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Compliance program on competition policy in Korea

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Frame of Image s a minimum requirement for an effective management of CP. The common elements included in the CP can be s u m m a r i z e d as the following seven items: the CEO's declaration of compliance objective and policy, appointment of the Compliance Officer, production and distribution of the compliance manual, implementation of compliance education for staff members, an in-house corporate monitoring system, disciplinary measures against competition law violators, and a document management system.
(2) Establishment of Corporate CP in Korea
In July 2001, 'The Committee on Compliance for Fair Trade' formed and announced a 'Code of Conduct for Corporate Compliance Programs' and r e c o m m e n d e d that all corporations use it as guidance for voluntary observance of fair trade market discipline. In the process of drafting the 'Code of Conduct', a public hearing was held to accommodate the views of
professionals and members of industry circles and corporations. The individual corporation constructs and operates the in-house corporate compliance program based on the suggested 'Code of Conduct' to prevent a breach of competition law. It implies that corporations lay out their own programs for voluntary compliance with relevant competition laws. A c o r p o r a t e compliance program has since been adopted by over 220 companies, and it has been carried out in earnest. The program has been spread to many sectors of industry including finance and insurance, department stores and distributio


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Title Compliance program on competition policy in Korea
Similar Titles
Material Type Reports
Author(English)

Shim, Young-Seop

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2006
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 11(no. 1)
Pages 11
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KDI School of Public Policy and Management

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