Ethical Management

Sustainability

GS Elevator is taking steps towards becoming a ‘Sustainable Global Company’ in line with its Sustainable goals and detailed action plans.

GS Elevator is committed to earning trust from customers and society through transparent and fair corporate governance. To this end, we actively establish the foundation of ethical management by formulating and implementing ethical standards. Furthermore, GS Elevator consistently promotes various ethical management activities through relevant education, system to uphold the principles of ethical business practices.

Ethical Management System

Code of
Conduct

Establishment of Value System Documented ethical principles and rules

Establishment of ethics code system
Ethics Charter / Code of Ethics / Code of Ethics Practice Guidelines

Compliance Check Organization

Compliance Check Organization Establishment and compliance with institutions and systems Monitoring

Establishment of a dedicated organization
Institutions and systems
Monitoring and auditing

Consensus by
Education

Raising Ethical Awareness Ongoing education and promotion

Implementation of Ethical Management dissemination training
Promotion of Ethical Management

Code of Conduct

Establishment of Value System Documented ethical principles and rules

Establishment of ethics code system
Ethics Charter / Code of Ethics / Code of Ethics Practice Guidelines

Compliance Check Organization

Compliance Check OrganizationEstablishment and compliance with institutions and systems Monitoring

Establishment of a dedicated organization
Institutions and systems
Monitoring and auditing

Raising Ethical Awareness

Raising Ethical Awareness Ongoing education and promotion

Implementation of Ethical Management dissemination training
Promotion of Ethical Management

Ethical Management Direction

01
Ongoing Ethical Management Policy and system improvement
02
Management and supervision of sound wor ethics of executives and employees
03
Education and promotion to raise ethical awareness
04
Establishing a culture of zero tolerance for unethical behavior

Ethics Charter

GS Elevator, which regards customer satisfaction as the foremost priority, aims to leap forward into a socially esteemed company through sustained value growth. For customers, we aspire to be a lifelong companion in their everyday lives, and for employees, a fulfilling workplace where dreams and aspirations come true, ensuring outstanding performance. To achieve this, we emphasize transparent management. We wholeheartedly support employees in working with voluntary passion. Our employees, grounded in core values of change, excellence, and trust, perform their duties fairly, creating value for the world and building a company that grows together.

Accordingly, we have established the following code of ethics as a standard for correct behavior and value judgment that all executives and employees must adhere to and pledge to put it into practice.

1. To improve customer value, we always think and act from the customer's perspective and pursue customer satisfaction through value creation.
2. We create a desirable corporate culture based on mutual trust and respect so that employees' expectations for growth and stability are realized.
3. We spare no effort to maximize profits for shareholders and investors.
4. We pursue common prosperity from a long-term perspective through mutual trust and fair trade based on the principles of free competition.
5. We do our best to protect the environment and pursue an accident-free workplace.
6. We will fulfill our responsibilities and obligations as a global corporate citizen and contribute to national development and social welfare through sound and efficient business performance.

Code of Ethics

Creating Customer Value

1. We realize customer-centered value by actively accepting customers’ legitimate demands and reasonable suggestions.
2. We strive to improve quality through continuous research and development and realize customer satisfaction with the best technology and service.
3. We protect customer information and property, and do not disclose or use customer information without prior approval.
4. We provide accurate information to customers and do not spread false information or provide false information.

Employee Respect and Obligations

1. We do not discriminate on any grounds, such as region of origin, disability, race, education, gender, age, or religion, and treat all executives and employees fairly.
2. We fairly evaluate and reward the capabilities and achievements of our executives and employees according to clear evaluation standards.
3. We respect the autonomy and creativity of our executives and employees, and provide full support to each individual to improve their capabilities.
4. We create a sound organizational culture that enables ethical decisions and actions based on honesty, trust, communication, and mutual respect.
5. We do not leak the company's business information to the outside world and protect all other tangible and intangible company assets.
6.We understand and comply with all company policies and regulations.
7. We respect and comply with all matters stipulated and recommended by the international community.

