Code of Ethics

Hyundai Motor Group is committed to upholding the spirit of its Ethics Charter, ensuring that it remains a company trusted by the public.

Scope of Application of the Code of Ethics and Code of Conduct

Hyundai Motor Group’s Code of Ethics and Code of Conduct apply to all affiliates, including domestic and overseas production and sales entities, subsidiaries, sub-subsidiaries, and joint ventures. Employees must comply with these standards in their relationships with suppliers, as well as sales and service organizations, and are encouraged to promote adherence to ethical standards among all stakeholders engaged in business relationships.
All applicable organizations and employees must prioritize compliance with the laws and regulations of the relevant country while performing their duties in accordance with the Code of Ethics and Code of Conduct. In cases where local laws and the Code conflict, local laws shall take precedence. Where necessary, the Code may be revised or supplemented with additional policies to reflect local legal requirements and industry characteristics. However, any organization seeking to newly adopt this Code of Ethics and Code of Conduct must obtain prior approval from Hyundai Motor Group.

Hyundai Motor Group’s Five Ethics Charter Principles

01
We perform our duties according to clear and transparent standards, fulfilling our responsibilities with integrity and the utmost effort.
02
We compete fairly in the market and conduct honest transactions with all contractual partners.
03
We provide safe products, excellent services, and accurate information to realize customer value, while strictly protecting personal data.
04
We respect each employee as an independent individual, providing fair working conditions and a safe work environment.
05
As a responsible global corporate citizen, we contribute to sustainable development, enabling diverse stakeholders to prosper together.

Code of Conduct

1. Employee Ethics

We perform our duties based on clear and transparent standards and fulfill our responsibilities with integrity and to the best of our ability.

Bribery

We do not solicit, accept, provide, or promise any illegal or unethical benefits or bribes¹, whether monetary or non-monetary, to or from stakeholders.

Improper Solicitation

Improper solicitation between employees and stakeholders or among employees is prohibited.

Conflict of Interest

Where a conflict of interest between the company and an individual is unavoidable, we act in the best interests of the company and its customers in compliance with applicable laws and regulations.

Insider Trading

Confidential information², knowledge, and data obtained directly or indirectly through the performance of duties must not be disclosed or used for personal gain.

Workplace Ethics

Employees shall act responsibly while performing company duties, regardless of time or location, and use the company’s assets and facilities solely for business purposes.

Abuse of Authority

We do not abuse our authority or position to exert improper influence or pursue illegal gains for the company or for individuals.

Document Preparation and Reporting

We do not prepare, report, or share with internal or external stakeholders any documents containing manipulated information, including concealed, omitted, exaggerated, or falsified content.

1.Bribery refers to any form of benefit provided or received for the purpose of obtaining monetary or non-monetary advantage, including money, services, entertainment, gifts, donations, sponsorships, or any other forms of preferential treatment or convenience.
2.Insider trading commonly involves the use of confidential company information, business or organizational information (such as M&A or stock price-sensitive data), or internal decision-making matters.

2. Fair Competition and Transactions

We compete fairly and ethically in the marketplace and engage in fair transactions with our contractual partners.

Antitrust

We do not engage in practices that may undermine fair competition, such as abusing a dominant market position or taking unfair advantage of a superior bargaining position.

Collusion

We do not enter into agreements with other businesses to unfairly restrict competition with respect to prices, supply volumes, markets, or transaction terms of goods or services.

Unfair Competition

We do not obtain information from competitors, business partners, or other organizations through improper means, nor do we use or disclose information improperly obtained by the company or third parties.

Money Laundering

We do not engage in activities related to money laundering involving customers, partners, suppliers, other organizations, or individuals.

Intellectual Property Rights

We protect the trade secrets of business partners under contractual relationships and do not infringe upon the intellectual property rights of other companies or individuals.

Tax

We comply with the tax laws of each country in which we operate and do not evade legitimate tax obligations in order to ensure transparent and fair tax practices.

Procurement

We pursue mutually beneficial and fair relationships with suppliers and do not engage in unfair trade practices.

3. Delivering Customer Value

We provide safe products, the highest quality services, accurate information, and thorough protection of personal information in order to deliver customer value.

Customer Safety

We do not make decisions that compromise customer safety at any stage of research and development, raw material procurement, production, sales and distribution, or after-sales service.

Quality

We do not engage in any conduct that may undermine the quality standards necessary to consistently provide customers with the highest quality products and services.

Disclosure of Accurate Information

We provide customers with accurate and useful information regarding products and services to support informed decision-making and do not provide false or exaggerated information.

