Corporate social impact and social responsibility such as ESG and sustainable management are emerging as keywords in corporate management.

Globally, the paradigm shift surrounding companies is being emphasized, such as anti-corruption and fairness, corporate reliability and transparency, environmental protection, information protection, and social responsibility of corporate management.

Alteogen has a compliance management program that complies with all laws and regulations in all areas of the company in 2021 in order to continue to grow as a technologically advanced bio company that innovates and creates while practicing compliance management that observes laws and principles amid a rapid change in corporate paradigm. (Compliance Program: CP) was introduced.

Alteogen is continuously strengthening its compliance management system for compliance management, which is the most basic of corporate social responsibilities.

The management system has been refined and specified based on compliance education so that compliance awareness becomes the basis for all business decision-making processes throughout the company.

This compliance management program is operated to strengthen responsibilities for human rights, corporate ethics, environment, safety and health, etc.

Alteogen will further strengthen its compliance management for sustainable growth and development as an ever-changing and growing biopharmaceutical company

Introduction of CP (Compliance Program, Fair Trade Voluntary Compliance Program)

Definition of CP(Compliance Program)

CP(Compliance Program) is a compliance system and code of conduct that companies operate to voluntarily comply with fair trade-related laws in their economic activities. By doing so, we are establishing a system that can prevent risks in advance in case of violation of fair trade-related laws and standards of conduct.

Significance of CP

Compliance Program, Fair Trade Voluntary Compliance Program refers to a process program established and operated by the company itself.

By presenting clear and specific behavioral standards for voluntary compliance with fair trade, it prevents employees from unintentionally violating the Fair Trade Act, and at the same time relieves anxiety and inability to identify violations which can happen. On July 5, 2001, the Fair Trade Order Voluntary Compliance Committee conducted a CP rating evaluation by presenting seven key elements suggested by the Code of Conduct, which the business community recommended to voluntarily implement. Alteogen provide incentives to companies with Grade A or higher according to its results.

① The CEO’s will and policy for self-compliance

② Manpower and budget support from top management, including appointment of a compliance manager

③ Production and distribution of voluntary compliance manual

④ Implementation of CP education and training

⑤ Operation of pre-monitoring system for self-compliance

⑥ Personnel sanctions and incentive system operation

⑦ Evaluation and improvement of CP operation, etc.

7 Core Components of CP

① Management’s commitment to compliance

② Designation/operation of Compliance Officer

③ Preparation/distribution of Compliance Manual

④ Implementation of educational programs

⑤ Establishment of monitoring system

⑥ Sanctions against employees who violate laws and regulations related to fair trade

⑦ Establishment of document management system

Upon opportunity of the Fair Trade Compliance Declaration Ceremony, the CEO’s intention to voluntarily comply with the Fair Trade Act was expressed internally and externally.