Ethics
Staying on the right path
Business Principle
Global Leading Company Contributing to Human Society
Samsung Securities' fair and transparent management formed through values and conduct.
Top Products and Services Based on Talent and Technology.
Samsung aims to be a world leading company, devoting our human resources and technology to create superior products and services, thereby contributing to a better global society. To this end, we share and pursue Samsung Values; People, Excellence, Change, Integrity, Co-prosperity. As part of the effort to realize these values, we follow the Samsung Business Principles. These are not only our promise to comply with laws and good ethical practices, but also a concrete expression of our commitment to these values. The Samsung Business Principles will be the guiding standards for everyone in Samsung, outlining the conduct expected of all our employees both individually and collectively.
Corporate and Social Responsibilities.
In fulfilling our corporate and social responsibilities, Samsung Securities adheres to five business principles.
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Principle 1.
We comply with laws and ethical standards.
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Principle 2.
We maintain a clean organizational culture.
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Principle 3.
We respect customers, shareholders and employees.
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Principle 4.
We care for the environment, health and safety.
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Principle 5.
We are a socially responsible corporate citizen.
Principle 1We comply with laws and ethical standards.
We respect the dignity and diversity of individuals.
We respect the basic human rights of everyone.
We do not, under any circumstances, permit forced labor, wage exploitation or child labor.
We do not discriminate against any stakeholders, including customers and employees, on the basis of nationality, race, gender, religion, etc.
We compete fairly, complying with laws and business ethics.
We comply with the laws of the countries and communities in which we conduct business and we respect business competition standards and practices.
We do not take any profits from unethical business practices. (Money-laundering or insider trading, etc.)
We do not permit the exchange of gifts, entertainment or any other form of bribery as an inducement to engage in unfair business practices.
We maintain accounting transparency by keeping accurate records.
We accurately record and maintain all business transactions to provide objective information on business activities for all stakeholders.
We abide by accounting rules of relevant countries and internationally accepted accounting standards.
We disclose material business matters such as major financial changes, corporate information as prescribed by law.
We do not intervene in politics and we maintain a neutral stance on all political issues.
We respect the political rights and opinions of the individual. However, political activity should be kept outside of the workplace.
We do not use company resources for political purposes.
We do not provide illegal political donation.
We make donations after a fair review so that we do not use them for fraudulent activities such as political purposes or money laundering.
Principle 2We maintain a clean organizational culture.
We draw a strict line between public and private affairs in all business activities.
When the interests of the company and the individual conflict, the legitimate interests of the company should take precedence.
We do not allow securities transactions such as trading in the company shares utilizing internal business information.
We protect and respect the intellectual property of the company and others.
We do not divulge internal intellectual property and classified information without prior permission or approval.
We respect the intellectual property of others by avoiding acts of infringement such as copying, distribution, modification or use without permission.
We create a healthy organizational atmosphere.
We foster positive working relationships by prohibiting harmful practices such as sexual harassment, violence and inappropriate monetary transactions between colleagues.
We do not allow favoritism or private groups based on external affiliations that is detrimental to the harmony within the company.
We establish win-win labor-management relations based on mutual trust and open communication.
Principle 3We respect customers, shareholders and employees.
We value customer satisfaction as the top priority in our business activities.
We provide products and services that meet customer demands and expectations in a timely manner.
We treat our customers with sincerity and kindness, and attend to their proposals and complaints.
We respect and protect our customers' reputation and their personal and proprietary information.
We focus on shareholder value.
We strive to provide long-term benefits to shareholders through rational investment and efficient management.
We strive to make stable profits and increase the market value of the company with robust business operations.
We respect the rights, opinions and reasonable requests of shareholders.
We endeavor to improve employees' quality of life.
We provide equal opportunities to all employees, and treat them fairly based on their abilities and performance.
We encourage all employees to pursue continuous self-development and we actively support the improvement of their capabilities for better business performance.
We strive to provide a workplace environment that fosters personal initiative and creativity.
Principle 4We care for the environment, health and safety.
We engage in environmentally friendly management practices.
We observe global standards, related laws, and internal regulations related to conservation of the environment.
We endeavor to protect the environment in all business operations, including product development, manufacturing and sales.
We strive to implement activities that use resources efficiently such as recycling.
We value human health and safety.
We observe global standards, related laws, and internal regulations related to safety.
