Compliance Code of Conduct

SFMI employees are always trying to practice higher moral and social responsibilities.

We, as employees of Samsung Fire & Marine Insurance, fully understand that compliance and integrity serve not only as the core foundation of ethical business management and a platform to transform SFMI into a world-class company trusted by our customers, but also as a precondition for individual employees to conduct as representatives of the Company. As we uphold precious values of the Company and act with integrity in doing our business, we pledge to comply with the following code of business conduct

  1. 1. We understand and practice management philosophy, core values, and business principles of Samsung and hold high compliance and ethics standards for fair and transparent business activities.
  2. 2. In doing business, we comply with domestic and overseas laws and regulations, as well as following internal corporate regulations and bylaws. We neither engage in any acts that violate or may be suspected of violating laws and regulations, nor will we direct, approve, instigate, and condone such act.
    • Sound corporate culture We value dignity and diversity of individual employees and adhere to HR regulations including labor standards and equal opportunities for fair employment. We will not engage in any impropriety, e.g. sexual harassment, which may tarnish our reputation and compromise sound corporate culture.
    • Accurate accounting and disclosure We keep our financial records accurately in compliance with accounting rules of individual countries and internationally accepted accounting standards, and meet obligations in regulatory filings on corporate information and major business issues.
    • Fair competition We respect free and fair market order and adhere to fair trade rules of individual countries. We are committed to competing fairly through just means, and do not engage in collusion or any act that may hinder fair competition.
    • Protection of trade secrets and intellectual properties We strictly follow laws, regulations, and internal rules pertaining to the protection of trade secrets and intellectual properties, and do not leak trade secrets or classified information of the Company. We respect intellectual properties of other parties and do not infringe upon their rights to such properties through unauthorized acquisition, use, duplication, or distribution of their trade secrets.
    • Partnership with suppliers We respect our suppliers as our business partners, and adhere to relevant laws in dealing with our suppliers. We do not make inappropriate requests or take retaliatory actions against suppliers by abusing our advantageous position.
    • Personal Information protection for customers and employees We collect, process, and use personal information of our customers and employees for legitimate business purposes with their approval under applicable laws including the Personal Information Protection Act of Korea. We prohibit and prevent the leakage of any such information and adhere to laws, regulations, and internal rules to safeguard personal information.
    • Anti-bribery We do not provide or receive a gift, entertainment, or business courtesy that could be perceived as a bribe to gain business opportunities or convenience from parties concerned including public officials and customers at home and abroad. We abide by anti-bribery laws of countries around the world and corporate bylaws.
    • Meeting standards on quality, environment, and safety We follow laws and regulations of individual countries, international standards, and corporate bylaws on environment and worksite safety, and do our utmost to ensure health and safety of customer and employees.
  3. 3. We discuss potential issues in advance with related departments within the Company including Compliance Team and Legal Team to minimize risks arising from violation of laws in the process of major business projects and contracts.
  4. 4. We immediately report to Compliance Team any violation of laws, regulations, bylaws, or this Code of conduct, or any incident suspected of such violation, upon discovery of the fact.
  5. 5. We actively participate in all corporate compliance activities including employee education, monitoring, on-site inspection, and follow-up measures pertaining to compliance.

Samsung Fire & Marine Code of Conduct Guideline

As part of its endeavor to take full responsibility as a global company and help create a sustainable society, Samsung Fire & Marine Insurance (SFMI) enacted this Code of Conduct guideline which suggests the direction SFMI pursues and specific standards of action that SFMI employees should take

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