MYOUNG SHIN INDUSTRY

Chapter 1 : General Provisions

Article 1 (Purpose)

This Regulation aims to ensure that all executives and employees comply with ethical management by prescribing matters concerning the composition and operation of ethical management, and ultimately to promote corporate social contribution activities through sound corporate cultural activities.

Article 2 (Scope of Application)

All executives and employees of Myoungshin Industrial Co., Ltd. shall comply with these regulations, except as otherwise provided for in laws, articles of incorporation, or other regulations regarding ethical management.

Chapter 2 : Organization

Article 3 (Ethical Management Committee)　

3.1 In order to systematically manage ethical management, the Ethical Management Committee (hereinafter referred to as the "Committee") is established as the highest decision-making body.

3.2 The Committee consists of no more than 8 members including one Chairperson. However, if necessary, the Ethics Management Committee may be replaced by the Human Resources Committee.

3.3 The Committee Chairperson shall be the CEO, and the team in charge of the ethical management committee shall be the management team.

3.4 The Chairperson may appoint additional members if it is deemed necessary for the efficient promotion of the committee's work.

Article 4 (Operation Principles)

4.1 The Ethics Management Committee shall not be interfered with by any individual, organization or organization in relation to the performance of its duties.

4.2 The Ethics Management Committee shall not represent the interests of various stakeholders, such as management, employees, and shareholders, but shall be operated fairly to enhance the reliability of the company and create a good company.

4.3 The Ethics Management Committee shall guarantee the confidentiality of the identity of informants and whistleblowers in ethical management matters. In addition, the informants and whistleblowers shall not be subjected to any disadvantage due to the report or accusation of ethical management issues.

4.4 All executives and employees of the company must actively cooperate with the ethical management committee in carrying out its duties.　

Article 5 (Chairman)

5.1 The chairperson represents the committee and oversees ethical management.

5.2 In the absence of the Chairperson, a vice member of the committee shall act on his/her behalf.

Article 6 (Operation)

6.1 The committee meets once a year.

6.2 In the event of important issues related to the performance of the Committee's functions, the Chairperson may convene an extraordinary meeting.　

Article 7 (Meeting)

7.1 Meetings of the Ethics Management Committee are convened and chaired by the Chairperson.

7.2 Among the members of the Ethics Management Committee, any member who has an interest in any of the following subparagraphs shall not participate in the deliberation and resolution of the case. Whether there is an interest or not is decided by the Ethics Management Committee.

　1) When a member of the Ethics Management Committee is or was in a kinship relationship with a party to the case

　 2) When a member of the Ethics Management Committee has testimony or interest in the case

　3) Where a party to the relevant case files an application for challenge on the grounds that it is difficult to expect a fair deliberation and resolution from a member of the Ethics Management Committee, in such cases, whether to challenge the relevant case shall be resolved by the Ethics Management Committee.

　4) When a member of the Ethics Management Committee related to ethical matters applies for evasion

7.3 The Chairperson must notify the convening of the meeting 3 days prior to the date of the meeting. However, in case of urgency, the period may be shortened.

Article 8 (Resolution)

8.1 The Ethics Management Committee deliberates and decides on the items falling under each of the following subparagraphs 1).

　 1) Establishment and implementation of an ethical management action plan

　 2) Interpretation and answers to questions related to the practice of the Code of Ethics and detailed guidelines

　 3) Reporting, receiving and handling violations of the Code of Ethics

　 4) Ethical management education and promotion

　 5) Ethical management excellent team and employee reward

　 6) Creation and management of environment for ethical management practice of partner companies

　 7) Other matters deemed necessary to establish a proper corporate culture and ethical management

8.2 The Committee decides with the attendance of 2/3 or more of the enrolled members and the consent of a majority of the members present.

8.3 The Chairperson may decide in writing for matters that are deemed to be particularly minor or that require urgency.

Article 9 (Hearing Opinions)

9.1 The Chairperson may, if necessary, have the parties or related persons present on the agenda for deliberation to hear their opinions.

Article 10 (Minutes of Meeting)

10.1 The minutes of meetings and resolutions of the Ethics Management Committee shall be prepared by the team in charge of Ethics Management.

10.2 The Ethics Management Team may notify the result of the meeting immediately after the meeting.

Chapter 3 : Whistleblower Protection Principles

Article 11 (Inquiry and Complaint System)

11.1 The Ethics Management Committee shall have a system to answer questions related to ethical management through a wired/wireless system and shall be equipped with a proper system for executives and employees who are forced or aware of unethical behavior to report, inform, or file such internal complaints.

11.2 Matters received pursuant to separate regulations may be processed, and the results of the process may be notified or notified directly to the ethics management team or the relevant person through a meeting of the Ethics Management Committee.

11.3 In principle, the received matters shall be answered immediately, and if an investigation on objective facts is necessary, the results thereof shall be replied after the investigation. The necessary procedures shall be governed by personnel regulations, etcc.

11.4 In principle, if the matter reported to the Ethics Management Team or whistle-blowered contents fall under the violation of our ethical management, it will be referred to the Ethics Management Committee for handling. However, if it is necessary to establish and interpret standards for ethical management in the process, report it to the Human Resources Committee.

Article 12 (Protection Entity)

12.1 The Ethics Management Committee shall protect executives and all employees when reporting or whistle-blowing about the fact or conduct that is in conflict with ethical management.

12.2 The Ethics Management Committee shall take all possible measures, such as limiting access rights to informants, whistleblowers and reporters regarding ethical management issues.

Article 13 (Obligation for Whistleblowing)

13.1 When the company's executives and employees are offered access to or related to ethical conflicts by the company's internal team and fellow employees, they shall inform and consult the Ethics Management Teams.

Article 14 (Protection of Informants and Whistleblowers)

14.1 The Ethics Management Committee shall treat informants and whistleblowers anonymously in handling reports and whistleblowing cases.

14.2 If necessary, it should not be disclosed even after the case has been closed.

14.3 The Ethics Management Committee shall take all measures and efforts to prevent the informants and whistleblower from receiving any disadvantages thereafter.

Article 15 (Liability of Proof and Exemption)

15.1 In the case of inquiring in connection with ethical management, being forced to engage in unethical practices or witnessing such unethical practices, a person who reports or makes an internal complaint of the relevant information shall use his/her real name.

15.2 If the allegations of the informants and whistleblowers are not specifically substantiated, the responsibility lies with the informants and the whistleblowers who first raise the allegations.

15.3 In the event that an executive or employee of the company directly reports to the Ethics Management Committee of their own unlawful conduct that violates the ethical regulations, the Ethics Management Committee may review the reduction in the level of punishment or disciplinary action for the act concerned.

15.4 All employees of the company may refuse if they are forced to act in violation of the Code of Ethics by the supervisor or executive of the team to which they belong. In this case, all employees of the company will not receive any disadvantages even if they refuse to follow such unethical behaviors. An employee who has suffered a disadvantage as a result may request correction and protection from the Ethics Management Committee.

Chapter 4 : Obligation to comply

Article 16 (Obligation to comply)

The ethics management chairperson may require all executives and employees to submit an ethical management pledge in order to secure management transparency and create a sound corporate culture.

Article 17 (Additional Provisions)

This regulation is effective from December 30, 2017.

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