Ethical management, clue to ending unfair trade practices

Executive Council for Sustainability Management & ABC, Corporate Ethics School

With an express social attention is being drawn to ethical management today, FKI held the first executive council meeting of the year for sustainability management at 63City on May 28, and announced five-point ethical guidelines on the treatment of business partners. To stave off unfair trade practices like the one that has occurred in Korea recently, the Federation opened a course on ethics called 'The Academy for Better Company(ABC)', or a school for corporate ethics, to 200 working-level officials from major companies.

The participants of the course shared the importance of ethical management, and affirmed their will to realize it. In his opening address, FKI Secretary General Chan Ho Park said, "Recent unexpected incidents have made corporate efforts teeter on the brink of being futile. We need to fortify the will of the business community for ethical management through discussions at the upcoming council meetings." 

At the same time, the Federation made public a campaign, "Joining Forces," to abide by the new ethical guidelines. With shared growth and collaboration between large and small companies being the focus of concern today, the business community itself reaffirmed its commitment to a strong ethical relationship with suppliers.

In a keynote speech, Sang Sik Kim, head of planning and coordination at the Anti-Corruption and Civil Rights Commission(ACRC), explained a need for ethical management and issues, encouraging the corporate executives attending the meeting. Among the attendees were Vice President Byung Yong Choi of Sinsegye Department, and 30 other members of the council and business representatives. 

The council will meet regularly and work on specific plans for ethical management. FKI plans to offer two more courses dubbed 'The Academy for Better Company(ABC)" in Seoul and Busan this year.