Dear executives and employees,

Since its establishment in 1945, Hanjin Co., Ltd. has grown as the best comprehensive logistics company in Korea thanks to the unstinting support of customers.

We have been striving to establish a fair culture by introducing the 'Autonomous Fair Trade Compliance Program' in 2004. Recently, social interest in fair competition among companies has been increasing as time goes by. In line with the trend in which fair trade-related regulations of the government to create the fair economic ecosystem are continuously being strengthened such as the Fair Trade Act and the Subcontracting Act., the need for the company to establish a compliance system by reestablishing its autonomous fair trade compliance program has grown. Ultimately, this is to deliver the best value to customers by respecting the order of the free competitive market.

If there were a violation of fair trade-related laws and regulations, we would be subject to sanctions such as a correction order, penalty surcharge, and criminal prosecution etc. from the Fair Trade Commission. There will be huge losses, both tangible and intangible, such as restrictions on qualification to participate in bidding, litigation for damages, and damage to the company's reputation through media reports. In addition, when dealing with business partners, there is also the risk of sanctions due to violations of the Subcontracting Act and the Act on the Promotion of Mutually Beneficial Cooperation between Large Enterprises and Small and Medium Enterprises due to problems such as non-delivery of contracts and delayed issuance of contracts, etc.

Accordingly, all executives and employees shall strictly refrain from unfair joint actions, including bid rigging, in the course of performing their duties and shall thoroughly comply with fair trade laws and regulations to prevent any damage to the company due to fair trade issues in the future through complete establishment of a fair trade compliance in corporate culture.

The autonomous Fair Trade Compliance Program is the standard and internal control system voluntarily established and operated by companies to comply with fair trade-related laws and regulations. The company plans to do its best to improve the compliance and ethical awareness of its employees through the actual operation of the program, and to prevent violations of the law, to spread and establish the culture of fair trade.

All executives and employees are requested to abide by the obligation to comply with laws and regulations set forth in the company's Compliance Program standards, the obligation to consult in advance in case of alleged violation of the law, the obligation to report any internal violations, and the obligation to participate in CP training, etc.

The company will give full support to the operation of the fair trade compliance program, and will take strict sanctions by applying the 'principle of zero tolerance' for violations of laws or non-fulfillment of obligations that harm the fair trade culture.

I would like to ask for your interest and active participation in the path to "customer satisfaction management" and "establishment of a fair trade compliance in corporate culture" based on customers’ trust.

CEO of Hanjin Co., Ltd.