SOOP ESG2023

SOOP has established, and enforces, the code of ethics to internalize the philosophy of Business ethics, and it annually conducts a business ethics practice pledge program for all of its employees to pledge to understand and comply with the corporate code of ethics. In addition, SOOP’s code of conduct provides clear standards for employees’ decision-making and behavior, and SOOP actively strives to establish an ethical organizational culture by operating continuous monitoring and internal control programs.

In addition, SOOP clearly defines ethical behavior related to misconduct and copyright infringement in content production, distribution, and consumption through its ‘operation policy’ posted on its official website. In particular, to promote fair trade practices related to content, SOOP complies with the revised ‘Guidelines for examination on labeling and advertising of recommendation, guarantee, etc.’ and makes it easy for viewers to identify advertisements with financial interests in live broadcasts and VODs through the ‘Includes Paid Ads’ feature. By creating such an ethical and trustworthy content culture, SOOP strives to enhance its stakeholders’ confidence.

SOOP is laying a systematic foundation for all of its employees to consider their top priority, and actively implement ethical values. As part of such endeavor, in 2018, SOOP published its code of conduct which stipulates the values that the company prioritizes, including the principles of integrity, autonomy, fairness, respect and trust, and the obligations to the company and its stakeholders, including investors, customers, and competitors. In 2021, SOOP amended its code of conduct to require all of its employees who have direct or indirect business relationships with SOOP, including its affiliates and business associates, to comply with it. In addition, if an employee of SOOP violates its internal rules, including the code of ethics and employment rules, or finds out such violation by another employee and fails to report it, disciplinary action may be taken against such employee as determined by SOOP’s personnel committee(disciplinary committee). The personnel committee may determine the level of disciplinary action in overall consideration of the seriousness of the relevant case and other circumstances, and SOOP may report any illegal act confirmed to an external investigative agency with public authority.

Five Stakeholders in the Code of Conduct

In order to foster a fair and ethical culture, SOOP provides training on ethical awareness and law-abiding spirit, including competency development for compliance officers and business ethics education for all its employees. In 2023, SOOP provided education “Business Ethics: The Top Priority Value of Corporate Management” to educate its employees on essential elements of ethical corporate management, including ESG, sustainable management, Triple Bottom Line, and Double Bottom Line. Out of 537 targeted employees, 500 completed the training, resulting in 93.1% completion rate. In addition to its education for business ethics, SOOP takes disciplinary action under its internal regulations against violations of the Code of Conduct on key issues to prevent unethical behavior and uses such violations as compliance education materials to prevent the recurrence thereof.

SOOP has established a system designed to address and eradicate unfair practices within the organization. This system allows employees and affiliates to report misconduct or unreasonable demands they may encounter through various channels from internal bulletin board, telephone, fax, to mail. To protect those who come forward, SOOP offers an anonymous reporting option, ensuring the confidentiality of both the reporter’s identity and the context of the report. This anonymity safeguards reporters from any potential disadvantages. Upon receiving a report, the Human Resources team promptly initiates follow-up measures to investigate and address the issues raised, with the Human Resources Committee engaged if needed.