Chapter 1. General Provisions

Article 1 (Purpose)

This Code of Conduct aims to specify the behavior standards which all directors and employees of Korea National Oil Corporation (“KNOC”) shall comply with for the stabilization of a clean and anti-corrupt public service environment in accordance with Article 8, Act on the Prevention of Corruption and the Establishment and Management of the Anti-corruption and Civil Rights Commission (the “Act”). <Revised on Sep. 23, 2016>

Article 1-2 (Interpretation and Application Criteria)

Any matters not specified in this Code of Conduct shall be strictly interpreted and applied to fit to the purpose of its establishment, that is, the ‘stabilization of a clean and anti-corrupt public service environment.

Article 2 (Definition)

The terms used in this Code of Conducts are defined as follows: <Revised on Jun. 10, 2016>

1. 1. “Duty-related party” means an individual (when a director or an employee is in a private position, he/she is considered as an individual) or a group in each item below as the party related to the duties of directors or employees:
   1. A. An individual or a group that definitely applied for or has the intention to apply for civil affairs administration in KNOC;
   2. B. An individual or a group that is the subject to approval, permit, examination, inspection, crackdown, or instruction;
   3. C. An individual or a group that is subject to direct advantage or disadvantage due to decisions, evaluation, examination, inspection, or adjustment;
   4. D. An individual or a group that executes or will execute a contract with KNOC;
   5. E. An individual or a group that has the practical interest from the use or non-use of occupational authorities by a director or an employee or requests a specific act from KNOC;
   6. F. An individual or a group that gets direct advantage or disadvantage from decision or execution of a policy or a business;
   7. G. Other individuals or groups that are related to businesses decided by the President.
2. 2. “Duty-related director or employee” means a director or an employee that gets direct advantage or disadvantage related to the duties of other directors or employees as specified in each item below:
   1. A. A junior employee that carries out an instruction related to the duties of a director or an employee;
   2. B. A director or an employee that performs duties, including human resource management, budget, inspection, prize or appraisal and other directors or employees directly related to such duty;
   3. C. A director or an employee related to contracts or outsourcing when the work is contracted or outsourced;
   4. D. Other directors or employees specified by the President.
3. 3. “Code of ConductOfficer” is the person in charge of the operation of the Code of Conduct and performs the work specified in each item below as the Head of the Ethic Management Department. <Revised on Sep. 5, 2018>
   1. A. Matters related to education and counseling on the Code of Conduct;
   2. B. Matters related to checking or assessing compliance with the Code of Conduct;
   3. C. Matters related to receipt of a reports on an infringement upon the of Code of Conduct, investigations and the protection of a reporter;
   4. D. Other matters required to the operation of the Code of Conduct.
4. 4. “Money and Valuables” mean any one of the items below. <Revised on Sep. 23, 2018>
   1. A. All material profits, including money, valuables, marketable securities, real estate, goods, accommodation voucher, membership, admission tickets, discount vouchers, invitations, tickets for viewing, and the use rights of real estate;
   2. B. Entertainment or treats, including food, liquor or golf or conveninences, including transportation or accommodations;
   3. C. Other tangible or intangible financial profits, including exemptions from obligation, employment or the transfer of rights of interests <Revised on Sep. 23, 2016.>
5. 5. <Deleted on Sep. 23, 2016>
6. 6. “Chief Ethics Officer” is the {resident and the highest decision maker in KNOC. <Revised on Jun. 10, 2019>

Article 3 (Targets)

This Code of Conducts is applied to directors (except non-executive directors. ) and employees (including public officials in special services and dispatched employees) <Revised on Oct. 30, 2015>

Article 4 (Compliance Obligations and Responsibilities)

1. ① Directors and employees shall fully understand and comply with the Code of Conduct and take the responsibility for any infringement thereof.
2. ② The Chief Ethics Officer can request directors and employees to execute the “Written Oath on Practice of Code of Conduct” in Attachment Form 1, “Written Oath on Practice of Integrity Contract” in Attachment Form 2, “Written Oath on Anti-Corruption and Integrity Practice” in Attachment Form 3, “Written Oath on Anti-Graft and Anti-Bribery Practice including Money and Valuables” in Attachment Form 4, and other written oaths for the practice of ethics management. <Revised on Sep. 5, 2018>
3. ③ Presidents, executive auditors, directors and heads shall execute the Written Oath on Anti-Corruption and Anti-Graft Practice“ within 2 weeks from the date of appointment unless there is any inevitable reason. New employees shall execute the Written Oath on Anti-Graft and Anti-Bribery Practice including Money and Valuables at the time of employment. <Revised on Sep. 5, 2018>

Article 4-2 (Avoiding Conflict of Interest)

1. ① Directors and employees shall endeavor to avoid any behaviors causing conflicts of interest of KNOC.
2. ② Directors and employees shall prioritize the interest of KNOC in case of the conflict of interest between KNOC and an individual or a department.

Article 4-3(Fair Trade)

1. ① Directors and employees shall give the fair opportunity to every qualified individual or group and contract related to construction projects or procurement of service and goods by KNOC, and shall not give any special advantage to a retired employee of KNOC or a group operated by a retired employee of KNOC.
2. ② All transactions shall be made fairly on an equal footing and transparently in an open and ordinary business place.
3. ③ Directors and employees shall not request money or valuables by using their dominant position in transactions and shall not make any unreasonable demands, including the forcing unfair terms of transactions or management intervention.

Article 4-4 (Compliance of International Norms, etc.)

