Korea Railroad

Ethical Management refers to a company’s understanding and implementation of the ethical responsibilities which are socially and commonly expected as well as its economic and legal responsibilities

Following a series of high-profile accounting scandals, corporate ethics has become more important, and ethical management has emerged as a global standard.

Also, the legal institution has been reinforced to strengthen ethics. Keeping pace with this trend, an increasing number of companies are introducing ethical management practice.

Ethical management should be recognized not only as a management tool, but as a management philosophy and a shared value that makes organizations and their management activities sound. It should also be seen as a source of competitiveness.

Today, the companies that do not understand the principles of ethical management and trust cannot be successful. Only those with strong ethical values can survive in this competitive management environment

For all its decisions and implementation of the decisions, companies should also consider their legal and social values from a long term perspective. This principle of social responsibilities is emerging as a major factor of ethical management.