The Hyundai Motor Group has said that it is to embark on a group-wide anti-corruption campaign. The ambitious company hopes to become one of the world’s top-five automakers and as part of that strategy wants to eradicate corrupt practices – a widespread problem in Korean business.
“Hyundai Motor and Kia Motors have decided to launch a massive fight against all kinds of corruptions in all their business activities, including procurements,” said the carmakers in a press release.
“While seeking to promote open and electronic bidding, Hyundai and KIA will punish all employees involved in any type of ethical misconduct, such as acceptance of kickbacks and tainted money from clients and parts suppliers.”
The Hyundai Motor Group companies have also sent a letter to their 2,500 or more parts suppliers, asking them to sign-on to Hyundai’s anti-corruption campaign.