Directors and employees shall comply with international norms and local laws, respect local culture and transaction practices, and not do any acts damaging the dignity of KNOC while carrying out projects abroad. <Revised on Oct. 31, 2013>

Chapter 2. Fair Performance of Duties

Article 5 (Handling Instructions Interrupting Fair Performance of Duties)

1. ① Directors and employees shall not give any instructions which may interrupt the fair performance of duties to subordinates or infringing upon laws or regulations in order to promote the profits of a third party or themselves. Instructions which may interrupt the fair performance of duties are determined in accordance with each item below. Table 1 presents the types of those instructions. <Revised on Oct. 30, 2015>
   1. 1. Instruction infringing upon laws, internal regulations, or work guidelines;
   2. 2. Instruction which may cause property damages of a relevant organization or a partner;
   3. 3. Instruction pursing not public profits, but private profits;
   4. 4. Instruction abusing the position or authorities;
   5. 5. Other instructions forcing unreasonable acts.
2. ② In case of Paragraph ① above, a subordinate receiving the instruction infringing fair performance of duties can dismiss the instruction after explaining the reasons to his/her superior using Attachment Form 5 or by email. <Revised on Sep. 5, 2018>
3. ③ Nonetheless the non-fulfillment of instruction in accordance with the provisions in Paragraph ② above, if the same instruction is repeated, a subordinate shall immediately report to the Chief Ethics Officer or discuss with the Code of ConductOfficer using Attachment Form 6 or by email. <Revised on Sep. 5, 2018>
4. ④ For discussions specified in Paragraph ③ above, the Code of Conduct Officer checks the details of the instruction and shall immediately report to the Chief Ethics Officer when it is required to cancel or change the instruction. However, the Code of Conduct Officer can decide whether to report to the Chief Ethics Officer or not when the superior making the unreasonable instruction cancels or changes the instruction in the inspection process. <Revised on Sep. 5, 2018>
5. ⑤ After receiving the report in accordance with the provisions in Paragraph ③ or ④, the Chief Ethics Officer shall take the proper actions against the instruction, including the cancellation or the change of an instruction if required. In such a case, the Chief Ethics Officer can take the proper actions, including punishment to the superior for continuing the same instruction in spite of the non-fulfillment of the instruction interrupting fair performance of duties in accordance with the provisions in Paragraph ②. <Revised on Jun. 10, 2016>
6. ⑥ Any discrimination or disadvantage caused by the non-fulfillment of instruction in accordance with Paragraph ② above shall not be applied to the directors and employees.

Article 6 (Report of Private Interest, etc.)

1. ① Directors and employees shall report each of the following facts in writing (including electronic document) using Attachment Form 7 to the Chief Ethics Officer within 14 days from when he/she recognizes the fact. However, the provisions in this Paragraph are not applied to directors and employees performing simple civil service specified by the Chief Ethics Officer. <Revised on Oct. 29, 2021>
   1. 1. a director or an employee is the person related to a duty;
   2. 2. relatives within the 4th degree of kinship of a director or an employee (relatives in accordance with Article 767, Civil Act) are the person related to a duty;
   3. 3. a company or a group where a director or an employee worked for less than 2 years is an entity related to a duty;
   4. 4. a company or a group where a director or an employee, or one’s family member (family in accordance with Article 779, Civil Act. Same hereinafter) is working as a director, an employee, or an external director is an entity related to a duty;
   5. 5. a director, an employee or one’s family member represents a person related to a duty or provides advice or consulting service to a person related to a duty or is affiliated with a company or a group which performs such representation, advice or consulting service;
   6. 6. a company or a group (related parties.) whose shares, equity or capital owned by a director, an employee, or each one’s family member at a percentage higher than each of the followings is an entity related to a duty;
      1. A. a company which a director, an employee or one’s family member owns over 30% of total shares issued;
      2. B. a company which a director, an employee or one’s family member owns over 30% of the total portion of investment;
      3. C. a company which a director, an employee or one’s family member owns over 50% of the total capital;
   7. 7. a person with money transaction of over 1 million KRW is a person related to a duty;
   8. 8. a retired director or employee of KNOC who worked in the same department for 5 years before retirement is a person related to a duty;
   9. 9. a person who is considered to have difficulty in the fair performance of duties due to a continuing relationship, including school relations, regionalism, religion, work place relations, or colleagues employed in the same period is a person related to a duty;
   10. 10. a person who is considered to have difficulty in the fair performance of duties due to a continuing relationship with those who provide direct benefits through the performance of duties, including decision or execution of licenses, approval, contracting, policies, or projects within the recent 2 years is a person related to a duty;
   11. 11. Other persons who are designated by the Chief Ethics Officer as the person having difficulty in the fair performance of duties is a person related to a duty.
2. ② A person related to a duty or a interested person with respect to performance of a duty can request the Chief Ethics Officer to take actions, including the reassignment of duties in writing using Attachment Form 8 when a relevant director or employee is subject to any of the cases in Clause ①. In such a case, the Chief Ethics Officer can request the opinion from the relevant director or employee subject to the request including the reassignment of duties and the relevant director or employee shall submit a written opinion using Attachment Form 8-2. <Revised on Jun. 10, 2019>
3. ③ When a director or an employee admits a private relationship with a person related to a duty besides the cases in Clause ①, the relevant director or employee can request the Chief Executive Officer to take actions in writing, including the reassignment of duties using Attachment Form 9.
4. ④ After receiving the report in accordance with Clause ① or the request in accordance with Clauses ② and ③, the Chief Ethics Officer can apply each of the following actions to a relevant director or employee when it is considered that fair the performance of duties by a relevant director or employee can be interrupted.
   1. 1. temporary suspension of participation in duties;
   2. 2. designation of a person acting for a duty of a relevant director or employee or a person jointly performing a duty;
   3. 3. reassignment of duties;
   4. 4. transference.
5. ⑤ Nonetheless the provisions in Clause ④, the Chief Ethics Officer makes a relevant director or employee perform his/her own duties in any of the following cases. In such a case, the Chief Ethics Officer shall request the Code of Conducts Officer to check the fair performance of duties by the relevant director or employee.
   1. 1. if it is very difficult to replace a director or an employee performing the duties;
   2. 2. if the duties should be performed due to improvement of public benefits.
6. ⑥ The Chief Ethics Officer shall document and manage the matters related to report in accordance with Clause ①, application in accordance with Clauses ② and ③, actions in accordance with Clause ④ and actions in accordance with Clause ⑤ using the Attachment Form 10.
7. ⑦ Other matters related to reports by directors and employees on private relationships ,except matters specified in from Clause ① to Clause ⑥, shall be determined by the Chief Ethics Officer. <Newly established on Sep. 5, 2018>

Article 7 (Submission of Duties in Private Sector by Directors)

1. ① Directors (executive directors and auditors in accordance with Article 24, Act on the Management of Public Institutions and those in equivalent positions.) shall submit the statement on the duties in the private sector (duties for 3 years before appointment or starting the term of office) to the Chief Ethics Officer (the Code of Conducts Officer if the Chief Ethics Officer submits the statement) within 30 days from the date of appointment to the relevant position or from the date when the term of office starts) using Attachment Form 11.
2. ② The statement on duties in the private sector in accordance with Clause ① shall include the followings:
   1. 1. company or group where a director or an employee worked and the details of duties;
   2. 2. details on businesses or profit-seeking activities managed or operated;
   3. 3. Other matters specified by the Chief Ethics Officer.
3. ③ The Chief Ethics Officer shall keep and manage the statement on duties in the private sector submitted in accordance with Clause ① above.