Protection of Personal Information

We comply with applicable laws and regulations to protect customers’ personal information and do not engage in any conduct that may unlawfully misuse or infringe upon customers’ personal information.

Customer Feedback

We listen carefully to customer feedback regarding products and services and actively respond to customers’ legitimate requests and reasonable suggestions.

Customer Accessibility

We take necessary measures to ensure that no customer is unfairly restricted from using products or services on the basis of gender, age, disability, language, or other factors.

Product Liability

We proactively provide necessary information and responsibly implement measures to ensure the safety and quality of products and services in order to prevent customer harm and risk.

4. Respect for Employees

We respect each employee as an independent individual and provide fair working conditions and a safe working environment to support this commitment.

Human Rights

We respect each employee as an individual and take proactive measures to protect universally recognized human rights.

Child Labor and Forced Labor

We comply with the labor laws of the countries in which we operate and prohibit child labor and forced labor in the workplace.

Discrimination

We do not discriminate against employees on the basis of nationality, region of origin, race, gender, age, culture, religion, disability, educational background, political orientation, personal preferences, or any other characteristic.

Equal Opportunity

We provide employees with equal opportunities for education and professional growth based on their abilities and qualifications and evaluate and reward performance fairly.

Workplace Harassment

We prohibit all online and offline conduct that insults an individual’s character or undermines human dignity, including verbal or physical violence, sexual harassment, bullying, and intimidation.

Safety and Health

We proactively take necessary measures to ensure employee safety and maintain a safe working environment free from occupational accidents, disasters, diseases, and infectious illnesses.

Work-Life Balance

We strive to provide a work environment that supports a healthy balance between employees’ work and personal lives.

5. Pursuit of Sustainability

As a global corporate citizen, we contribute to sustainable development in which diverse stakeholders can prosper together through the fulfillment of our social responsibilities.

Sustainable Development

In our management decision-making processes, we fulfill our responsibility to contribute to the achievement of the Sustainable Development Goals (SDGs) aimed at addressing the environmental and social challenges facing humanity.

Environment

We recognize that the environment is a valuable resource that must be preserved for future generations and actively fulfill our responsibility to minimize negative environmental impacts across all areas of our business operations.

Social Contribution

We actively identify social issues facing our society and humanity as a whole and seek effective solutions to address them.

Stakeholder Engagement

We identify stakeholders who may affect or be affected by the company’s management activities and actively communicate and engage with them on material sustainability issues.

Donations and Sponsorships

We conduct charitable donations and sponsorships fairly in accordance with internal standards and procedures, and prohibit political donations and sponsorships.

Shareholder Value

We pursue the enhancement of corporate and shareholder value through sustainable business management.

Disclosure of Information

Financial and non-financial information is disclosed in a timely manner in accordance with applicable laws and regulations.

Appendices

1. References

This Code of Ethics and Code of Conduct is based on the principles and values set forth in various international human rights standards and applicable laws and regulations and has been established based on the following declarations and conventions.

① Universal Declaration of Human Rights, UN General Assembly, 1948.
② The Ten Principles of the UN Global Compact, UN Global Compact
③ International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, ILO (1998).
④ Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, OECD (2019).
⑤ United Nations Convention Against Corruption, UN General Assembly (2013).
⑥ Paris Agreement, UNFCCC (2015).
⑦ The OECD Guidelines for Multinational Enterprises, OECD (2011).
⑧ Global Automotive Sustainability Practical Guidance, Drive Sustainability (2017).
⑨ Guiding Principles on Business and Human Rights, UNGC (2011).
⑩ Guidance on social responsibility, ISO (2010).
⑪ UN SDGs (https://sustainabledevelopment.un.org/)
⑫ CDP (https://www.cdp.net/en)

Ethical Conduct e-Book

Hyundai Motor Group provides its employees with a Code of Ethical Conduct to guide their ethical and moral decision-making.
The Code of Ethical Conduct emphasizes the importance of ethical management, workplace ethics, gift management policies, and ethics for sports teams, while also providing detailed guidelines on employee conduct.

Ethical Management Operating System

Hyundai Motor Group operates a systematic four-step compliance framework to implement ethical management practices.

1. Prevention: Ethics training(regular and ongoing programs), Ethics Pledge
2. Detection: Reporting channels(internal and external), Continuous monitoring
3. Inspection: Regular and ongoing audits
4. Action: Personnel actions, including disciplinary measures, Corrective actions, including training and process improvements->Feedback is used to strengthen preventive measures.