Our company was certified as a ‘internal compliance program holder’ by the Ministry of Trade, Industry and Energy in November 2007. Since then, we have continued to carry out self-compliance activities for export goods. As a result, we acquired the AAA rating, the highest level of compliance trading traders in April 2014, and have strictly followed the international norms of strategic items through the proper implementation of and compliance with the principles of internal compliance program.
In order to be a strong competitor in the global market, it is necessary not only to maintain competitiveness in product technology, quality and price but also to adhere to the various norms required for companies in diverse areas such as security, safety and environment. In particular, the export control of strategic goods is a core requirement to be met by exporting companies as it is an international mandate with critical influence directly linked to the survival of the companies. In recent years, the importance of the establishment and implementation of companies' internal compliance program has been emphasized even more strongly in the international community. As a manufacturer and exporter of strategic items, it is absolutely essential that our company set up and faithfully apply autonomous legitimate export control procedures to our strategic items.
If the export of our strategic goods is not properly managed, our export trade of strategic goods runs the risk of being severely restrained on the grounds of a violation of international norms. In such a case, not only the company but also the person in charge of the business may be subject to legal punishment. In order not to suffer such disadvantages, all Doosan employees need to pay keen attention to and actively participate in the ICP of the export of strategic items.
To ensure that we can export our strategic items in a safe and legitimate way while protecting the interests of both the company and its employees, we would like to request all Doosan employees not only to comply with the laws and regulations related to strategic items, including the Foreign Trade Act, but also to implement the company's voluntary strategic items export management on the basis of the following principles for the purposes of enhancing the company's credibility and promoting its sustainable management in the future.
First, all our executives and employees shall remain keenly aware that complying with export control of strategic items is critical to the fulfillment of our corporate responsibility for the promotion of international security and world peace.
Second, we shall actively strive to establish the necessary organizations and systems within the company as required in order to manage our internal compliance program.
Third, we shall actively cooperate with the government's policy on export control of strategic items and do our utmost to prevent the occurrence of any illegal activities including the illegal export of strategic items.
Lastly, I would like to ask you to bear in mind that the export control of strategic items is an international trade order that the company must fulfill under all circumstances without exception in order to grow into a global corporation.
February 1, 2017
Doosan Heavy Industries & Construction