Hyundai Steel has obtained ISO 37301 certification, an international standard for compliance management systems, as the steelmaker strengthens its companywide framework for managing legal and regulatory risks.
The company held a certification ceremony Wednesday at its Pangyo office in Seongnam, Gyeonggi Province, attended by Hyundai Steel Vice President Seo Sang-won, head of management support, and Korea Fair Competition Federation Chairman Park Jae-gyu.
During the event, the two sides reviewed the certification process and discussed measures to improve the effectiveness of Hyundai Steel's compliance management system.
ISO 37301, established by the International Organization for Standardization, assesses whether an organization has systems in place to comply with laws and internal rules while identifying, preventing and managing compliance risks.
As part of the certification process, Hyundai Steel analyzed its business environment and stakeholder requirements, assessed potential risks across major operations, and developed measures to address identified areas.
According to the company, Hyundai Steel has operated a range of compliance programs, including employee training, internal inspections, information services and whistleblowing channels. Its Fair Trade Compliance Program has received an "AA" rating for two consecutive years.
Hyundai Steel plans to further develop the framework through regular risk assessments, internal audits, management reviews and improvement measures.
"The certification marks a step forward in aligning our compliance activities with international standards," a Hyundai Steel official said. "We will continue strengthening the management system so that compliance becomes firmly embedded in employees' daily work and decision-making."
yejinlim@heraldcorp.com
