Preparing
Risk-Management System
The risk-management system of KCC GLASS is managed by respective departments that conduct analyses and monitoring optimized for each type of risk. KCC GLASS classifies risks into financial and non-financial risks, which are managed by the Internal Accounting Management Organization, the Internal Audit Organization, and the ESG Management Team. The detailed risk management process is as follows.
Internal Accounting Management Organization
Recognizing the importance of the internal accounting management system to ensure transparency and reliability of accounting information, KCC GLASS established a dedicated internal accounting organization and completely redesigned the internal audit process. Responsibilities for ethical values are stipulated by applying the best standards for the internal accounting management system and internal controls are designed and executed in a way to ensure proper implementation of internal audit. In addition, internal accounting management system is evaluated on a regular basis and reported to the Board of Directors and the Audit Committee. The Audit Committee performs evaluation and supervision of the report.
Internal Audit Organization
KCC GLASS responds to business risks through internal audits. Each month, company checks financial and non financial risks that may occur in sales, production, purchase, and management, and establishes countermeasures in consultation with the persons in charge to prevent any recurrence.
ESG Management Team
To lay the foundation for sustainable value creation, KCC GLASS established the ESG Management Team dedicated to handling all ESG related matters. Within the ESG Management Team, persons in charge of the respective areas of environment (E), society (S), and governance (G) help ensure socially responsible management across all areas. The company’s performance in ESG activities is evaluated based on the ISO26000 standard, the international standard for corporate social responsibility, and then potential risks are identified for further development of countermeasures and strategic implementation.