In line with Hyundai Motor Company’s global approach, Hyundai Motor Europe has based its history of achievements and successes in Europe on the highest respect to applicable laws and internal policies. In this regard, Hyundai Motor Europe has adopted an unconditional commitment to the highest standards of professionalism and integrity. Therefore, the necessary time and resources had been devoted in order to implement an operative and effective compliance structure within Europe.
Pillars of Hyundai Motor Europe’s Compliance Structure
- 1. Raising awareness & creating knowledge
It is important to provide clear guidance to our employees on the existing legal responsibilities and ethical standards. With this purpose, we have developed and made available to all employees in our organization different manuals and policies on relevant compliance topics. These materials have been designed in order to help identifying and avoiding illegal and/or unethical practices.
Likewise, knowledge updates and compulsory on-site and on-line training modules are launched periodically in order to provide our workforce with a practical understanding of the referred manuals and policies and to ensure that any development of the legal framework is respected.
- 2. Risk Management
Hyundai Motor Europe is permanently monitoring its activities necessary to avoid non-compliance with law:
- On our daily operational level, the compliance team delivers legal advice regarding activities which are related to compliance-sensitive topics and grants “compliance clearance” whenever necessary.
- Periodically, an internal risk-assessment is being carried out at Hyundai Motor Europe in order to identify existing potential risks and introduce the most appropriate countermeasures in cooperation with the relevant teams.
- 3. Dedicated Compliance Team & Compliance Committee
A dedicated compliance team has been established at Hyundai Motor Europe in order to ensure the effectiveness of our commitment to compliance.
Alongside the compliance team, a compliance committee has been instituted at Hyundai Motor Europe in order to assist on the development and implementation of compliance. The compliance committee is formed by representatives of senior management from all operational fields.
Furthermore, it is important to note that Hyundai Motor Europe’s compliance program has been rolled out European-wide, creating a genuine European compliance framework of which Mr. Hyun-Soo Kim has been appointed as Chief Compliance Officer.
* Hyundai Motor Europe Compliance Team can be reached at email@example.com