing and promotion activities.
Regarding suppliers, we manage our suppliers based on our supplier management regulation, with all suppliers required to pledge to a fair trade agreement.

Related Regulations

Compliance Regulation
Marketing and Compliance Program Regulation

Continuous Monitoring Over Marketing/Promotion Activities

  • 1 CP Regulations
  • 2 Training for
    Compliance Program
    (CP)
  • 4 Giving penalty points
    for violations leading to disciplinary actions affecting KPI
  • 3 Continuous monitoring over marketing activities

Business Partner (BP)
Management

  • Before contract Business
    Feasibility
  • Business Partner

  • After contract Check
  • Upon contract Contract
    With CP agreement
    signed
To ensure BPs practice ethical management and improve transparency in trade