Hanwha Defense CEO Son Jae-il, right, poses with Lee Il-hyeong, Korea development manager of Lloyd Register, after the ISO 37301, the highest international standard for compliance management, is awarded to Hanwha Defense at the head office of the company in Seoul on Nov. 10. Photo courtesy of Hanwha Defense

Certification for compliance management system given to defense giant

Hanwha Defense announced on Nov. 11 that it had won the ISO 37301 certification, which is about high standards of compliance and integrity.

It marks the first time for a South Korean defense company to receive the highest international standard for compliance management adopted by the international rule-setting entity this year.

The ISO 37301 is based on traditional ISO standards together with other international agencies’ guidelines, including those from the International Chamber of Commerce, OECD, and UN.

Certified by British Lloyd Register, the ISO 37301 proves that Hanwha Defense adheres to global standards of compliance and business ethics enough to prevent any compliance risks, according to the company.

Hanwha said that the certification represents its high level of integrity and credibility in pursuing defense businesses with global customers.

“The ISO 37301 certification is the result of Hanwha Defense’s strenuous efforts to strengthen its compliance programs meeting the global standards for the past years, and now we’ve proved Hanwha Defense has the highest level of compliance management systems and procedures,” Hanwha Defense CEO Son Jae-il said.

“Looking further, we will take more active measures to ingrain compliance into the work culture more fundamentally to be positioned as a global defense firm gaining customer trust and confidence.”

The Seoul-based company said that it had run a series of programs related to workplace ethics and compliance, like the compliance index evaluations for management and the compliance week.

The company is affiliated with Hanwha Group, the No. 7 conglomerate in South Korea.