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Hanwha Defense obtains certification for compliance management system

2021.11.11

Hanwha Defense obtains certificate for compliance management system 

 

- Hanwha Defense is the 1st defense company in South Korea to be awarded ISO 37301,

the highest international standard for compliance management

- Hanwha Defense demonstrates its strong commitment to ensuring

compliance best practices toward achieving sustainable growth



November 11, 2021 _ Hanwha Defense has been awarded the ISO 37301 certification in recognition of its successful efforts to achieve high standards of compliance and integrity.


This is the first time that a defense company in South Korea has received the highest international standard for compliance management adopted by the international rule-setting body in April 2021.


The new standard combines ISO standards with international agencies’ guidelines, including those from the International Chamber of Commerce, the OECD’s best practice guidelines for ethics and compliance, and the UN Convention against Corruption.


A leading defense company affiliated with Hanwha Group, the seventh largest conglomerate in South Korea, Hanwha Defense has run a number of outstanding programs related to workplace ethics and compliance. Among those programs are the compliance index evaluations for management, regular quiz events for self-evaluation of ethics and compliance, and the compliance week.


Certified by British Lloyd Register, ISO 37301 has proved Hanwha Defense adheres to global standards of compliance and business ethics enough to identify and prevent any compliance risks in an effective manner.


In particular, the certification represents Hanwha Defense’s high level of integrity and credibility in pursuing defense businesses with global customers, which will help raise the company’s competitiveness in the international defense market.


“The ISO 37301 certification is the result of Hanwha Defense’s strenuous efforts to strengthen its compliance programs meeting the global standards for the past years, and now we’ve proved Hanwha Defense has the highest level of compliance management systems and procedures,” said Son Jae-il, President & CEO of Hanwha Defense. “Looking further, we will take more active measures to ingrain compliance into the work culture more fundamentally to be positioned as a global defense firm gaining customer trust and confidence.”


The ISO 37301 certification and awarding ceremony was held at Hanwha Defense headquarters in Seoul on Nov. 10, with the attendance of CEO Son; Executive Vice President Kim Heung-seok of Compliance & Legal Affairs Office at Hanwha Defense; Lee Il-hyeong, Korea development manager of Lloyd Register; and David Clough, first secretary for defense & security in the British Embassy in Seoul.

 

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