(1)'Ethics' refers to the principles that distinguish right from wrong and good from evil, serving as a value system that people must adhere to and uphold in their behavior.
(2)We comply with all relevant laws and uphold ethical standards shaped by societal norms in all our operations.
(3)As a responsible corporate citizen, the company adheres to laws, rules, and regulations, and our members actively cooperate with these principles.
(4)The company operates based on merit, respects market order, and strives for fair transactions.
(5)We conduct our business rationally and legally to achieve the company's legitimate interests.
(6)We do not use information, networks, or positions obtained within the company for personal gain.
(7)As members of the company, we have the obligation and right to protect and legally use all company assets.
(8)We absolutely do not engage in any discriminatory acts or violent behavior, including verbal violence. In the event of any related issues, the company will judge from the victim's perspective and will not accept the perpetrator's excuses such as 'jokes', 'pranks', or 'mistakes'.
(9)We do not accept or demand money, entertainment, or favors from interested parties.
(10)The company, pursuing a healthy bio-business, strictly adheres to bioethics. The R&D team reviews bioethics before developing technology, and the marketing team reviews it before developing products.
(11)By signing the 'Ethics Pledge', we commit to understanding and adhering to the company's ethical guidelines.
(12)The company conducts regular ethical management training and makes efforts such as establishing an 'Ethical Management Committee' to ensure members adhere to ethical standards.
(13)The Ethical Management Committee consists of at least four company executives, including the CEO and CTO, and at least three compliance officers, overseeing and supervising the overall ethical management. However, the formation of the committee can be deferred until the company reaches a medium-sized enterprise level.
(14)The fundamental principles we must adhere to are detailed in the 'Genecast Code of Ethics'
The company aims to be a good "corporate citizen." All members must always comply with all applicable laws, rules, and regulations in their business conduct. Additionally, we are responsible for adhering to the terms of contracts made with other parties. The excuse of "common practice" or "not illegal" will not be accepted as justification for violating this code. If anyone suspects or becomes aware of violations of laws, rules, regulations, or contractual obligations, they must report it immediately to their direct supervisor or the Ethics Committee (or management before the committee is formed)
To prevent conflicts of interest, we must avoid relationships that could impair our judgment regarding company matters. This includes acting through friends or family. Conflicts of interest can arise in many ways, such as personal financial interests, obligations to other entities, or desires to help friends or relatives. To clarify this, the company's policy on the most common types of conflicts of interest is specified as follows. If avoiding a conflict is impossible, employees must disclose the situation in writing to their direct supervisor or the Ethics Committee (or management before the committee is formed).
We do not work for or receive remuneration for services from partners, competitors, or customers without separate approval. Additionally, we do not serve on the boards of other companies or government agencies without prior approval from the company. Even if such approval is granted, appropriate measures must be taken to clearly distinguish between company work and non-company work.
We do not seek financial gain through investments in partners, competitors, or customer companies that directly or indirectly affect the company. If there is any doubt about the legality of a planned investment, it should be discussed with a direct supervisor or management first.
We do not perform tasks for other companies or organizations unrelated to the company’s interests during work hours or during paid leave granted by the company. Additionally, we must not misuse company assets (including machinery, telephones, materials, supplies, and proprietary information) for non-company work.
We do not accept any gifts from various stakeholders, including partners, competitors, and customers. This also applies to our families. We must inform all stakeholders about the company's policy on accepting gifts. If a gift that may cause a conflict of interest is received, it must be provided to the Ethics Committee (or management, if the committee is not yet formed). The Ethics Committee should donate the item directly to a charity or non-profit organization or dispose of it through an internal auction process, with proceeds donated. Additionally, we must not accept meals, entertainment, or other hospitality if it is deemed to influence our work. We also must not solicit gifts, rewards, or business favors for the benefit of our family or friends.
The company must not infringe on personal life, except in cases where conflicts of interest arise due to relationships with family or friends. Employees cannot be in positions where they evaluate the work or influence the compensation of their family members working at the company. If a family member or friend is engaged in a business providing goods or services to the company, the employee must not engage in any activities that could influence the transaction negotiation.
The company encourages members to actively participate in community service, educational activities, religious activities, as well as political and social activities in their respective communities. However, when promoting such activities or expressing related views, it must be clearly stated that these are personal opinions and not expressed as a member of the company. Conflicts of interest may arise during community participation, for example, if the community negotiates with the company regarding goods or services. In such cases, one must not influence negotiations between the community and the company. Additionally, individuals are prohibited from representing the company in political advocacy or contributions. Any act that could be seen as lobbying political groups or officials on behalf of the company is prohibited without explicit approval.
We do not use information, networks, or business opportunities obtained through our duties for personal or third-party gain without the company's consent. This means we do not compete with the company. We must prioritize the company's legitimate interests over personal gain.
During the performance of our duties, we may become aware of non-public information about the company or other companies. Using such non-public "insider" information for securities trading purposes is strictly prohibited. Not only is this unethical, but it is also illegal, and the employee involved may be subject to civil and criminal liability.
Information is a valuable asset of the company. We have a duty to securely protect confidential and proprietary information concerning the company, as well as information entrusted to the company by its customers and partners. Generally, confidential and proprietary information refers to information that enables the company to gain a business advantage over competitors or would cause harm to the company if improperly disclosed. If there is uncertainty regarding whether specific information should be treated as confidential or proprietary, it should be referred to a direct supervisor or management. We must always be aware of the obligation to protect confidential and proprietary information. For example, discussions about confidential or proprietary information must not take place in public places. Confidential or proprietary information must not be disclosed to third parties under any circumstances unless legally required. The duty to preserve the confidentiality of such information is not limited to the duration of one's employment and continues even after leaving the company.