We strive to prevent accidents by complying with safety regulations and fostering a pleasant work environment.
We take every precaution not to supply products and services that could harm human health and safety.
Principle 5We are a socially responsible corporate citizen.
We actively perform our duties as a corporate citizen.
We endeavor to raise public trust in our company by fulfilling our responsibilities and duties as a member of local communities.
We strive to generate stable employment and fulfill our responsibilities to pay taxes faithfully
We respect the characteristics of local custom, culture, and society, and strive to prosper together with local communities
We respect the laws, cultures and values of the countries in which we do business, and we contribute to the quality of life of local residents.
We lead the improvement of societies through the support of public activities such as education, art, culture and sports.
We actively participate in public services such as volunteer activities and disaster relief services.
We build win-win relationships with business partners.
We form reciprocal relationships on the basis of mutual trust with our suppliers, and treat them as strategic partners.
We reinforce our suppliers' competitiveness with legitimate support in order to achieve co-prosperity.
Human Rights Policy
Samsung Securities respects the rights of all stakeholders related to its business operations and endeavors to preempt all potential human rights issues.
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1. Customers
- A. Offer only products and services that are appropriate to the investment propensities of customers and prohibit discriminating customers based on age, sex, race and other criteria.
- B. Collect information only for the purpose of offering customer service and safeguard collected information.
- C. Do not discriminate customers with limited access to financial services due to their physical disabilities.
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2. Shareholders
- A. Safeguard shareholder rights through employee stock ownership, proxy voting, and other means of exercising shareholder rights.
- B. Earn shareholder trust through transparent information sharing and proactive communication.
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3. Employees
- A. Respect the diversity of employees through equal employment and fair performance evaluation.
- B. Institute a personnel policy that considers the life cycle of employees through employee benefit and HR development systems.
- C. Prevent labor practices that violate the principles of the UN Global Compact and the ILO Conventions on child labor.
- D. Endeavor to improve labor conditions through promotion of a safe and pleasant work environment.
- E. Take steps to protect employees working with customers from verbal abuses, sexual harassment or violence by customers in accordance with the corporate responsibility to safeguard customer-handing employees.
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4. Government, relevant organizations and partner companies
- A. Practice compliance management by complying with domestic and international laws and strengthening internal controls.
- B. Respect the rights of partner companies involved in purchase and other contracts and pursue win-win growth.
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5. Local communities, social groups, future generations
- A. Conduct social contribution in consideration of local communities and future generations based on corporate citizenship.
- B. Protect the rights of the marginalized of local communities by improving systems and services, developing financial education programs and establishing other protective means as a responsible corporate citizen should.
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[Appenclix] Standards for measures of protecting customer-handling employees
- 1. Purpose—This regulation aims to define measures necessary to protect employees interacting with customers from verbal abuses, sexual harassment or violence by customers in accordance with the Article 63-2 of the Capital Markets and Financial Investment Services Act.
- 2. Scope of application—This regulation applies to cases where an employee(s) is verbally abused, sexually harassed, defamed, or interrupted of work during conduct of duty.
- 3. Protection measures—Operation of a center for relieving emotional distress, reassignment to a non-customer-handling job, support for employees seeking emotional treatment or counseling, and other legal measures deemed necessary for protecting relevant employees.
- 4. Other consideration—Employees should not suffer disadvantage for the reason they have requested protective measures against unruly customers.
Guidance on the Prevention of Money
Laundering and the Financing of Terrorism
Competent Department: Compliance Team
Enacted : 2001.11.26
Amended : 2002. 7.12
Amended : 2005.11. 1
Amended : 2006. 1.18
Amended : 2008.11. 1
Amended : 2009. 1.19
Amended : 2009. 3. 9
Amended : 2009. 6.15
Amended in full : 2010. 7.30
Amended : 2013.11.14
Amended : 2018. 1. 5
Amended : 2018. 8.24
Chapter 3 (Customer Due Diligence)
Section 1 (Common Provisions)
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Article 18 (Definitions)
- (1) Customer Due Diligence refers to the exercise of reasonable care by a financial institution, in accordance with Article 5 Paragraph 2 of the Act, to verify and authenticate a customer’s identity, the purpose and nature of the intended business relationship, and the beneficial owner to guard against the use of the institution’s financial products or services for money laundering.