Shareholder and Investor Protection

1. We do not infringe on the interests of shareholders and investors by abusing internal information to trade stocks or provide related information to third parties.
2. We provide sufficient and accurate information so that shareholders and investors can make investment decisions at their own discretion and responsibility.
3. We accurately record and maintain financial information in accordance with relevant regulations and procedures.
4. We do not unilaterally infringe on the interests of minority shareholders in order to protect the interests of major shareholders.

Compliance with Market Economic Order

1. We respect the fair and free market economic order and prohibit unfair monopoly practices.
2. We do not engage in collusion with competitors regarding bidding, market allocation, pricing, etc., and we do not form or participate in collusion organizations or consultative bodies
3. We do not take unfair advantage by illegally acquiring or using undisclosed competitor information.
4. We seek various support measures such as finance, technology development, and management education to help our partner companies grow competitively, and pursue mutual sustainable management by fully cooperating.
5. When selecting partner companies, we fairly review the qualifications of all companies based on the company's objective and reasonable screening standards and provide fair opportunities.
6. We strive to establish a sound subcontracting transaction order and do not abuse our superior position to force unfair actions or engage in unfair transactions.
7. We manage our partner companies to fulfill their ethical responsibilities, and if corrective action is necessary, we notify them so that appropriate action can be taken.
8. We actively support the sustainable growth of our partner companies and encourage them to understand and participate in the company’s code of ethics.

Environmental and Safety-Oriented Management

1. We comply with domestic and international environmental laws and international agreements and do our best to preserve a clean environment.
2. We establish an Environmental Management strategy and promote sustainable use of resources by improving the efficiency of energy and raw material use and protecting water resources.
3. We establish design policies to minimize environmental impacts during the life of the building.
4. We secure and operate appropriate facilities and personnel necessary to prevent environmental pollution occurring during construction.
5. We demolish facilities to minimize environmental impact, and dispose of waste and recycle construction materials in an environmentally friendly manner.
6. We apply the latest technology to minimize carbon gas and environmental pollutant emissions generated during business activities, and actively respond to climate change by systematically managing these reduction activities.
7. We do our best to minimize damage to the ecosystem caused by business activities and protect biodiversity.
8. We practice safety basics and principles with the goal of zero accidents, and pursue a safety culture that respects life based on emotional safety.
9. We provide a safe working environment and take separate safety measures before carrying out work in workplaces with risk factors.

Responsibility for the Country and Society

1. We support international human rights conventions when carrying out construction work at home and abroad, and respect commercial customs and culture by complying with all laws and regulations of the countries and regions where we operate.
2. We respect and protect human dignity and the basic rights of each individual, and to this end, we provide equal employment and training opportunities to everyone without discrimination such as region of origin, disability, race, education, gender, age, or religion.
3. We do not allow our business partners or executives and employees to receive money, valuables, entertainment, or bribes for the purpose of providing personal convenience or preferential treatment.
4. We comply with anti-money laundering laws stipulated by international laws and therefore operate and manage funds legally.
5. We do not support any particular political party, politician, or candidate through political sponsorship, donations, or any other means, and we remain politically neutral.
6. We create jobs, pay taxes faithfully, and promote business in a way that contributes to the development of the country and local communities.
7. We recognize that social contribution activities are responsibilities and obligations to the relevant stations where our business is conducted, and we actively participate in community contribution activities.
8. We strive to minimize negative impacts that may occur during business activities, and operate our business by respecting and collecting the opinions of various stakeholders.

Practice Guideline

Purpose

It is aimed at provide all executives and employees of GS Elevator with standards for decision-making and action in ethical conflict situations that may arise in the course of work, and to clarify various standards for practicing ethical management.

Scope of Application

These practice guidelines are aimed at all stakeholders who have a direct or indirect relationship with our company, as well as executives, employees, customers, partner companies, and the local community.

