B&Korea Co., Ltd. Declares Commitment to Co-Prosperity and Compliance Management

B&Korea Co., Ltd., a specialist in cosmetics ODM/OEM, has announced its commitment to co-prosperity and compliance management in collaboration with key partners and aims to establish a transparent management system comparable to that of listed companies.

On the 24th, B&Korea held a 'Co-Prosperity and Compliance Management Declaration Ceremony' with representatives from major partners, including raw material suppliers, production contractors, and logistics companies.

This event was organized to share compliance management principles with partners, aligning with the company’s growth and expansion in transaction volume, and to establish a foundation for fair trading and long-term mutual growth.

During the ceremony, B&Korea and the participating partners committed to shared practices including compliance with relevant laws and contractual conditions, establishment of a fair and transparent trading order, prohibition of unreasonable demands and unfair trading practices, reinforcement of quality and safety management, and fostering a collaborative culture based on mutual respect.

B&Korea plans to enhance the objectivity and transparency of core trading processes, such as partner selection, contract agreement, transaction conditions, and payment processes, while also reinforcing communication systems to address partners' difficulties and improvement suggestions.

Partners, in turn, pledged to contribute to building a sustainable supply chain by adhering to quality and delivery deadlines, creating a safe working environment, and complying with relevant laws and ethical standards.

This declaration serves as a basis for simultaneously advancing internal compliance management and governance structures. The company intends to strengthen internal controls over significant transactions and fund disbursements while establishing an independent and transparent decision-making system guided by the board of directors, thus proactively building a level of management transparency and accountability expected of listed companies.

Ham Bong-chun, CEO of B&Korea, remarked, “The cosmetics ODM business is an industry that grows based on close collaboration with diverse partners. We recognize our partners as business counterparts for mutual growth and are committed to creating a fair and transparent trading environment. Through this declaration, we will ensure that the principles of co-prosperity and compliance management are operational in actual transactions and management processes, and we will continuously check our progress to establish a level of internal control and transparent management in line with listed companies.”