Husteel views corporate governance as a key issue in today’s rapidly changing business environment. We strive to increase management efficiency, accelerate and improve decision-making processes, and ensure management transparency.

In addition, we manage our business operations with the focus on risk management and compliance. More particularly, we have set out the basic points for risk management in our Risk Management Regulations. Further, the Risk Management Committee, chaired by the president, discusses management of projected upcoming and latent risks within the Group, and responds to requests for advice by the Company’s boards of executive officers and directors.

The Company also appoints an executive officer in charge of risk management and compliance who is responsible for the company-wide supervision of risk management and compliance. The Company has also established a Compliance Committee as a substructure under the Risk Management Committee. Husteel maintains a hot line for consultation and reporting by employees regarding compliance with the officer, division and external lawyers in charge of risk management and compliance. Husteel has established a Husteel Corporate Code of Ethics and Husteel Code of Conduct, and works to disseminate them to all employees and Group companies. Furthermore, in preparation in the event of a serious accident, the Company has established regulations for emergency countermeasures in the event of a serious accident for the purpose of promptly sharing relevant information among persons concerned, taking countermeasures speedily and smoothly, and minimizing the impact on business operations, and disseminates them to all employees and Group companies.

Moreover, in order to ensure reliability of its financial reporting, in its Internal Control Regulations Husteel prescribes basic points for the establishment and operation of the system in the Company and Group companies in accordance with the Financial Instrument and Exchange Act, established an Internal Control Committee. Going forward, we will also focus on reinforcing a risk management system for the entire Group.

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