Definition of Terms

Money and valuables : Economic benefits such as money (cash, cards, gift certificates, membership cards, etc.), goods, etc.
Entertainment : Meals, drinking, gambling, golf, unhealthy businesses, etc.
Convenience : Transportation, lodging, travel expenses, event support, sponsorship/assistance, etc.
Stakeholders : Executives and employees whose rights or interests may be directly or indirectly affected or affected by their work performance. Customers, partner companies, domestic and foreign government officials, organizations, etc.
Normal level : A level that is appropriate in terms of social norms and can be understood by other executives, employees, or third parties based on sound common sense;
In addition, the extent to which the person's work can be handled fairly in accordance with the principle of good faith to the extent that neither the giver nor the recipient feels a financial or psychological burden.

Money and Valuables

1. All members must not receive or request money or valuables from interested parties, and you cannot provide property or property benefits for the purpose of making unfair requests. However, promotional materials and souvenirs within the normal level are recognized as exceptions.
2. If you inevitably receive money or valuables without your knowledge, you must immediately return it to the donor. If return is difficult, report it to the Compliance team.

Entertainment

1. Entertainment may be given or received within the normal range that is helpful in forming healthy relationships with stakeholders. However, entertainment bars, speculative entertainment, etc. are prohibited.
2. When participating in events that include entertainment, education and training, knowledge exchange, etc., prior approval from the organization's leader is obtained for the relevant content.

Convenience

1. Stakeholders cannot request or receive convenience such as transportation, accommodations, tours, event support, etc. that involve financial or non-financial burdens.
2. For the sole purpose of providing convenience to stakeholders, unnecessary convenience exceeding the normal level shall not be provided.

Congratulations and Condolences

1. It is prohibited to notify external stakeholders of one's own or co-workers' congratulatory or condolence events. Congratulations and condolences between employees should be made using the company bulletin board, and individual company emails and notices should be avoided.
2. Information on congratulations and condolences is limited to immediate family members such as grandparents, parents, and children of the employee and his or her spouse, and congratulations and condolences do not exceed an appropriate level in accordance with social norms.
3. In-house congratulations and condolences cannot be paid from the department budget.
4. If money or valuables exceeding the normal level are received from internal or external stakeholders for reasons of congratulations or condolences, they will be returned immediately.

Financial Transaction

1. Monetary lending (borrowing or lending money and paying or receiving interest accordingly) between stakeholders is prohibited.
2. Debt repayment (card payments, credit card payments, loans, personal debt, etc.) must not be requested or provided to stakeholders. Internal congratulations and condolences cannot be supported from the department budget.
3. Unfair asset transactions with stakeholders (borrowing of movable and real estate, provision of collateral, free receipt, bargain purchase, etc.) are prohibited.

Insider Trading

1. In relation to job duties, stocks of interested parties cannot be held or traded in one's own name or in the name of one's family members.
2. Buying or selling company stock using inside information or recommending transactions to others is prohibited. In-house congratulatory and condolence funds cannot be provided to departments.
3. Any action that harms the interests of shareholders and investors, such as providing, sharing, lecturing, or disseminating information obtained directly or indirectly in the course of work to a third party, is prohibited.

Management Participation

1. Through stakeholders and joint investments, collaboration companies that have business relationships with the company are prohibited from having substantial ownership, investment, or management participation.
2. Stakeholders cannot serve as directors, employees, or engage in dual positions, concurrent employment, or side business activities in organizations in which they have partial or total equity.