- (2) Simplified Customer Due Diligence refers to the procedures applied when it is possible to partly omit the
processes or methods in Paragraph 1 with respect to a product or service (excluding the identity verification
provisions under Article 36) or when the customer is deemed to present a low risk of money laundering.
However, Simplified Customer Due Diligence is not applicable in the following circumstances.
- 1. Nationals of FATF-designated Non Cooperative Countries and Territories (companies included).
- 2. Suspicion or high risk of money laundering.
- (3) Enhanced Due Diligence refers to the verification of additional information related to high risk products, services or customers through the identity verification and authentication procedures stipulated in Articles 36 through 38 and/or measures stipulated in Articles 39 and 40 and Chapter 4.
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Article 19 (Scope)
For effective Customer Due Diligence in compliance with Article 5 Paragraph 2 of the Act, written and applied work guidelines must specify the following items.
- 1. The entities subject to and the timing of Customer Due Diligence.
- 2. Procedures and methods for verifying and authenticating customer identity according to money.
- 3. Procedures and methods for handling refusals of customer identity verification and authentication.
- 4. Performance of due diligence on main high risk customer groups.
- 5. Ongoing performance of due diligence.
- 6. Establishment and application of transaction monitoring system based on money laundering risk.
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Article 28 (Country Risk)
- (1) Financial institutions are required to evaluate money laundering risk arising from vulnerabilities in certain countries’ anti money laundering systems and financial environments (hereinafter “country risk”).
- (2) Pursuant to Paragraph 1, country risk evaluations must reference the following materials issued by
reputable institutions.
- 1. The FATF-issued list of Non Cooperative Countries or Territories.
- 2. Countries identified in FATF Statements as deficient in their compliance with FATF recommendations.
- 3. Sanctions or embargoes issued by the UN or other international organizations (World Bank, OECD, IMF, etc.) and other similar measures and related country lists.
- 4. Country lists related to corruption issued by Transparency International, etc.
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Article 34 (Non-face-to-face Business)
- (1) Financial institutions are required to formulate procedures and methods for managing money laundering risk arising from non face to face business.
- (2) Financial institutions are required to apply the procedures and methods pursuant to Paragraph 1 when conducting new financial transactions or ongoing Customer Due Diligence in non face to face scenarios.
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Article 42 (Verifying Status of Designated Persons or Entities)
- (1) Financial institutions must establish and apply processes that can verify, before a financial transaction is
completed, whether a customer is a designated person or entity by referencing the following lists of persons
and entities.
- 1. Lists published by the Financial Services Commission of persons whose financial transactions are restricted under the Act on Prohibition Against the Financing of Terrorism.
- 2. The United Nations Consolidated List of persons and entities subject to UN Security Council measures.
- 3. The FATF-issued list of Non Cooperative Countries and Territories and lists of countries deficient in compliance according to FATF Statements.
- 4. Lists of foreign politically exposed persons.
- (1) Financial institutions must establish and apply processes that can verify, before a financial transaction is
completed, whether a customer is a designated person or entity by referencing the following lists of persons
and entities.
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Article 97 (Record Retention Period)
- (1) Financial institutions are required to keep internal and external reports and related materials, including Customer Due Diligence records, transaction records and reports on suspicious or high value cash transactions, for no less than five years.
Tax Policy
Samsung Securities fulfills its tax obligations in accordance with Samsung Group's Business Principle ‘We comply with laws and ethical standards’ and complies with all relevant tax laws and regulations of the respective countries in which we operate.
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1. Compliance with Tax Laws and Tax Risk Management
- Samsung Securities shall adhere to the tax laws and regulations of the countries in which we operate. Various tax related legal and regulatory risks shall be preemptively managed to mitigate risks and promptly adapt to changes in relevant laws and regulations.
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2. Use of Transparent Tax Structure
- Samsung Securities shall not use a tax structure for the purpose of tax avoidance and shall prohibit the transfer of value created to low tax jurisdictions, transfer mispricing and the use of tax havens.
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3. Prohibition of Unfair Internal Transactions and Investments
- Unfair internal transactions among Samsung affiliates are strictly prohibited. Should such a transaction occur, it shall be reviewed by the relevant department in advance, and the case shall be processed in a transparent manner in accordance with pre established procedures.
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4. Information Disclosure
- Samsung Securities shall disclose tax payment details in full transparency and aim for a sound tax payment culture.