We commit to fair and honest dealings with customers, suppliers, competitors, and fellow employees.
Conducting honest and fair business with customers means engaging with them through products and services based on the company’s capabilities. We must not use false information or manipulate information to make it appear as though the company’s products and services meet customer requirements when they do not. Employees responsible for sending invoices to customers must accurately reflect the conditions of the purchased products or services. We do not provide any benefits or compensation to customers that violate applicable laws, business practices, or company policies. However, reasonable business entertainment, such as traditional marketing, promotions, and events, is permitted.
Conducting honest and fair business with business partners means that employees responsible for purchasing or leasing products or services for the company perform their duties objectively. The company bases its decisions to engage in business relationships with partners on the quality, price, and after-sales service of their products or services. We must not receive or solicit any monetary gifts or conveniences from business partners that could compromise these decisions.
회The company’s policy is to compete solely on the value of its products and services. We do not use illegal or unethical methods to collect competitive information. This includes the misappropriation of proprietary information, trading of confidential information, or inducing other companies' employees to make false statements or disclose confidential information. We must handle information about competitors carefully and prudently. Such information should only be provided to employees who need to know it legally and in appropriate circumstances.
The company values its employees as its most important resource. The company is committed to evaluating each employee’s contributions, respecting all employees, and providing fair treatment. This includes maintaining the confidentiality of employment records, prohibiting unreasonable invasion of employee privacy, and supporting each employee in pursuing their goals at the workplace.
For the company to achieve success, all members must appropriately allocate and use the company's assets. To this end, company assets include not only funds but also machinery, equipment, supplies, tools, inventory, computer systems, software, data, vehicles, records or reports, confidential information, intellectual property, other sensitive information or materials, phones, text messages, messengers, and emails. We have an obligation to protect the company's assets and ensure their effective use. Company assets should be utilized solely for business purposes. Any use of company assets or services not intended for the company's benefit requires management approval. In accordance with transparent and accurate bookkeeping and record-keeping laws, the company must accurately and fairly reflect transactions or dispositions of company assets in its books and records. Employees across all business sectors violating this policy by inaccurately maintaining company books and records may be engaging in illegal activities. We do not create falsified or misleading records. We must fully cooperate with the company's internal and external auditors. Specifically, the following requirements must be strictly observed.
Access to company assets is permitted only with general or specific authorization from management, and transactions must be conducted in accordance with such authorizations. Transactions involving the company must be recorded to ensure the financial statements are prepared and the accounting of company assets is maintained according to generally accepted accounting principles and related requirements.
All company records must be truthful and complete. False entries or misleading representations are strictly prohibited. Additionally, the company does not maintain undisclosed liabilities or unrecorded bank accounts or assets for any purpose.
The company does not authorize payments if it is known that the funds will be used for purposes other than those stated in the supporting documents.
The company implements management and accounting controls to ensure compliance with the above requirements and to ensure that financial statements and other reports are prepared accurately and reliably.
The company prohibits any form of discrimination based on race, ethnicity, gender, sexual orientation, beliefs, religion, age, or disability, and is committed to providing a work environment free from discrimination. We will ensure equal opportunities for all employees in all employment conditions, including hiring, education, training, compensation, and promotion. Employment-related decisions will comply with labor laws. The company strictly prohibits all forms of harassment, including sexual harassment, in the workplace.
Bribery is a violation of company guidelines and is illegal under relevant laws. We do not offer or accept any unlawful bribes, kickbacks, or incentives.
As we handle genetic information, which is highly sensitive, we must maintain a stricter sense of bioethics. The company must comply with all relevant regulations in its business activities. In matters where legislation is not established, decisions should be based on the four major principles of bioethics: the principle of respect for autonomy, the principle of non-maleficence, the principle of beneficence, and the principle of justice. Bioethical considerations must be reviewed before technology development and product planning. If potential misuse of technology is anticipated, solutions or safeguards must be prepared and development should proceed accordingly. Furthermore, members involved in genome analysis must handle genetic information of patients or customers with utmost care and must not disclose experimental results to anyone other than the concerned parties.
If an exemption from any provision of this code is necessary, only the employee's immediate supervisor may request the exemption, and it must be pre-notified to the Ethics Committee (or to management before the committee is formed). If the company’s management requires an exemption, it can only be granted by an unanimous resolution of the board of directors, and any exemptions granted to management must be disclosed. We must clearly understand that exemptions are not easily granted and will only be considered for perfectly legitimate reasons.
The company must conduct regular audits to ensure compliance with this code. If any violations are reported, the Ethics Committee will investigate directly and must report any illegal activities to the board of directors and relevant authorities immediately. Deliberate false reporting of misconduct will be subject to disciplinary action. We must fully cooperate with all internal and external investigations. Additionally, all members are obligated to maintain confidentiality regarding investigation-related information unless explicitly approved for disclosure by management. Disciplinary actions for violations of this code include counseling, reprimand, warning, paid or unpaid suspension, demotion, salary reduction, termination, restitution, and criminal prosecution. If a supervisor is involved in or fails to adequately oversee a violation of this code, they may also be subject to disciplinary action. Severe penalties, including termination, may be imposed on anyone who retaliates against members who raise good-faith questions or concerns about compliance with this code. Members must understand that destroying or altering documents to obstruct any pending, ongoing, or planned investigation or litigation is strictly prohibited.