Fair Trade

1. In the case of domestic business, we comply with the laws on monopoly regulation and fair trade of domestic corporations, and in the case of overseas business, we comply with the laws of the relevant country.
2. For business or non-business purposes, you may not engage in or contact unfair collusion with competitors, including price, transaction terms, payment terms, bidding, auctions, and market distribution.
3. Undisclosed competitor information may not be obtained or used illegally for personal or company benefit.
4. When selecting, contracting, and evaluating partner companies, we proceed in accordance with relevant regulations and procedures based on objectivity and fairness, and do not give preferential treatment to specific companies or limit transaction opportunities without specific reasons for disqualification.
5. It is prohibited to select a company run by a family member, relative, or acquaintance as a partner company, or to induce or mislead one to do business with a business.
6. It is prohibited to establish a one-sided transaction relationship for the purpose of benefiting the company or to intentionally disadvantage a specific partner company and cause it to suffer damage.
7. It is prohibited to purchase unreasonably low or high prices or adjust the volume of the company's volume.

Fair Reporting

1. Documents and counts must be accurately and honestly prepared, maintained, and reported based on facts in accordance with the company's document management principles and procedures, and must not be manipulated for performance purposes.
2. If a superior manager orders the manipulation of documents and counts, or if a subordinate who has been instructed to do so is tolerated even though he or she knows that such behavior is clearly unethical, it is considered and punished as the same unethical act.
3. Manipulation of document counts and unfair contents must be immediately reported to the organization's leader, and no false reports such as concealment, reduction or exaggeration of facts are allowed.

Asset Protection

1. To protect both tangible and intangible company assets, every effort should be made, and in the event of recognized company asset loss, it must be reported immediately to the organization's leaders or the Compliance team.
2. Company intellectual property learned through job duties should be safeguarded, and the company's tangible and intangible assets, including information, technology, and know-how, should be used only for business activities or purposes approved by the company.
3. Infringement or damage to the tangible and intangible assets and rights of various stakeholders in trade relationships related to business purposes is prohibited.
4. The use of IT assets, office supplies, etc., for personal purposes or their unauthorized removal is prohibited.
5. The use of the company's corporate card and budget for personal purposes not specified by the company is prohibited.
6. Inter-account budget transfers are to be executed after obtaining approval based on autonomous authority regulations and obtaining consent from the budget-owning department; unilateral allocation of funds is not allowed.
7. When providing lectures and sharing information with external stakeholders for public interest purposes, prior reporting to the organization's leaders is required.

Information Security

1. Personal information such as personal information or contact information of executives and employees must not be leaked to the outside world or aided in this.
2. Personal information of external stakeholders must be strictly protected in accordance with relevant regulations, and must not be leaked to the outside world.
3. External leakage of company data, including design, sales, and business-related information, is prohibited, and security must be maintained in accordance with relevant regulations.

Request

1. Stakeholders should not be asked to promise or accept offers that guarantee employment after retirement, conclusion of transactions, or any other form of benefits.
2. In relation to personnel matters, such as hiring, promotion, or assignment of relatives or acquaintances, do not make requests or receive requests from interested parties.

Political Activities

1. Individual suffrage and political views must be respected. However, personal political views and participation activities cannot be expressed as representing the company.
2. The company's tangible and intangible assets must not be used for political purposes, and all political activities are prohibited within the company.

Organizational Culture

1. We take an attitude of actively working to understand the company's core values and secure capabilities, and actively respond to essential requirements in accordance with the company's policies.
2. We must strive to enable active cooperation and smooth communication between company colleagues and departments, and do not hinder this.
3. We will not engage in any actions that cause loss to the company or undermine the organizational culture by failing to fulfill job ethics as an executive or employee, such as failing to complete assigned tasks or failing to attend work.
4. In accordance with laws and company regulations, you must faithfully perform the duties and instructions given to you on the job, and must not refuse them without special reasons.
5. Supervisors must not give subordinates work instructions that are contrary to laws and company regulations, and subordinates may refuse to perform work if they are instructed by their supervisors to do work that is contrary to laws and regulations.
6. When performing duties, we will not make decisions that may result in discrimination based on region of origin, disability, race, education, gender, age, religion, etc.
7. We will not disrupt the working environment through verbal abuse or assault, violate human rights, or engage in promiscuous private life, and maintain our dignity as executives and employees so as not to damage the company's reputation and image.
8. Any language or behavior that undermines healthy relationships, including physical, verbal, or visual behavior that causes sexual shame, is prohibited to stakeholders, including executives and employees. If you directly experience or witness sexual harassment, you must contact the organization's leader or Immediately report to the Compliance team.
9. All activities such as spreading rumors, encouraging a climate of distrust, and undermining a sound organizational culture are prohibited.