[Newly established on Sep. 5, 2018]

Article 8 (Prohibition, Including Profit-Seeking Activities Related to Duties)

1. ① A director or an employee shall not be engaged in any of the following activities related to his/her duties. However, the provisions of this Clause shall not be applied if any of the following activities are permitted by other provisions.
1. 1. receiving consideration by individuals providing labor, advice, or consultation to a person related to duties;
2. 2. representing another party in the affiliated organization or providing advice, consultation, or information to the other party or an organization where a director or an employee is to becomes the subject of litigation or duties which have a direct stake in the affiliated organization;
3. 3. representing a foreign government, organization, corporation or group, except in cases permitted by the Chief Ethics Officer;
4. 4. holding other position related to duties, except cases permitted by the Chief Ethics Officer;
5. 5. other activities related to duties that may interrupt fair and incorrupt performance of duties, except the cases permitted by the Chief Ethics Officer.
2. ② The Chief Ethics Officer shall instruct directors and employees to stop or suspend activities which are determined to be subject to the activities specified in each item in Clause ①.

[Newly established on Sep. 5, 2018]

Article 9(Prohibition of Employment of Family Members)

1. ① A director shall not exert unreasonable influence to an organization he/she is employed by or an organization under the control of or invested by the organization he/she is employed by or subsidiaries, sub-subsidiaries or affiliates (“subsidiaries and others” hereinafter) specified in Article 2, the Monopoly Regulation and Fair Trade Act, including instructions to employ his/her family members.
2. ② An employee in charge of personnel affairs (including employees who can exert practical influence on personnel affairs) shall not exert unreasonable influence to the organization he/she is employed by, including instructions to employ his/her family members.
3. ③ An employee in charge of instruction, supervision, control, or support of subsidiaries and others shall not exert unreasonable influence on subsidiaries or others of the organization he/she is employed by, including instructions to employ his/her family members.

[Newly established on Sep. 5, 2018]

Article 10 (Prohibition of Private Contracts)

1. ① A director shall not execute private contracts on goods, services, or construction with the organization he/she is employed by, or an organization under the control of subsidiaries or other organizations where he/she is employed and shall not allow his/her family members or related parties to execute a private contracts on goods, services, or construction with the organization where he/she is employed, or the organization under the control of subsidiaries or other organization where he/she is employed.
2. ② An employee in charge of contract affairs shall not execute private contracts with the organization he/she is employed by and shall not allow his/her families to execute private contracts with the organization where he/she is employed.
3. ③ An employee in charge of instruction, supervision, control, or support of subsidiaries and others shall not execute private contracts with the subsidiaries or other organizations where he/she is employed and shall not allow his/her families to execute private contracts with the subsidiaries or other organizations where he/she is employee.

[Newly established on Sep. 5, 2018]

Article 11 (Report on Private Contact with a Retired)

1. ① A director or an employee shall report each of the following activities of a retired member of the organization (only a retiree whose retirement period is less than 2 years from the date of retirement) as a person related to the duties to the Chief Ethics Officer in writing using Attachment Form 12. However, the provisions of this Clause shall not be applied if such private contacts are allowed by other regulations or socially accepted rules. <Revised on June 10, 2019>
   1. 1. playing golf with a retiree as the person related to duties;
   2. 2. tours with a retiree as the person related to duties;
   3. 3. doing speculative games with a retiree as the person related to duties;
   4. 4. having entertainment, including meals or liquor with the payment done by a retiree as the person related to duties (including the activity a company or organization where a retiree is employed or sponsors the expenses);
   5. 5. other activities specified by the Chief Ethic Officer as activities having an infuence on the fair performance of duties.
2. ② The types of private contact, contents of report, and reporting methods in accordance with Clause ① above are specified by the Chief Ethics Officer.

[Newly established on Sep. 5, 2018]

Article 12 (Elimination of Preferential Treatment)

A director or an employee shall not provide preferential treatment to a person or discriminate against a person performing duties due to school relations, kinship, regionalism, religion, or age.

Article 13 (Prohibition of Use of Budget, except for the Purpose of Budget)

1. ① A director or an employee shall not cause any property damages of KNOC by using budgets for the performance of business, including travelling expenses and business operating expenses for any purpose, except the original purpose.
2. ② A director or an employee shall pay the business-related expenses, including business operating expenses using a corporate credit card.

Article 14 (Handling Unreasonable Demands by Politicians or Others)

1. ① If a director or an employee is forced to do unreasonable job by a public official, a politician, or a political party or receives a unreasonable request from a public official, a politician or a political party, he/she shall notify the Chief Ethic Officer using Attachment Form 13 or by email, discuss it with the Code of Conduct Officer and take proper actions.
2. ② The Chief Ethics Officer receiving the report or the Code of Conduct Officer in accordance with the provisions in Clause ① above shall take the proper actions to make a relevant director or employee fairly perform his/her duties.

Article 15 (Prohibition of Request on Special Consideration for a Job Position)

1. ① A director or an employee shall not make a related party request special consideration to a person in charge of personnel affairs in order to exert unreasonable influence on personnel affairs, including his/her appointment, promotion, or transference.
2. ② A director or an employee shall not unreasonably intervene in personal affairs of other directors or employees using his/her position, including appointment, promotion, or transference.
3. ③ A director or an employee receiving a request for special consideration shall immediately report the request to the Code of Conduct Officer in accordance with the procedure specified in Clause 2, Article 38.

Chapter 3. Prohibition of Receipt of Unfair Profits

Article 16 (Prohibition of Intervention in Profits and Rights)

1. ① A director or an employee shall not get unfair profits or make a third party get such profits using his/her position.
2. ② A director or an employee shall not use KNOC or his/her position or make a third party get unfair profits for himself/herself or a third party.

Article 17 (Prohibition of Private Use of Position)

A director or an employee shall not use or make a third party use the name of the organization where he/she is employed or his/her own position in that organization, including public disclosure or posting on such information for private profits beyond his/her scope of duties.

