What are the obligations for businesses to have internal policies and procedures to combat bribery and corruption?

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In South Korea, businesses are subject to obligations to establish internal policies and procedures to combat bribery and corruption. These obligations are designed to promote ethical business conduct, prevent corrupt…

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Are companies required to perform due diligence on third parties, agents, or intermediaries to prevent bribery?

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Yes, companies in South Korea are strongly encouraged and often required to perform due diligence on third parties, agents, or intermediaries as part of their efforts to prevent bribery and…

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How is international cooperation approached in anti-bribery and corruption matters? Are there any notable treaties or agreements in place?

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South Korea places significant importance on international cooperation in combating bribery and corruption and actively engages in various initiatives and agreements to address these issues on a global scale. Notable…

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What protections are in place for whistleblowers who report acts of bribery and corruption?

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South Korea has implemented protections for whistleblowers who report acts of bribery and corruption to encourage individuals to come forward with information about such misconduct. These protections are designed to…

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How are gifts, hospitality, and expenses managed in the context of anti-bribery and corruption policies?

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South Korea has specific regulations and guidelines governing the handling of gifts, hospitality, and expenses in the context of anti-bribery and corruption. These regulations are designed to prevent corrupt practices…

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