Reporting System and Informant Protection

1. Upon becoming aware of unethical behavior, you must immediately report or report it to the company (hereinafter referred to as “reporting”). To facilitate reporting, the company actively conducts internal and external reporting and reporting, such as by operating a Ethics Helpline center as follows.
- Website : GS Elevator > Ethical Management > Ethics Helpline(www.gselevators.co.kr)
- Address: 7th and 8th floors, GS E&C Seocho Tower, 2477 Nambusunhwan-ro, Seocho-gu, Seoul
2. The Compliance team will immediately conduct an investigation into the reported matter, and relevant executives and employees will actively cooperate with the investigation.
3. Executives and employees who become aware of reported information in the course of their duties or by chance must keep the information confidential, and may be subject to disciplinary action if they disclose it.
4. The company protects informant information to prevent disadvantages arising from reporting, and takes appropriate measures, such as changing positions, if disadvantages are expected.
5. No one may give an informant a personnel disadvantage or engage in any other act of retaliation, and anyone who violates this may be subject to aggravated punishment within the scope prescribed by the relevant regulations.

Sanctions for Unethical Behavior

1. The company may discipline parties involved in unethical behavior and related executives and employees in accordance with personnel regulations.
2. If a partner company's unethical behavior (providing money or valuables, intentionally compromising, etc.) is detected, sanctions may be imposed according to the partner company management guidelines.

Ethics Education and Ethics Pledge

1. The company conducts ethical education for employees to understand and practice the Ethical Management policy.
2. All employees are required to complete the company's ethical education, and failure to do so may be reflected in their department's ethical evaluation and individual performance evaluation.
3. All employees are expected to be familiar with the Ethical Management policy for the eradication of unethical behavior and sign a pledge. The timing and method of signing the pledge are determined by the Compliance team.
4. The company educates and promotes cooperation companies that have a business relationship with the company to comply with the company's Ethical Management policy.
5. The company obtains a consent form from cooperation companies that have a business relationship with the company, confirming their compliance with the company's Ethical Management policy.

Ethics Helpline

Practice of Ethical Management

The Ethics Helpline is a dedicated space established to practice ethical management alongside customers.
Operated and managed by a specialized ethics management team at GS Elevator, it serves as an internal and external communication channel, aimed at receiving reports of inappropriate requests or misconduct from company employees.

How to Use

Report Subject

Acceptance of money or entertainment
Participation in unfair shares of business partners
Lack of transparency in selecting partner companies
Illegal and improper use of company assets

Manipulation and false reporting of documents and counts
Workplace harassment and human rights violations
Other unethical acts related to internal and external stakeholders, etc.

However, slander not based on facts and matters related to personal privacy are excluded. We would like to inform you that any complaints received that we determine to be complaints will be transferred to the relevant department.

Reporting Method and Processing Procedure

Please write your report based on the 5W1H principle. You can report under your real name or anonymously.
Even if you report under your real name, if your contact information is false, it will be considered anonymous.
In the case of anonymous reports, the investigation may not be conducted or the processing results may not be responded to due to lack of information.
It may take at least 7 to 10 days depending on the internal investigation process.
Report investigations are conducted in a confidential, third-party manner.

Whistleblower Protection

The identity of the informant will not be disclosed without the informant's consent.
The protection of informants is based on real names and accurate evidence.
When reporting corruption related to oneself, extenuating circumstances are acknowledged to some extent.
If disadvantageous disposition or punishment to the informant occurs due to the reporting, restoration or equivalent compensation measures will be taken.
However, if it is slander that is not based on facts, or reports or complaints related to personal privacy, it may be excluded from protection.