Korea Fair Trade Commission Assigns Compliance Program Rating of "A" to Yuyu Pharma
SEOUL, South Korea, Jan. 11, 2021 /PRNewswire/ -- Yuyu Pharma (CEO Robert Wonsang Yu, KRX: 000220) received Compliance Program (CP) Rating of "A" from the Korea Fair Trade Commission (FTC).
Yuyu Pharma (Yuyu) established its CP team in 2016 with the help of the law firm Kim & Chang. The CP team conducts compliance monitoring in all departments and training of employees on a regular basis. Yuyu's assignment of an "A" rating in its first evaluation is the result of Yuyu's continuous efforts to strengthen its compliance program.
The FTC assigns CP rating to companies by examining 17 indicators and 54 detailed metrics across 7 different evaluation criteria. Such criteria include establishment and operation of compliance programs, support by top management, self-compliance manuals, education and training programs, monitoring systems, sanction and incentive systems, and program effectiveness. The complete span of best- and worst-case ratings ranges from 'AAA' to 'D'.
CEO Robert Yu said "compliance and ethical management is essential in today's international business. We are pleased that the Korea FTC assigned an 'A' rating and we will continue to strengthen our compliance to meet global standards."
As a follow up step, Yuyu Pharma is expected to obtain ISO 37001 Anti-bribery management systems certification in 2021. ISO 37001 is designed to help companies prevent, detect, and respond to bribery while complying with anti-bribery laws.
About Yuyu Pharma
Yuyu Pharma (KRX: 000220) is a Korean pharmaceutical company founded in 1941 that manufactures and distributes pharmaceutical products, medical devices, and food supplements. The company is also committed to developing innovative therapeutics in the areas of Neurology, Urology, and Ophthalmology. Yuyu's Mission is to improve the quality of life and enhance well-being for all individuals by developing innovative healthcare products and services.
Sean Yoon, email@example.com
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SOURCE Yuyu Pharma
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