Article 18 (Prohibition of Mediation ㆍ Request for Preferential Treatment)

1. ① A director or an employee shall not be engaged in mediation or request preferential treatment which interrupts the fair performance of duties of other public officials (public officials specified in Item A and B, Clause 3, Article 2 of the Act.) to get unfair profits for himself/herself or a third party.
2. ② A director or an employee shall not introduce a person related to duties to other persons related to duties or a public official to get unfair profits for himself/herself or a third party related to the performance of duties.
3. ③ A director or an employee shall not make any improper solicitation or request corresponding to one of the followings to a third party who is not a public official by exerting his/her official authority or practical influence derived from his/her position or title to get improper profits for him/herself or a third party.
   1. 1. inducing, intervening or influencing an individual, a company, or a group to make investments, deposits, loans, donations, funds, contributions, sponsorships, or support;
   2. 2. inducing, intervening or influencing personal affairs or punishment, including employment, promotion, or transference;
   3. 3. disclosing trade secrets related to tenders, auctions, R&D, tests, or patents;
   4. 4. Inducing, intervening, or influencing the selection of a contractor or whether to execute a contract or not;
   5. 5. inducing to sell, exchange, use, get profits from, occupy, or offer goods or services to an individual, a company or a group beyond the general practices of transaction;
   6. 6. inducing, intervening, or influencing activities of secondary schools, including admissions, grades, or performance assessment;
   7. 7. inducing, intervening, or influencing a variety of prizes, awards, or selection of good organizations, good workers, or scholarship students;
   8. 8. inducing to include or exclude an individual, a company, or a group as a subject of inspection or investigation, to fabricate inspection or investigation results, or to overlook any infringement identified through inspection or investigation;
   9. 9. Other activities specified by the Chief Ethic Officer as improper solicitations or requests interrupting the fair performance of duties of a person who is not a public official.

[Wholly revised on Sep. 5, 2018]

Article 18-2 (Duties with Risk of Improper Solicitation and Request)

1. ① For an employee performing specific duties, including construction supervision, the period of service for specific duties shall be specified.
2. ② Specific duties and the relevant period of service in Clause ① above shall be specified in “Regulations for Implementation of Personnel Policies”.

Article 19 (Prohibition of Transactions using Confidential Information)

A director or an employee shall not trade his/her own properties or make investments related to marketable securities, including shares or real estate or shall not help a third party to do such activities using confidential information acquired while performing duties.

Article 19-2 (Prohibition of Transaction of Marketable Securities of a Company related to Duties)

A director or an employee in charge of E&P, stockpiling, distribution structure improvement, and relevant businesses shall not trade his/her own properties or make investments related to marketable securities of a company related to said duties. In case that a director or an employee needs to trade his/her own properties or make investment due to inevitable reasons, he/she shall report the reasons of the relevant transaction or investment to the Chief Ethic Officer using Attachment Form 14 before doing such activities.

Article 20 (Private Use of or Profiteering from Public Properties)

1. ① A director or an employee shall not use privately or get profits from the properties of KNOC, including business vehicles, goods, movable assets, real estate for various kinds of businesses or administrative affairs, intellectual properties or additional services, including flight mileage or saved points generated by using budgets of KNOC .
2. ② If a misconduct is identified in accordance with the provisions in Clause ① above, KNOC can retrieve up to three times the full amount of public properties privately used or acquired (including the principal and interest cost and damages.

Article 21 (Prohibition of Request of Private Solicitation)

A director or an employee shall not receive, solicit or promise private labor from a person, a director, or an employee related to duties by exerting practical influence derived from his/her position or title, or exerting his/her own authority. However, the provision in this Article will not be applied when it is permitted in accordance with other regulations or social rules. [Newly established on Sep. 5, 2018]

Article 21-2 (Prohibition of Unfair Acts by Exerting Duty-related Authority)

A director or an employee shall not commit any of the following unjust acts by exerting his/her duty-related authorities or exerting the practical influence derived from his or her position or title:

1. ① an act by a director or an employee in charge of permission or license which unfairly delays or rejects the receipt of the application to give any disadvantage to an applicant or any advantage or disadvantage to a third party;
2. ② an act of making unfair instructions or requests which are not related to duties or out of the scope of duties to a director or an employee;
3. ③ an act unfairly transferring the fulfillment of obligations or burdens of the organization to which a director or an employee belongs related to duties with respect to contracts on goods, services, or construction executed by his/her organization or of unfairly delaying business processings;
4. ④ an act of unfairly transferring the duties of the organization to which a director or an employee belongs or the burden of expenses or labor related to those duties to any organization under the control of the organization he/she belongs to;
5. ⑤ Other acts of unfairly restricting the rights or authorities of an organization under the control of the organization, of a person related to duties or of a director or an employee related to duties. or unfairly requesting a task that such organization, person, director, or employee has no obligation to do

[Newly established on Jun. 10, 2019]

Article 22 (Prohibition of Receipt of Money or Other Valuables)

1. ① A director or an employee shall not receive, request, or promise to receive money or other valuables exceeding 3 Million KRW every fiscal year or one Million KRW at one time from the same person for any reason whatsoever, including relevancy to duties, donations, contributions, or gifts.
2. ② A director or an employee shall not receive, request, or promise to receive money or other valuables not exceeding the amounts specified in Clause ① above, regardless of whether it is to return a favor related to duties.
3. ③ Honorarium for a guest lecture under Article 28 or any of the following money or other valuables shall not constitute money or other valuables prohibited in accordance with Clause ① and ②;
   1. 1. money or other valuables that a president pays to a director or an employee under his/her governance or a dispatched director, employee, or a senior director or employee pays to his/her subordinates for comfort, encouragement or rewards;
   2. 2. money or other valuables not exceeding the amount specified in Attachment Table 2 in the form of food, cash gifts, gifts, etc. which are provided for the purpose of smooth job performance, social activity, ritual, or monetary gift;
   3. 3. money or other valuables provided from the legitimate source of rights, such as the fulfillment of debts caused by private transactions (except gifts);
   4. 4. money or other valuables provided by relatives of a director or an employee;
   5. 5. money or other valuables provided by a mutual aid association, club, alumni association, hometown association, social gathering, religious group, or social groups related to a director or an employee to a member of any groups above in accordance with the rules specified by each group, and money or other valuables provided by a person having special long-term or lasting relationship with a director or an employee including members belonging to any groups above to a director or an employee in difficult situations caused by diseases, disasters, etc.;
   6. 6. money or other valuables of a customary amount evenly provided by an organizer of an official event related to duties of a director or an employee to participants in the form of transportation, accommodation, food, etc.;
   7. 7. souvenirs, promotional items for the distribution to many and unspecified persons or rewards or prizes given through contest, lottery, etc.;
   8. 8. other money or valuables permitted by social rules.
4. ④ Notwithstanding Paragraph 5, Clause ③, a director or an employee shall report any receipt of money or other valuables from a person with a special long-term or lasting relationship as a person, a director, or an employee related to duties to the Chief Ethic Officer using Attachment Form 15 in accordance with the provisions of the same Paragraph.
5. ⑤ A director or an employee shall make sure that his/her spouse, or lineal ascendants or descendants do not receive, request, or promise to receive money or other valuables which are prohibited for a director or an employee from receiving (“prohibited money or other valuables” hereinafter) with respect to his/her duties in accordance with Paragraph ① or ②
6. ⑥ A director or an employee shall not offer, promise to offer, or express any intention to offer prohibited money or other valuables to other directors, employees, or their spouses, or lineal descendants, or ascendants.
7. ⑦ A director or an employee shall not offer, promise to offer, or express any intention to offer the prohibited money or other valuables to a public official or a politician related to duties for the benefits of KNOC. However, this Clause is not applied to any cases subject to each item of Clause ③.

