JW Group, since declaring its vision of "The Most Trusted Global Healthcare Group," has promoted relentless change and innovation.
In this era of global competition, we understand that it is impossible to survive, let alone thrive, without business integrity based on transparency. With that notion in mind, we have been exercising business integrity for the sake of a sustainable growth.
In 2007, JW group introduced a voluntary compliance program for fair trade to observe Fair Trade Act and Pharmaceutical Affairs Act. Since then, we have clarified our will for voluntary compliance, continued to educate our employees, improved regulations, and strengthened action programs.
Since November 2010, the Korean government implemented a "dual punishment system" of prosecuting both the provider the recipient of a rebate. Since July 2014, the government also implemented a "two-strike out system" which can permanently exclude the subject of punishment from receiving health insurance benefits.
Especially, Improper Solicitation and Graft Act, to be implemented on September 28, 2016, prohibit any acts of bribery in all areas of business as well as in sales activities. The Act enables regulation on the acts of providing and receiving money or its equivalence even when they are not related to work or non-reciprocal.
All employees should actively cooperate in observing business integrity with responsibility, because violating the law despite the external environmental change and internal efforts to exercise business integrity can bring a great damage to the company and our customers. Upon knowledge of a violation, the employee should immediately report to the related department to deal with the case according to the legal procedure and prevent it from happening again.
JW Group will make a full-fledged effort in observing legal and moral regulations so our group can continuously create outcomes through business integrity by preemptively removing factors that undermine business integrity and legality. We also ask for the employees' continuous and thorough cooperation in this matter.
September 28, 2016 Compliance Committee of JW Group Chairman Jae Kwang Chun