Kia Motors began sustainability management based on the pressing need for accountability for the environment, now and in the future. In the past, the need for a more convenient mode of transportation was the primary focus that shaped the automobile industry. However, recent trends reveal the need for eco-friendly alternatives. In the 21st century, expectations have changed and demand from the automotive industry to develop vehicles that maximize convenience while minimizing their environmental impact is rising. All companies, regardless of the industry, must exercise responsibility in generating profit and fairly distributing revenue while keeping stakeholder interests in mind.
In 2001, Kia Motors announced the Code of Ethics and enacted the Regulation of Workplace Ethics to become a business trusted by society. We run an employee cyber corporate ethics program for heightened ethical awareness. In 2002, Kia Motors adopted the Korea Fair Trade Commission’s Compliance Program (CP) and set up the Cyber Audit Office to ensure the proper implementation and oversight of our ethical management practices.
Board of Directors and its Committees
Ethics Committee : The purpose of the Ethics Committee is to evaluate the transparency of internal transactions and the company’s progress in ethical management. As such, it is stipulated that the Ethics Committee consist solely of outside directors. It is currently composed of five outside directors. The Ethics Committee assesses the transactions between affiliated persons as stipulated by the Monopoly Regulations and Fair Trade Law (FTL) and the Capital Market and Financial Investment Business Act (CMFA). It also monitors Kia Motors’ program for voluntary compliance with fair trade regulations, major policies related to ethical management and social outreach programs, and the enactment, revision and implementation of ethics codes and regulations.