Article 23 (Execution and Implementation of Incorrupt Contract)

1. ① Directors and employees shall fairly and transparently carry out businesses in accordance with procedures specified in the relevant rules and regulations in the process of tender, execution, and implementation of contract, etc. of KNOC.
2. ② Directors and employees shall not request prohibited money or other valuables or make unfair requests, including forcing unfair terms and conditions of businesses or management intervention using the dominant position in the process of tender, execution, and implementation of contract, etc. specified in Clause ① above.
3. ③ Directors and employees shall not give any advantages related to construction or the procurement of goods to any company or group to which they belonged in the private sector before their appointment to the present position.

[Newly established on Oct. 30, 2015]

Chapter 4. Transparency of Information and Financial Management

Article 24 (Fair and Transparent Acquisition and Management of Information)

1. ① Directors and employees shall collect all information in righteous ways and accurately document and report on the basis of true facts without hiding or exclusively withholding information.
2. ② Directors and employees shall not falsify or exaggerate information for the benefits of a specific individual, organization, or group and shall not fabricate, destruct, hide, or exclusively withhold important information.

[Wholly revised on Sep. 5, 2018]

Article 25 (Transparent Accounting)

Directors and employees shall manage accounting in accurate and transparent ways on the basis of true facts in accordance with generally accepted accounting principles and relevant rules and regulations.

Article 26 (Prohibition of Information Disclosure)

Directors and employees shall not disclose to a third party or unjustly use the important information collected while performing duties without prior approval or permission by a president. <Revised on Sep. 5, 2018>

Article 27 (Transparent Disclosure of Information)

Directors and employees in charge of information disclosure shall disclose business information including general businesses, financial information, human resources, and relevant company rules on the KNOC website in order to secure business transparency and strengthen confidence in external relations.

Chapter 5. Formation of Sound Climate of Civil Service

Article 28 (Restriction in Receipt of Honoraria on Guest Lectures)

1. ① Directors and employees shall not receive honoraria exceeding the amount specified in Table 3 as compensation for a lecture, speech, or contribution at a workshop, promotion events, forum, seminar, public hearing or other meetings (“guest lectures, etc.” hereinafter) as requested, by exerting practical influence derived from their positions or titles. <Revised on Oct. 29, 2021>
2. ② Directors and employees shall report the lecture requests including guest lectures, etc., to the Chief Ethic Officer using Attachment Form 16 in case of any guest lectures, etc. that they receive honoraria. However, the provisions of this Clause are not applied to guest lectures requested by the State government or local authorities. <Revised on Oct. 29, 2021>
3. ③ If a director or an employee has no information on total honorarium or detailed statement to be reported in accordance with Clause ② above, he/she shall supplement the report with relevant information within 5 days from the date when he/she gets to know it.
4. ④ If it is difficult for a director or an employee to report guest lectures, etc. in advance, or there is any change in the report in accordance with Clause ② above, he/she shall report guest lectures, etc. within 10 days from the date when guest lectures, etc. are completed using Attachment Form 16. <Revised on May 28, 2002>
5. ⑤ The Chief Ethic Officer can restrict guest lectures, etc. of a director or an employee when it is considered that guest lectures, etc. reported by the director or the employee in accordance with Clause ② above has the possibility to interrupt the fair performance of duties. <Revised on May 28, 2020>
6. ⑥ A director or an employee shall report the receipt of honorarium exceeding the amount as specified in Clause ① above to the Chief Ethic Officer and return the exceeded amount immediately to the provider of the honorarium.
7. ⑦ A director or an employee can request the expenses incurred by return of exceeded amount to the Chief Ethic Officer using Attachment Form 17 with the evidentiary document if the exceeded amount is returned as specified in Clause ⑥ above. <Revised on June 10, 2019>
8. ⑧ Directors and employees shall get approval from the Chief Ethic Officer for guest lectures, etc. with an honoraria more than 10 times a year or 3 times a month. However, the guest lectures, etc. requested by the State Government or a local authorities or performed with the approval of an additional job are not included in the number of guest lectures, etc.
9. ⑨ Those who perform guest lectures, etc. shall carry out their duties in accordance with Article 21-4, Regulations for Implementation of Personnel Policies, and shall not make comments damaging the dignity of KNOC or being against the public interests when doing external activities. <Revised on Mar. 4, 2020>
10. ⑩ The Ethic Management Department shall document and keep the Attachment Form 18 Report Register on Guest Lectures, etc.

Article 29 (Report on Honoraria Exceeding the Limit, etc.)

