In KOLON INDUSTRIES we believe that our ethical responsibility for the community
and customers is as important as carrying out a profitable business based on the
corporate philosophy that all business activities should be right and corresponding
with the public good as well. 1. Our responsibility and obligations for customers

1-1	Our basic attitude toward customers shall be that what is good for customers is good for us.
1-2	We shall always think from the viewpoint of customers, respect their opinions to the best we can, and keep promises made with them.
1-3	e shall do our best to be valued and trusted by customers through provision of good-quality products and services.

2. Compliance with laws and fair competition

2-1	In carrying out business activities, we shall observe all laws and regulations of all relevant countries and respect local customs and cultures of all countries and communities.
2-2	We shall play a leading role in the establishment of the sound market order and engage in free and fair competitions in the market, respecting rivals.

3. Fair business transactions

3-1	We shall carry out all business transactions in a way that guarantees fair and equal participation of all parties in accordance with the free competition principle.
3-2	We shall not give instructions or exercise influence in an unethical and improper way by manipulating our position.
3-3	We shall make effort for joint development with all transaction parties through the establishment of transparency in all transactions based on mutual trust.

4. Respect for shareholders

4-1	We shall strive to protect the shareholder value by realizing solid profit through sound business operations.
4-2	We shall disclose corporate information transparently to shareholders in accordance with relevant laws and regulations to maintain mutual trust relations with them. We shall strictly observe relevant laws and regulations in the processing of, and making reports concerning, accounting materials.

5. Responsibility and obligations for the State and the community

5-1	Contribution to the State and the community (1) We shall faithfully carry out the roles and obligations as components of the State and the community. (2) We shall contribute to national development through creation of jobs and faithful payment of taxes and dues as well as contributing to social service activities and cultural development.
5-2	Environmental protection and industrial safety (1) In carrying out business activities, we shall put the need for environmental protection first and strictly observe local environmental regulations and standards. (2) We shall do our best to prevent disasters and risks by strictly observing relevant industrial safety regulations and standards.
5-3	Political activities (1) We shall not involve ourselves in politics, other than to express our positions on policies or enactment of laws and regulations that appear to affect the interest of the Company. (2) Political rights and views of individual employees will be guaranteed under the Constitution. However, employees shall take care not to have their individual political views misunderstood as those of the Company.

6. Responsibilities for employees

6-1	The Company will respect individual employees's personality and thoughts and not discriminate against an employee in relation to others due to his/her gender, academic background or where he/she is from in provision of opportunities to enhance employees's abilities or skills.
6-2	The Company will make fair appraisal of employees based on their ability and performance and make fair compensation based on such appraisal.
6-3	The Company will do its best to foster working conditions in which employees can display their creative and other abilities in the best possible way.

7. Basic ethics to be observed by employees

7-1	Honesty, honor and decency (1) We shall be proud of being employees of KOLON, and always maintain honest and faithful attitudes. (2) We shall keep a proper level of etiquette, use decent language and value honor as KOLON employees.
7-2	Business behavior (1) We shall share the management philosophy, objectives and values of the Company and faithfully carry out individual duties under the guideline of the Company as employees of the Company. (2) We shall not seek private interest using our positions as Company employees, nor shall we be engaged in an act that may hamper the interest of customer, shareholders, subcontractors or colleagues. 1. We shall not offer or accept money, entertainment or convenience to or from interested parties not in accord with ethical business procedure. 2. We shall obtain a record, or report all business information in a fair way. We shall draw up and report all business documents correctly and honestly. 3. We shall not acquire unjust equity stakes in a company we do business with as company employees. 4. We shall maintain a proper level of transparency and fair transaction order in doing business with subcontractors. 5. We shall use Company information or assets only for fair business activities and purposes approved by the Management and not use them for a personal purpose or profit.
7-3	Concerning basic norms for carrying out individual duties or self-development, sound organizational culture, respect for intellectual property or outside activities not stated in this Ethical Code of Conduct, we shall follow what is stipulated in a separate guideline.

8. Compliance with ethical code of conduct

8-1	Honesty, honor and decency All KOLON employees, regardless of their position, shall faithfully observe this Ethical Code of Conduct, recognizing that an act committed in violation of this Code of Conduct is subjected to punitive measures in accordance with relevant regulations.
8-2	Employees forced to commit an act in violation of this Code of Conduct or witnessing or knowing such shall report and consult with each company's relevant audit office or executive office of the audit committee (Ethics management team). The audit office or committee shall take all necessary measures to protect such a reporting party.