SPC to launch compliance program to improve ethical standards

Chairman Hur Yong-in

South Korean food and beverage giant SPC will introduce a compliance program aimed at fostering a culture of ethical management and improving its public image. The move comes as SPC Group Chairman Hur Yong-in faces trial over allegations related to forcing employees to withdraw from labor unions.

According to industry sources on Thursday, SPC plans to implement an internal control program focused on ethical management guidelines. Specific clauses are currently being fine-tuned to ensure that SPC’s subsidiaries can integrate these guidelines into their daily operations and the initiative will be spearheaded by the company’s Compliance Office, established in 2023.

The compliance program is designed to establish standards that prevent unethical behavior across SPC subsidiaries. The company is expected to set criteria for handling labor relations and workplace safety incidents.

A company representative mentioned that subsidiaries such as Paris Baguette and Samlip will develop their own dedicated systems to align with the new program. SPC plans to officially launch the initiative with a ceremony at the end of September 2024.