1. ① A director or an employee shall report an honoraria exceeding the limit specified in Table 3 (“Exceeded Honoraria” hereinafter) to the Chief Ethic Officer within 2 days from the date when he/she gets recognizes the exceeded honoraria using Attachment Form 19.
2. ② After receiving the report in accordance with Clause ① above, the Chief Ethic Officer shall check the report from the relevant director or employee who does not return the exceeded amount of the honorarium and calculate and notify the exceeded amount to be returned to the relevant director or employee within 7 days from the date when the Chief Ethic Officer receives the report.
3. ③ A director or an employee receiving the notice in accordance with Clause ② above shall immediately return the exceeded amount of the honorarium (limited to the difference when a reporter returns a part of an exceeded amount) to the provider of the honorarium and notify the return to the Chief Ethic Officer. <Newly established on Sep. 23, 2016>

Article 30 (Report on Transactions with a Person related to Duties)

1. ① If a director or an employee or he/she recognizes that his/her spouse, or linear descendant or ascendant limited to linear descendants or ascendants sharing livelihood. ) or a related party does one of the following businesses directly with a person, a director or an employee related to his/her duties (including businesses without payment) in advance, he/she shall report it to the Chief Ethic Officer within 14 days from the date when he/she recognizes such an activity using Attachment Form 20. <Revised on Oct. 29, 2021>
   1. 1. borrowing or lending money or trading marketable securities. However, loans or transactions of marketable securities from financial companies on the general terms and conditions in accordance with Clause 1, Article 2, Act on Real Name Financial Transactions and Confidentiality is excluded
   2. 2. trading real estate, vehicles, ships, airplanes, construction machinery, other equivalent properties. However, trading through public auctions, auctions, bidding, or open draw (“public auction, etc.” hereinafter) is excluded.
   3. 3. Executing contracts on goods (except daily supplies), services, or construction, except the transactions specified in Clause 1 and 2 above. However, the execution of contracts through public actions or repeatedly executed contracts with many and unspecified persons are excluded.
2. ② If a director or an employee does or recognizes that his/her spouse, linear descendant or ascendant, or a related party does one of businesses specified in each paragraph in Clause ① with a person, a director or an employee related to duties, he/she shall report it to the Chief Ethic Officer within 14 days from when he/she recognizes such activities in writing using Attachment Form 20. However, this Clause is not applied when two years have passed from the date when businesses with a person, a director or an employee related to duties were completed. <Revised on Oct. 29, 2021>
3. ③ Notwithstanding Clause ① and ② above, this Article is not applied when a person, a director or an employee related to duties at present or in the past is a relative in accordance with Article 777, Civil Act.
4. ④ A director or an employee shall report the businesses in accordance with Clause ① and ② above to the Chief Ethic Officer in writing using Attachment Form 20 within 14 days from the date when he/she recognizes those businesses. However, if it is difficult to recognize and report because a director or an employee does not make transactions by himself/herself or the transactions are done by a third party as a broker or an agent, the director or the employee shall report the transactions within 5 days from the date when he/she knowsof the transactions. <Revised on Oct. 29, 2021>
5. ⑤ The Chief Ethic Officer can take actions in accordance with Clause 4 and 5, Article 5 on a director or an employee when it is considered that the businesses reported by the director or the employee may interrupt the fair performance of duties in accordance with Clause 1 and 2..

[Wholly revised on Sep. 5, 2018]

Article 31 (Stabilization of Sound Congratulation and Condolence Culture)

1. ① Directors and employees shall take the lead in stabilizing a sound congratulation and condolence culture.
2. ② Directors and employees shall not notify congratulation or condolence events to a person related to duties. However, this Clause does not applied to any of the following cases. <Revised on Mar. 4, 2020>
   1. 1. notifying congratulation or condolence events to a relative (means relatives in accordance with Article 767, Civil Act) <Revised on Sep. 5, 2018>
   2. 2. notifying to an employee belonging to the organization which a director or an employee is working at present or has worked in the past;
   3. 3. notifying in newspaper, media, or in an internal communication network, which only employees can access to in accordance with Paragraph 2 above;
   4. 4. notifying members of religious groups or social gathering a director or an employee belongs to.
3. ③ <Deleted on Sep. 23, 2016>

Article 31-2 (Prohibition of Unfair Request by Supervisory Agency)

1. ① Directors and employees shall not make any unfair requests corresponding to any of the followings to the organizations to be supervised, inspected, examined, or assessed by KNOC with respect to business trips, events, or the training of KNOC.
   1. 1. requesting money or other valuables which are not based on laws or do not fit to purposes or the use of budget;
   2. 2. requesting honorable treatment or protocols beyond the normal practices for directors and employees belonging to the supervisory agency.
2. ② If a director or an employee receives an unfair request specified in Clause ① from a director or an employee from an organization to supervise, inspect, examine, or assess KNOC (“supervisory agency” hereinafter), the director or the employee shall reject such a request. If the same request is continuously made even after rejection, the director or the employee shall report it to the Code of Conduct Officer in writing using Attachment Form 20-2. When the Code of Conduct Officer identifies that the request is subject to any of the items in Clause ①, the Code of Conduct Officer shall immediately report it to the Chief Ethic Officer.
3. ③ After receiving the report in accordance with Clause ② above, the Chief Ethic Officer shall notify the request to a head of the relevant supervisory agency if the request is subject to any of the items in Clause ①. The head of the supervisory agency receiving the notice shall take the necessary actions, including disciplinary actions against the director or the employee making the request.

[Newly established on Jun. 10, 2019]

Article 32 (Prohibition of Improper Use of IT System)

Directors and employees shall not do any of the following using the internal IT systems:

1. 1. access to pornographic or gambling website or indecent chats, etc.
2. 2. other improper activities, except busiensses

Article 33 (Sound Use of SNS)

1. ① Directors and employees shall not post any materials which may infringe upon the trade secrets of KNOC on SNS.
2. ② Directors and employees shall not damage the dignity of KNOC on SNS.
3. ③ Directors and employees shall not be engaged in any illegal activities, including the defamation of a third party, human rights infringement, personal information disclosure, or distribution of obscene materials on SNS.

Article 34 (Prohibition of Formation of Private Group)

Directors and employees shall not form a clique or private group related to kinship, regionalism, or school relations in the workplace.

