Ethical management, the basis for continuous growth and development
SK innovation is dedicated to being a trusted company that creates value for our diverse stakeholders and to help create a better world based on SKMS as its management philosophy.
Based on SKMS, SK innovation aspires to play a key role in the socio-economic development and to ultimately
contribute to the happiness of humanity by creating values of various stakeholders such as customers, members, shareholders and society.
To do this, SK innovation has established Code of Ethics as a criteria for proper behavior and value judgement that employees must follow,
and shared Code of Ethics guideline to present practical guidelines with detailed principles in decision-making.
Criteria for decision-making and action regarding all management activities.
As Members of the Company, we take pride in ourselves and diligently perform our duties in our position with an understanding that we are representing the Company.
We continuously satisfy our customers to gain trust from them, and ultimately progress along with our customers.
We promote both transparent and efficient management so that we can increase our corporate value so as to create shareholder value.
We not only contribute to the economic development but also grow together with our society by engaging in social activities that create social values.
SK innovation Co., Ltd., SK energy Co., Ltd, SK geo centric Co., Ltd., SK lubricants Co., Ltd., SK incheon petrochem Co., Ltd., SK trading international Co., Ltd. and SK ie technology Co., Ltd. (hereinafter “the Company”), basing on SKMS as the foundation for their business management, shall create value for the Company’s customers, members, shareholders, the society, and other various interested parties, thereby playing a major role in the social and economic development and, furthermore, contributing to the well-being of all humans.
To this end, the Code of Ethics (hereinafter this“Code”) has been established to serve as the criteria for all decision-making and actions in business management.
|Code of Ethics|
provide the criteria for decision making and action regarding ethical dilemmas.
|Code of Ethics Guidelines|
SK innovation runs various channels to allow members, partners and other stakeholders to ask for counsel and disclose possible
wrongdoing freely. Also the source of the disclosure is strictly kept confidential.
|SK innovation Ethics Counseling and Report Handling Procedures Download|
SK innovation’s Internal Audit Office aims to provide independent and objective assurance and
advisory services(internal audit) that can add value to and improve the operations of SK innovation.
The Internal Audit Office manages the list of all management activities of SKI-affiliated businesses, functions, and companies,
including overseas subsidiaries/branches which could be potentially subjected to audit.
This list is annually updated with the change in business environment.
The Internal Audit Office establishes annual audit plan through risk assessment in consideration of various factors such as audit resources
and audit cycle, and finalizes annual audit plan through Audit Committee’s approval.
The Internal Audit Office conducts regular audits every year based on the annual audit plan and evaluates the efficiency,
effectiveness, and adequacy of internal control of the company's business activities, in order to derive recommendations
and action plans established by organizations aiming for continuous improvement and mitigation of risks.
The Internal Audit Office also operates the ethics counseling & reporting channel and receives reports from
various stakeholders such as employees and business partners via on-line, e-mail, telephone, and Kakao Talk reporting channels.
Subsequently, the Internal Audit Office conducts fact verification to determine whether there is a violation of ethical standards.
The Internal Audit Office independently reports planned audit and investigation results directly to the Audit Committee.
and conducts follow-up audits annually to track the implementation of audit recommendations.
The company actively supports participation in various trainings and acquisition of professional certifications
in order to continuously strengthen the capacity of the internal audit organization.
With the establishment of BOD-driven management system on June 2021,
SK innovation readjusted Audit Committee’s role as a corporate compliance and business risk control tower.
For effective operation of the Audit Committee, SKI Internal Audit Office is now placed under the Audit Committee and the BOD manages
and supervises audit function directly. To reinforce the independence of the Internal Audit Office,
the Audit Committee retains the right to appoint and dismiss the chief of the audit office.
Likewise, SK innovation is committed to enhancing corporate value by conducting internal audits through the Audit Committee and internal audit office.
Corporate management through free and fair competition
SK Innovation has been introducing and operating the 'Antitrust and Competition Compliance Program (CP)' since 1996 to enhance transparency in transactions and to take the lead in establishing a free and fair economic standard.
We established practical and circumstantial guidelines for 8 major elements of antitrust and competition compliance program(CP) to provide effective training and education for all employees to prevent possible violations of the antitrust and competition law.
8 Major Elements of Antitrust and Competition Compliance Program
Antitrust and Competition Compliance Principles of SK Innovation for stakeholders
SK Innovation considers maximizing the happiness of stakeholders as the main value of corporate management,
and emphasizes open communication and win-win relationship with stakeholders.
We actively commit to maintain fair and transparent relationships with various stakeholders including customers, sales and partner companies.
SK Innovation strictly complies with the antitrust and competition laws and regulations in selling products produced and sold by our company to customers. We do our best to promote our customers' rights and interests by setting the price fairly, and/or by preventing unfair indications or advertisements when running product advertising and corporate promoting activities.
SK Innovation is giving best efforts to build a sound business ecosystem and create a fair competitive field. We continue to strengthen win-win cooperation by giving fair trading opportunities to sales and partner companies, banning unfair trade practices such as abuse of trading status, and pursuing mutual benefits and cooperative development.