Ethical management

TY Holdings practices ethical standards for all employees.

Code of Ethics Practice

  • Specify details and criteria for implementing ethical standards
  • Definition of terms (money, gifts / souvenir, hospitality, convenience, events, flowers/ wreaths, stakeholders, ordinary level)
  • Specifying the amount of money prohibited (Money and valuables, gifts/souvenirs, convenience, flower/wreath, money transactions, event support)
    (50,000 won for congratulatory money / 50,000 won per person for entertainment)
  • 01


    The purpose of this regulation is to clarify the details and standards for the implementation of ethical norms of executives and employees.
  • 02

    Definition of Terms

    The definitions of terms used in this code are as follows.

    • 2.1 Money and valuables: cash, checks, cards, gift certificates, coupons, goods, etc.
    • 2.2 Gifts/Souvenirs: Items exchanged as a token of congratulation, commemoration, and gratitude.
    • 2.3 Hospitality: Meals, drinks, golf, entertainments, performance, etc.
    • 2.4 Convenience: Benefits of transportation, accommodation, tourism, event support, etc.
    • 2.5 Events: An act of congratulation and sorrow sharing and mutual assistance by notifying the other party in a personal or physical exchange with the party in the event of an accident or an affair.
    • 2.6 Flower/Wreath: A collection of ornamental plants or flowers provided in connection with promotion, etc.
    • 2.7 Stakeholders: Individuals, affiliates, business partners, domestic and foreign public officials, institutions, etc. that may be directly affected by their rights or interests due to their task.
    • 2.8 Ordinary level: The extent to which the beneficiary can handle the affairs fairly without burden when determined by other employees or the general public with sound common sense.
  • 03

    Money and valuables

    • 3.1 No money or valuables shall be requested or received from interested parties in any reason, and no property or property interests shall be donated to interested parties in connection with the promotion of the company's affairs.
    • 3.2 Where money and valuables are inevitably received without recognition, they shall be returned immediately, and if they are difficult to return, they shall be notified to the support team.
  • 04

    Gifts and Souvenirs

    • 4.1 Do not receive gifts or souvenirs from interested parties. Where gifts and souvenirs are inevitably received, they shall be returned immediately.
    • 4.2 An entity may receive gifts and souvenirs that are normally provided to participants at events that indicate the company logo of the interested party or are supervised by the interested party, but politely decline to exceed the usual level.
    • 4.3 Where gifts and souvenirs are inevitably received from interested parties, they shall be sent to the support team
  • 05


    • 5.1 An entity shall not receive any entertainment provided by interested parties and shall respectfully refuse.
    • 5.2 In the case of meals, which are recognized as a normal level for business cooperation (less than 50,000 won per person), it is allowed, but if it is feared to change to the situation of entertainment, it should be stopped or avoided immediately.
  • 06


    • 6.1 The convenience provided by interested parties shall not be acceptable under any circumstances and shall be politely declined.
    • 6.2 Exceptions include accommodation, meals, and transportation for all attendees at official events.
  • 07


    • 7.1 Do not inform the interested parties of the event that occurred to them or their colleagues, and informing them through a third party shall also be deemed to be an act of their own notification. Exceptions include notice of an unspecified majority through newspapers and broadcasting.
    • 7.2 Information Guidance on congratulations and condolences between employees shall be made using the in-company intranet, and guidance by sending individual in-company e-mails and invitations (invitation and obituary), etc. shall be prohibited. The scope of relatives shall be limited to immediate family members, such as grandparents, parents, and children, of the employee himself/herself and his/her spouse.
    • 7.3 The subsidy between employees shall not exceed 50,000 won, which is the usual level in social routine.
    • 7.4 An entity shall not receive any contributions from outside stakeholders. However, if the subsidy is inevitably received, it is recommended not to exceed 50,000 won, and even in special cases, it shall not exceed 100,000 won. Where a person receives more than 100,000 won, he/she shall immediately return it.
    • 7.5 A wreath shall not be received from the interested parties and shall not be displayed even if it is inevitably received.
  • 08

    Flower/ Wreath

    • 8.1 A flower / wreath provided by an interested party shall not be received in connection with the issuance of personnel appointments, such as personal promotion, and shall be returned immediately if it is inevitably received.
    • 8.2 Where a stakeholder has expressed his/her intention to send flowers / wreath in advance, he/she shall actively endeavor to prevent them in advance, such as expressing his/her intention to refuse them.
    • 8.3 A flower or wreath sent to a personal relationship rather than to a stakeholder may be received.
  • 09

    Money Transaction

    • 9.1 Do not make money transactions with interested parties, such as money loans, loan guarantees, real estate leases, etc. in relation to their task.
    • 9.2 Where money transactions are inevitably made with interested parties due to personal relationships, the support team shall be notified.
  • 10

    Event support

    • 10.1 When an event, such as a team unit or a club activity, shall not receive monetary gifts from interested parties.
    • 10.2 The provision of convenience, such as vehicles, places, services, etc. necessary for the event shall also be deemed to have received monetary gifts.
  • 11

    Improper use of budget resources

    • 11.1 No company's budget resources, such as general management expenses, business promotion expenses, etc., shall be used for private purposes.
    • 11.2 In principle, a corporate card shall be used when executing expenses, and it shall be used in accordance with the budget purpose and standards prescribed by the company regulations.
  • 12

    Notification Processing

    • 12.1 An executive officer and an employee shall notify the support team of any violation of the Norms of Ethics or any violation of a third party.
    • 12.2 The support team may, if necessary, check the facts of the notified case, and the relevant executives and employees shall actively cooperate therewith.
  • 13

    Informant Protection

    The company shall take all measures to protect informants of non-ethics acts, and details thereof shall be governed by the "Guidelines for Protection and Exemption of Informants of Non-ethics Acts."
  • 14

    Sanctions against non-ethics

    • 14.1 The company shall impose sanctions on executives and employees who engage in non-ethics in accordance with the Employment Rules, Personnel Management Regulations, and the Punishment Committee Regulations.
    • 14.2 In principle, sanctions against non-ethics performers shall apply to all parties concerned.
    • 14.3 In principle, if a non-ethics act falls under a violation of the law, a party to the act shall be filed with the relevant department.
  • 15

    Creating a Pledge

    All executives and employees shall become familiar with the ethical norms (the Charter of Ethics, the Norms of Ethics, and the Norms of Practice) and pledge to implement them in a pledge to practice ethical norms (Form-1) every year.
  • 16


    • 16.1 Any violation of this regulation by family members, relatives, acquaintances, etc. using the names of executives and employees shall also be deemed to be his/her own act.
    • 16.2 Where there is a question about what is not specifically prescribed in this Regulation, the support team shall interpret and apply it in consultation with the relevant teams in accordance with the relevant statutes, regulations, and social convention.