SUWON — Gyeonggi Housing & Urban Development Corporation (GH) has earned international recognition for its compliance management system.
GH said on the 16th that it received ISO 37301 certification, the international standard for compliance management systems, from the Korean Standards Association (KSA).
The certification covers the development and management of urban development projects. It verifies that GH maintains and operates a legal compliance framework across the entire process of residential land development and urban development projects, from planning and execution to post-completion management.
The certificate presentation ceremony was held the same day at GH headquarters in Suwon. GH President Kim Yong-jin, Vice President Lee Jong-sun and KSA Chairman Moon Dong-min attended the event.
ISO 37301 is a compliance management system standard established by the International Organization for Standardization in 2021. It is awarded after an assessment of whether an organization has identified applicable laws and internal rules in advance and built a system to prevent and manage the risk of violations.
GH has pursued step-by-step institutional improvements to strengthen its compliance foundation. In July this year, it introduced a contract legal review system that screens legal risks before contracts and agreements are signed. In August, it declared a compliance management policy under the CEO's name, spelling out principles for legal compliance, the handling of violations and the protection of whistleblowers.
The certification followed an on-site assessment by the KSA in September. GH plans to use the certification as a basis for preemptively managing legal and regulatory risks across its urban development projects.
"We will further strengthen our compliance management on the strength of this certification," GH President Kim said. "We will become a public corporation trusted by Gyeonggi Province residents through transparent and responsible management."