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Ethical Management

N-iTUS is carrying out its promise after its CEO declared a code of ethics in 2022

1.Code of Ethics

We strive to become a company that is trusted and respected by all stakeholders (customers, shareholders, employees, and partner companies) through management activities that respect the order of free competition and the principles of fair competition and comply with laws and ethical standards.

1.Strictly comply with laws and company regulations

2.Companies exist to provide value that satisfies customers.

3.Shareholders are the owners of the company, and their trust is absolute.

4.Each employee is the company’s most important asset.

5.All executives and employees pursue transparent and fair work performance through compliance with ethical management.

6.Partners are the source of the company’s competitiveness and pursue joint growth through transparent and fair transactions.

7.As an important member of society, companies must grow in harmony with society.

2. Ethical Management Practical Pledge

We emphasize the company’s principles of ethical management by signing a pledge to practice ethical management for all executives and employees and strive to cultivate a sense of integrity and ethics among all members of the organization and strengthen the spirit of compliance with the law.

3. Guidelines for protecting those who report unethical behavior

We have stipulated guidelines to protect internal reporters of corruption related to employee ethics and compliance and are complying with relevant laws and regulations. In addition, we strive to protect reporters by maintaining confidentiality of internal corruption reporters and related information, and strictly prohibiting disadvantageous dispositions and retaliation.

Confirmed cases of corruption and related actions

Category2020 Year2021 Year2022 Year
Number of Corruption Incidents 000
Number of Actions000

Number of legal actions against unfair trade, including anti-competitive practices and monopolies

Category2020 Year2021 Year2022 Year

Total amount of fine (won)


Number of noon-monetary sanctions


Number of lawsuits filed


Code of Ethics

Regarding NItus’ code of ethics
You can check more details.

Ethical regulations​

Regarding NItus’ code of ethics
You can check more details.

Guidelines for protecting unethical behavior reporters

Reporter of NItus’ unethical behavior
Regarding protection guidelines
You can check more details.

fair trade

Fair competition/compliance with laws and regulations

Establish a fair and transparent corporate culture and maintain Nitus' core values ​​and management philosophy.
We are working to ensure that coexistence and sharing become established.

Policies and strategies related to fair competition/law compliance

We strive for shared growth with our partners, enact a shared growth policy to achieve coexistence and strengthen competitiveness, and establish five detailed plans.
We are working for shared growth. By 2022, all executives and employees will be given training to prevent workplace bullying, provide sexual harassment prevention training, and improve awareness of people with disabilities.
A total of four types of ethics and legal compliance training were provided, including personal information protection.

A new policy was introduced in 2023 to prohibit the purchase and use of internationally banned conflict minerals, and this policy will be implemented in the future.
We will strictly adhere to policy directions.

The company's efforts related to fair competition/law compliance

(what’s running)
· Enactment and announcement of shared growth policy
· Implementation of fair trade compliance program
· Completion of 100% legal education
· Establishment and announcement of code of ethics
· Adoption of ban on purchase/use of conflict minerals
· Adoption of the 10 principles of the United Nations Global Compact (UNGC)
· Enactment and announcement of the Human Rights Management Declaration

(To be improved)
· Use the standard subcontract contract recommended by the Fair Trade Commission
· Selection of partner companies and preparation of evaluation plan
· Regular meetings with partner companies
· Establishment of communication channels with partners (website)
· Early payment of delivery price to partner companies (Chuseok and Lunar New Year)


Stakeholder Participation

Stakeholder engagement reports on how the company communicates with executives, employees, partners, customers, shareholders, and local communities to identify risks and opportunities through communication with society.

Stakeholder’s Needs and Expectations

· Transparent management information disclosure and stable and sustainable growth
· Creating an environment where fair evaluation, compensation and mutual growth are possible
· Contribute to the country/Society through capacity development and continuous development

Stakeholder Participation

· Public Announcements, Various web and in-person meetings
· Visits, customer satisfaction surveys, participation in national projects etc

Major Issues Related to Stakeholders

· Efforts to generate continuous profits
· Efforts to maintain fair trade relationships and RoHS compliance
· Continuously collecting customer requirements and considering ways to respond

Board Composition

N-iTUS Co., Ltd. understands the needs and expectations of global stakeholders for establishing a transparent governance structure, and thereby secures core values of board operation such as expertise, independence, and transparency. In addition, we strictly comply with the operating regulations of the Board of Directors to carry out checks and surveillance functions and protect shareholders’ rights and interests and promote the continuous growth of N-iTUS through responsible management centered on the Board of Directors.

1. Board Composition

· N-iTUS board of Directors is composed of a total of 4 people in consideration of the efficiency of board operation and decision-making. 
· The board of directors is appointed after comprehensive review of independence/expertise/diversity, and does not discriminate based on gender, race, religion, politics, culture, etc.

2. Board of Directors Management

. Performs a management supervision function through cool-headed evaluation and active expression of opinions on management issues important to the company’s operation or management’s execution of duties.
. The board of directors’ searches for new growth engines and development plans from a macroscopic perspective, and the management focuses on specialized roles such as product development and strategy establishment, dividing roles in major management matters.

3. Appointment of Board of Directors Chairman

. Board of Directors Regulations: Internal directors, including the CEO, may be appointed as chairman of the board of directors.
.  In addition to the CEO, a separate committee is formed to enhance responsible management and transparency of board operations.
.The Chairman of the Board of Directors leads the deliberation and resolution of matters approved at the general shareholders’ meeting, financial statement approval, revision of the Articles of Incorporation, capital raising, and the company’s major business.

4. Board expertise, Independence and Diversity

N-iTUS recognizes the needs and expectations of stakeholders for transparent governance, and strives to secure the core values of expertise, independence, and transparency in board operation through the operation of committees under the board of directors and a transparent director selection process.

· To secure management expertise and efficiency,  internal directors are composed of excellent personnel with specialized knowledge and experience.
· Currently, two executive directors have expertise in the fields of management/accounting, policy/administration, research/development, and law.
· In the case of transactions that may result in a conflict of interest between the director and the company, the board of directors must thoroughly review and approve the transaction before commencing the transaction