Article 35 (Prohibition of Sexual Harassment)

Directors and employees shall not engage in any of the following activities causing sexual humiliation or sexual invitation among employees. <Revised on Mar. 4, 2020>

1. 1. physical attacks, including violence or injuries;
2. 2. attacking personalities continuously using insulting remarks, including abusive words;
3. 3. defaming continuously by distributing false information or specific facts;
4. 4. excessively intervening or interfering in the personal life or private matters of an invidiual;
5. 5. repeatedly instructing director or employee to do unnecessary or impossible work;
6. 6. instructing director or employee to carry out low-skill works not related to one’s ability or experience without reasonable causes or repeatedly excluding them from businesses without any good reasons;
7. 7. continuously and repeatedly alienating or harassing actively with a certain intention;
8. 8. other behaviors damaging the mental or physical health or disgracing directors and employees

Article 36 (Stabilization of Mutual Respect Culture)

Directors and employees shall respect and trust each other and shall not be engaged in any of the following activities infringing upon personalities or damaging the physical or mental health of other directors and employees. <Revised on Mar. 4, 2020>

1. 1. 폭행·상해 등 신체적으로 공격하는 행위
2. 2. 폭언 등 반복적으로 모욕적인 표현을 사용하여 인격을 침해하는 행위
3. 3. 반복적으로 특정 사실 또는 거짓된 정보를 유포하여 명예를 훼손하는 행위
4. 4. 개인의 사생활이나 사적인 일에 지나치게 개입하고 간섭하는 행위
5. 5. 업무상 불필요하거나 수행이 불가능한 일을 반복적으로 지시하는 행위
6. 6. 합리적인 이유 없이 능력이나 경험과 동떨어진 낮은 수준의 일을 지시하거나 정당한 이유 없이 지속적으로 업무에서 배제하는 행위
7. 7. 의도와 적극성을 가지고 지속적·반복적으로 소외시키거나 괴롭히는 행위
8. 8. 그 밖에 임직원의 신체적·정신적 건강을 훼손하거나 인격을 침해하는 행위

[Newly established on Sep. 5, 2018]

Chapter 6. Actions Against Infringement

Article 37 (Counseling on Infringement)

1. ① If a director or an employee is not sure whether unfair behaviors due to exerting authority, improper solicitation or requests, receipt of money or other valuables, receipt of honorarium for guest lectures, etc., notice on congratulation or condolence events, or unreasonable requests by a supervisory agency infringes this Code of Conducts, he/she can discuss with the Code of Conducts Officer. <Revised on Jun. 10, 2019>
2. ② The Chief Ethic Officer can take proper actions including the installation of exclusive lines or counseling centers for facilitating counseling in accordance with Clause ① above. <Revised on Jun. 10, 2016>

Article 38 (Report and Check on infringement)

1. ① Anyone who identifies infringement of Code of Conduct by a director or an employee can report it to Code of Conduct Officer, Chief Ethic Officer, Anti-Corruption and Civil Rights Commission, or supervisory agency, Board of Audit and Inspection or an investigation agency.
2. ② A reporter in accordance with Clause ① above shall notify the personal information of a reporter and an offender and information on the infringement using the method proving the infringement ,including Attachment Form 21, in writing or email.
3. ③ The Code of Conduct Officer checks the infringement case reported in accordance with Clause ① above and reports it to the Chief Ethic Officer with the explanation materials submitted by the relevant director or the employee.
4. ④ If it is considered to be a subject of penalty, or is subject to criminal discharge, the Code of Conduct Officer shall request the Head of the Legal Affairs Department to take a proper actions in accordance with laws. <Revised on Sep. 8, 2020>

[Wholly revised on Sep. 23, 2016]

Article 29 (Protection of a Reporter’s Status)

1. ① The Chief Ethic Officer and the Code of Conduct Officer shall secure the confidentiality of a reporter and the contents of the report in accordance with the provisions in Article 38 and prevent a reporter from being discriminated agianst or disadvantaged due to reporting. <Revised on Jun. 10, 2016>
2. ② Notwithstanding the provisions in Clause ① above, a reporter can request protective measures or relief from disadvantage to the Code of Conduct Officer, the Chief Ethic Officer or the Anti-Corruption and Civil Rights Commission in case of discrimination or disadvantages. In such a case, the Chief Ethic Officer and the Code of Conduct Officer shall take the proper actions against discrimination or disadvantages. <Revised on Jun. 10, 2016>
3. ③ If a director or an employee reports his/her own unfair behaviors in accordance with the provisions in Article 38, the disciplinary actions on the reporter can be alleviated or exempted.
4. ④ The provisions in Clause ① or ③ shall be applied to counseling or reporting in accordance with the Code of Conduct.

Article 40 (Code of Conduct Infringement Investigation Committee)

1. ① The Chief Ethic Officer can organize and operate an investigation committee if required for the fair investigation on the infringement of the Code of Conduct by a director or an employee.
2. ② The investigation committee in accordance with Clause ① above shall be composed of three committees. The committees shall be fairly appointed by reviewing the possible conflicts of interest. If required, an external expert can be appointed.
3. ③ The committees shall not interrupt reporting by a victim or force a victim to cancel reporting.
4. ④ The Code of Conduct Officer shall immediately report the investigation results to the Chief Ethic Officer after the completion of the investigation as well as to the reporter and the victim(s).
5. ⑤ The reporters and victim(s) can request an reinvestigation once within 7 days from the date of notice on the investigation results if they cannot accept the investigation results in accordance with Clause ④ above.
6. ⑥ In case of reinvestigation in accordance with Clause ⑤ above, the Code of ConductOfficer shall change the committees.
7. ⑦ Other matters related to organization and operation of the investigation committee shall be specified by the Chief Ethic Officer.

[Revised on Dec. 30, 2021]

Article 41 (Disciplinary Actions)

1. ① The Chief Ethic Officer shall take actions, including disciplinary actions, against a director or an employee infringing upon the Code of Conduct. <Revised on Jun. 10, 2016>
2. ② The kinds, procedures, and validity of disciplinary actions in accordance with the provisions in Clause ① above shall comply with the regulations of KNOC related to disciplinary actions. However, disciplinary actions can be increased if disadvantages are applied to a reporter, infringing Article 39. <Revised on Sep. 5, 2018>

Article 42 (Reporting and Handling of Prohibited Money and Other Valuables)

