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JW Code of Conduct

JW Pharmaceutical Corporation (“JW”) is implementing responsible and sustainable management for a mission to lead innovation for a better tomorrow and create a healthy and happy daily life for human beings. ​Therefore, JW’s business partners are expected and required to comply with the following social, normative, ethical, human rights, and environmental standards required by customers, society, and regulatory agencies together with JW

1. Human rights

Respect and protection of human rights is the core value that JW pursues to create a healthy and happy daily life for human beings, to guarantee the universal rights that we can enjoy under the Constitution of the Republic of Korea. JW's business partners must ensure that the human rights of their employees and related stakeholders are respected and protected without any infringement or discrimination and must comply with applicable laws and regulations, including international norms on the protection of their human rights.

JW's business partners must not be directly or indirectly involved in human rights violations and must not negatively affect the human rights of third parties due to business execution. In case of any violations, JW's business partners must use best effort to remedy such human rights violation.

2. Anti-corruption and Compliance

JW has established and operated an anti-corruption and compliance management system to practice fair, transparent, and sustainable management. Anti-corruption and compliance management are the cornerstones of maintaining a sound and fair business relationship between JW and its business partners.
JW has established and operated an anti-corruption and compliance management system to practice fair, transparent, and sustainable management. Anti-corruption and compliance management are the cornerstones of maintaining a sound and fair business relationship between JW and its business partners.

1) Anti-corruption

JW does not tolerate any form of corruption, bribery, or improper solicitation. Therefore, any form of money, or valuables, or any unacceptable gift, hospitality, entertainment, or improper solicitation to the executives and employees of JW is not permitted. In addition, the provision of money, gifts, hospitality, entertainment, etc., from business partners to public officials and health care professionals who can directly or indirectly affect JW or transactions is not allowed.

Any requests, proposals, or inducements that may cause corruption in transactions or contracts with JW are not permitted.

JW's business partners are responsible for complying with all applicable local and international legal and regulatory matters concerning anti-corruption and striving for anti-corruption. And they must submit the declaration of compliance required by JW Pharmaceutical.

JW's business partners must engage in anti-corruption activities and continuously implement anti-corruption education for their employees.

2) Fairtrade and win-win cooperation

JW complies with fair trade laws to maintain fair and sound business relationships. JW Pharmaceutical's business partners must also not engage in inaccurate and distorted advertising, cartels, unfair trade practices, unfair subcontracting, etc., that may affect transactions or contracts with JW, and comply with fair trade laws.

JW's business partners are responsible for complying with the code of ethics and participating in and cooperating with JW's win-win management for shared growth that can contribute to positive social development.

3) Information Protection

JW should protect the information of the customer, employee, shareholder, business partner, and JW , including personal information, and continuously strives to protect it and complies with applicable local and international laws and regulations. JW's business partners must also carry out procedures and processes to maintain and protect the security and protection of information generated or acquired in the execution of transactions or agreements and are responsible for complying with applicable local and international laws.

4) Compliance

JW's business partners comply with all applicable local and international laws and regulations in performance of transactions or contracts. JW believes that any business partner in or foreseeing any transaction or contractual relationship will comply with all applicable local and international laws and regulations. And the business partner is responsible for complying with it.

5) Conflict of Interest

JW's business partners must identify situations of actual or potential conflicts of interest in the execution of transactions or contracts and are responsible for fulfilling their duty of care to avoid conflicts of interest with executives and employees of JW.

3. Labour and safety

JW's business partners must strive to ensure that there is no discrimination, unfair treatment, or disadvantages in the health and safety of their employees and work, to maintain safe workplace operation, and balanced life and health of employees.

1) Labour

JW's business partners must operate legally and ethically without discrimination or unfair treatment in the workplace. In addition, JW's business partnerswe must strive to maintain a balanced life and health of our employees so that a more reliable business relationship with JW can continue.

2) Health & Safety

JW's business partners are responsible for operating, inspecting, and improving the safety management system including necessary training, provision of safety equipment, and safety measures to protect their employees from chemical, biological, and physical hazards

3) Working environment

To create a good working environment, JW's business partners must, at a minimum, observe the labor, leave, and wages required by labor-related laws and take management measures to prevent workplace harassment, sexual violence, etc., and provide continuous education.

4. Environment

Environmental protection is the commitment of the present generation to the next generation and is crucial in maintaining the fundamental human quality of life. JW's business partners must comply with all applicable environmental laws and regulations, implement management measures to prevent environmental damage caused by accidents, and make maximum efforts to save resources and reduce carbon emissions for environmental protection.

5. Business Continuity

Execution of business continuity is the cornerstone of realizing lasting business relationships. JW's business partners must have a system in operating and maintaining all operations as safely as possible to respond adequately to emergencies, including possible accidents and disasters.

6. Consumer Protection

JW’s business partners must comply with relevant laws and make efforts to prevent consumer damage from products or services produced or provided. Even if unintended consumer damage occurs, JW's business partners are responsible for participating in efforts to prevent the spread of the damage and remedy the damage.

7. Commitment to Compliance with the Business Partner Code of Conduct

JW expects its business partners to implement the following to comply with this Code of Conduct, and if necessary, JW may check whether they are doing.

1) Commitment

The management of JW's business partners must disseminate it to their employees and, where applicable, stakeholders so that they can comply with the requirements of this Code of Conduct.

2) Establishment and operation of the management system

JW's business partners must establish a viable management system to comply with the requirements of this Code of Conduct and operate them effectively.

3) Awareness and training

JW's business partners must continuously provide the training necessary for their employees to comply with the requirements of this Code of Conduct and ensure that they recognize the need for compliance.

4) Risk Management

JW's business partners identify, analyze, evaluate, and prioritize risks that may incur non-compliance with laws which is required to comply under this Code of Conduct, and must implement management measures to eliminate or reduce risks and conduct regular reviews.

5) Monitoring and improvement

JW's business partners must regularly monitor whether they are implementing appropriately according to the management system and whether their execution is effective and must continuously implement necessary improvements.

6) Raising concerns

JW's business partners must encourage their employees to report concerns at a workplace or suspected violations of laws openly or anonymously and investigate and improve those matters.

8. Sanctions for non-compliance

JW may terminate or cancel the transaction or contract for business partner’s non-compliance with this Code of Conduct, and if applicable, may take legal actions against them. In addition, JW may reject future transactions or conclusions of contracts, or there may be disadvantages. JW expects its business partners to implement the requirements of this Code of Conduct for fairer and more transparent transactions or contracts and ethical behavior.

9. Inquiries/Raise Concerns

JW operates a system to raise questions or reports regarding this Code of Conduct or concerns about violations of the Code of Conduct. JW guarantees the confidentiality and anonymity of all persons who report using this system, and any retaliation is prohibited.

How to raise a concern is as follows.

- JW Pharmaceutical Cyber Report: JW Pharmaceutical (jw-pharma.co.kr)

If a business partner of JW does not comply with this Code of Conduct or if there is any suspicion of a violation, it must immediately report to JW Pharmaceutical. In addition, JW expects the business partners to cooperate fully to investigate concerns raised.