Basic Procurement Policy

We engage in procurement activities based on the following guidelines in order to provide safe, secure and quality products and services.

1. Quality first

1) Emphasize quality and safety of our products as well as cost-effectiveness, in accordance with our Quality Policy.

2) Strive to not only ensure and improve the quality of procured products but also respond appropriately to market changes, based on a variety of information in relation to market trends of materials and products, of new technologies, of new materials, of new construction methods, etc.

2. Open and fair trading

1) Procure by competitive estimation as a matter of principle and provide fair opportunities. Also, conduct fair and impartial transactions with our suppliers in accordance with the established policies and procedures.

2) Select our suppliers by making a comprehensive assessment in terms of quality (Q), cost (C), delivery date (D), and securing stable supply as well as their CSR initiatives, technical capabilities, proposal ability, business conditions, etc.

3. Practice of proper procurement activities

1) Establish, by our procurement staff, healthy relationships with our suppliers based on the principles of fair competition.

2) Not accept, personally, money and gifts, entertainment, or any other favor from our suppliers, regardless of the amount or name in which they are offered.

4. Elimination of antisocial forces

1) Not engage, both at home and internationally, in any business with antisocial forces and such companies/organizations/individuals as having any supportive or cooperative relationships (including funding) with antisocial forces.

5. Environmentally conscious practice and global environment conservation

1) Comply with applicable laws, regulations, ordinances and voluntary standards of the industry etc.; consider the global environment; Protect the environment from pollution ; engage in procurement activities that coexist in harmony with nature.

2) Promote green procurement and engage in procurement activities that take into consideration biodiversity and ecosystems.

6. Mutual trust and development with suppliers

1) Regard our suppliers as partners for co-creation, aim to foster long-term relationships of trust with them, and promote mutual development.

2) Cooperate with our suppliers for proper implementation of procurement risk management and work with them to minimize the impact on society as well as on companies' operations.