1. ① Directors and employees shall immediately report any of the following events to the Chief Ethic Officer using Attachment Form 22.
   1. 1. if a director or an employee receives prohibited money or other valuables or a promise ,or an intention of offering prohibited money and other valuables;
   2. 2. if a director or an employee recognizes that his/her spouse, linear dependent, or ascendant receives prohibited money and other valuables, or promise of, or an intention of offering prohibited money and other valuables.
2. ② If a director or an employee is subject to any of the events in Clause ① above, a director or an employee shall immediately return or notify the intention to reject the provider of money and other valuables (“provider” hereinafter) and those who promise or notify the intention to offer money and other valuables.
3. ③ If a director or an employee returns money and other valuables in accordance with Clause ② above, the director or the employee can request the expenses for the return to the Chief Ethic Officer using Attachment Form 17 with the evidentiary documents.
4. ④ A director or an employee shall transfer money and other valuables to return or make return in accordance with Clause ② to the Chief Ethic Officer in any of the following cases:
   1. 1. valuables to return can be destroyed, spoiled, or rotten;
   2. 2. a provider or a provider’s address is not known;
   3. 3. other reasons that valuables can’t be returned
5. ⑤ The Chief Ethic Officer shall take photo or videotape valuables right after receiving them in accordance with Clause ④ and manage them using Attachment Form 23. The valuables transferred shall be managed in accordance with any of the following measures unless otherwise specified in other regulations:
   1. 1. if it is identified that valuables are not prohibited money and valuables: return to a director or an employee that transferred to the Chief Ethic Officer
   2. 2. if it is identified as the prohibited money and other valuables and additional actions are required, including additional investigation, audits, examination, or disciplinary actions: submit to the relevant authority as evidentiary materials or keep until additional actions are completed;
   3. 3. if it is difficult to return, submit, or keep due to destruction, spoilage or decomposition in spite of the provisions in Paragraph 1 and 2 above: dispose with the consent of a director or an employee that transferred to the Chief Ethic Officer using Attachment Form 24;
   4. 4. money and other valuables can be donated to social welfare facilities or public organizations, accepted as revenue or handled in accordance with standards specified by the Chief Ethic Officer;
   5. 5. other standards specified by the Chief Ethic Officer.
6. ⑥ The Chief Ethic Officer shall manage money and valuables in accordance with Clause ⑤ using Attachment Form 25 and notify the handling results in accordance with Clause ⑤ to a director or an employee that transferred money and valuables.
7. ⑦ The Chief Ethic Officer shall come up with a compensation plan including benefits in the personal management or prizes for reporters on prohibited money and other valuables. <Revised on Sep. 5, 2018>

Article 42-2 (Reporting of Gifts from Foreign Governments)

1. ① When a director or an employee or his/her family member receives gifts from foreign governments or from foreigners (including organizations) related to his/her duties, the director or the employee shall immediately report and transfer the gift to the Chief Ethic Officer.
2. ② Gifts reported in accordance with Clause ① shall be sent to the National Treasury immediately after reporting them.

[Newly established on Sep. 23, 2016]

Chapter 7. Supplementary Provisions

Article 43 (Education)

1. ① The Chief Ethic Officer shall come up with and implement an education plan for directors and employees to comply with relevant rules and regulations, including anti-corruption and the Code of Conduct and document and manage the education results. <Revised on Jun. 10, 2019>
2. ② The head of Ethic Management Department and the head of Education Department shall implement education programs more than 4 times a year in accordance with the provisions in Clause ①. <Revised on Sep. 23, 2016>
3. ③ Directors and employees shall complete the integrity and ethic education programs for more than 2 hours once a year. New employees and those who are promoted shall conduct the offline education within 3 months from the date when the reasons for education are generated. <Revised on Sep. 5, 2018>
4. ④ The Chief Ethic Officer shall instruct those who receive disciplinary actions due to infringement of receipt of money, other valuables or entertainments to attend external integrity and ethic education. <Revised on June 10, 2016>
5. ⑤ Education in accordance with Clause ① shall include each of the followings <Revised on June 10, 2019>
   1. 1. matters on the prohibition or restriction of behaviors receiving entertainment, money, or other valuables related to duties;
   2. 2. matters on the prohibition or restriction of intervention in personal management or rights or interests, improper solicitation or request, or unfair behaviors using position;
   3. 3. matters to be complied by directors and employees to secure the sound climate of civil service, including fair personal management;
   4. 4. matters on reporting and handling procedure upon infringement on the Code of Conduct and protecton of reporters;
   5. 5. other matters required to keep the integrity of duties and the dignity of directors and employees and prevent corrupt behavior.

Article 43-2 (Integrity and Ethic Education in Overseas Offices)

Integrity and ethic education can be implemented for the directors and employees in overseas offices to expand ethical management culture in overseas offices, including the prevention of non-ethical behaviors. [Newly established on Oct. 31, 2013]

Article 44 (Responsibilities and Obligations of Code of Conduct Officer)

1. ① The Code of Conduct Officer shall not disclose confidential information acquired while performing businesses in accordance with the provisions in Clause 3, Article 2. <Revised on June 10, 2016>
2. ② The Code of Conduct Officer shall keep and manage the details of consulting the Code of Conduct using Attachment Form 26 and document and manage the matters related to counseling, receiving, and handling reports on infringements of the Code of Conduct using Attachment Form 27 and 28. <Revised on Jun. 10, 2016>
3. ③ The Code of Conduct Officer can hold the additional position of Anti-Graft Officer in accordance with Article 20, Improper Solicitation and Graft Act. <Newly established on Sep. 23, 2016>

Article 45 (Compliance Check)

1. ① The Code of Conduct Officer shall check the practices and the compliance status of the Code of Conduct by directors and employees.
2. ② The Code of Conduct Officer can frequently check the practice and compliance with the Code of Conduct by directors and employees in the period when corrupt behaviors can easily occur, including holiday seasons, or before and after national holidays in addition to regular check in accordance with the provisions in Clause ① above.
3. ③ The Code of Conduct Officer shall report the check results in accordance with the provisions in Clause ① and ② to the Chief Ethic Officer. <Revised on Jun. 10, 2016>

Article 46 (Rewards)

The Chief Ethic Officer can give benefits in personnel management or rewards for directors and employees who contribute to the practice and enhancement of the Code of Conduct. <Revised on Sep. 5, 2018>

Article 47 (Restriction of Re-employment in a Related Company, etc.)

1. ① Directors canTnot be employed in a related company after retirement. However, this Clause is not applied when the employment of a retired director does not infringe upon the Public Service Ethics Act.
2. ② Directors and employees shall not be engaged in behaviors to get improper rights and interests using the dominant position against a related party.

Article 48 (Operation of Code of Conducts)

The Chief Ethic Officer can establish and implement details required to operate the Code of Conduct. <Revised on Jun. 10, 2016>