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Ethics Code

NAVER Business Conduct Guiderlines

The contents herein are translation of the Korean version of NAVER Business Conduct Guidelines.

Chapter I. Purpose

"NAVER Business Conduct Guidelines" is purposed to provide accurate comprehension and guideline for any action or judgment occurring while employees of NAVER Corporation (hereafter referred to as "the company") perform their work.

※ This "NAVER Business Conduct Guidelines" provides the basic guideline for the company employees to hold responsibility as the representatives of the company to judge and take action honestly by respecting the thoughts and the judgment on the part of company employees to the maximum extent.

Employees of NAVER have the obligation to read and understand "NAVER Business Conduct Guidelines" and to obey the contents and spirit of the guideline. Not knowing the "NAVER Business Conduct Guidelines" will exempt you from the responsibility.

In addition, employees of NAVER have the obligation to ask advice of or report to the NAVER Corporate Ethics Counseling Center for any breach of guidelines or any matter of concern. All matters regarding the counseling or report will be protected as a private factor in any case.

Most important factor in putting Business Conduct guidelines in to practice is to seek NAVER Corporate Ethics Counseling Center for any advice on ambiguous situations.

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Chapter II. Avoiding Conflict of Interest with the Company

NAVER employees will perform work by clearly separating work with private life, will not make any actions or relationship that will conflict the interest of the company while conducting private activities or relationship, and will consult NAVER Corporate Ethics Counseling Center in any case where it may provoke conflict.

A. Fair and transparent work performance

NAVER employees will not use the company name, position, or authority for the interest of personal reasons or the third parties’.

All partners will be guaranteed of rational terms and transparent work performance on bidding, contract and contract execution related outsourcing or purchase, and will not be discriminated or preferred based on region, blood ties, schools, religion or gender.

In case the superior makes a direction hampering fair work performance for own or third party's interest, the subordinate may request for a probably cause and not follow such instruction.

  1. A) Any continuance of instruction despite non-fulfillment following reasons stated above shall be immediately reported to the head of the department and to NAVER Corporate Ethics Counseling Center.
  2. B) If necessary after being reported, the head of the department may direct appropriate measurement such including withdrawal or amendment of instructions.
B. Goods and presents

For any reasons, NAVER employees will not provide or receive goods and presents directly and indirectly from interested party of customers and partners, and will not request, promote, silence, or permit third party to influence such parties.
In any case where receiving of good or present was unavoidable, fill out and submit the "Report upon Receiving".

C. Treats and benefits

NAVER employees will not receive any treats or benefits, which exceed the socially acceptable level, interested party of customers and partners and shall actively avoid or restrict them.
Nevertheless, in any case where receiving of treats or benefits was unavoidable, fill out and submit the "Report upon Receiving".

D. Two jobs and side jobs

NAVER employees shall not hold additional positions, side jobs or work, which undermines work performance.

However, in case of holding additional positions, side jobs or position for inevitable reasons, the employee may do so after reporting to NAVER Corporate Ethics Counseling Center and upon receiving approval of the company.

E. Invited Lecture

Payment for an invited lecture, which is delivered with regard to work or during work hours, shall not be made since it is a profit generated while performing work itself and a host of an invited lecture shall be informed of such a fact in advance.

However, in any case where a lecture fee must be inevitably paid, its amount shall not exceed the level generally applied by the host and such a fee shall be used for the public good through consultation with social contribution team in the form of talent donation such as donating to affiliated groups.

In the case of a visited lecture delivered on a regular basis, seek advice from NAVER Corporate Ethics Counseling even if such a lecture has no direct relevance to job performance since it may fall into the category of additional positions, side jobs or work.

F. Private investment deals

In performing work, in any case where it may impact own or other employees' judgment or action, NAVER employees shall not make financial transaction including loan, investment, property acquisition, guarantee, lease with a partner of the company.

NAVER employees shall not invest or make financial transaction in relations with the company's purchase of real estate or securities, and shall not provide information of such to a third party.

NAVER employees shall keep in mind and take full knowledge of the fact that company possess separate guidelines for employees' share acquisition, and when in doubt of conflict of interest with the company, consult NAVER Corporate Ethics Counseling Center.

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Chapter III. Protection of NAVER’s Asset and Information

A. Use of company asset

The company shall provide optimal work environment needed to perform work effectively and favorably, NAVER employees shall make efforts to not waste or misuse company's asset following one's self regulating judgment. The company's asset not only includes company's equipments, furnishing, hardware and software, inside information, services and brand but also employees' work hours and work results.

  1. 1) NAVER employees shall not use company's assets outside one's authority or provide them to third party without company's approval.
  2. 2) NAVER employees shall not transfer or lease the company's asset to oneself or to third party for low price and shall not purchase or loan own or third party's property for high price.
  3. 3) In any case or possibility of bringing critical loss to the company, NAVER employees shall immediately report to NAVER Corporate Ethics Counseling Center and take appropriate measures to minimize the loss.
  4. 4) NAVER employees shall not cause any financial loss to the company by using company's budget without prior approval or by using it for outside work purposes.
B. Information protection

Unless deemed must, employees shall not share closed information with any outsider and shall share closed information after a rightful approval procedure even with an insider.
Closed information is any information regarding the financial or technical data, business plans, new services, marketing, employee information, or client and partner information unknown or not accessible to anyone outside work.

  1. 1) Unless necessary for the purpose of work or with an establishment of rightful counter measurements to prevent the abuse of information, NAVER employees shall not provide closed information to anyone outside the company. Providing of closed information to anyone including family and friends may be a violation of law.
  2. 2) Closed information shall be rightfully preserved or discarded following the company's document management policies. When leaving the company, the employee shall not possess the original copy or a duplicate of the information and shall not disclose information without company's prior approval or authorization.
  3. 3) When managing company's client information, NAVER employees will thoroughly comply with NAVER services' personal information protection policies and will not provide them to third party violating the related laws or regulations.
  4. 4) NAVER employees will respectfully manage and protect other company's closed information as its own and do not wrongfully acquire or utilize other's closed information even if the information can be useful. For any inquiry regarding the acquisition or use of other company's closed information, seek advice from NAVER Corporate Ethics Counseling Center.
  5. 5) NAVER employees shall seek advice from NAVER Information Protection team for other information.
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Chapter IV. Forming Sound Company Culture

The company needs to maintain cooperative working environment allowing the employees to display maximum amount of creativeness and potential to mature with the company growth. In order to achieve such, employees have to form a company culture respecting each other without allowing any prejudice or discrimination.

The company strictly restricts prejudice or discrimination between one another for any reasons based on race, religion, region, gender, childbirth and care, marital status, or physical condition and seeks advices at NAVER Corporate Ethics Counseling Center in time of acknowledging or experiencing prejudice or discrimination of such.

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Chapter V. Term Definitions

A. Socially acceptable level
Socially acceptable level refer to the level which does not impact fair treatment of work which may be acceptable to other employees or anyone with sound level of common sense.
B. Goods
Goods refer to cash, securities including gift cards or membership, cultural and sport event tickets, and any goods with economical value.
C. Treats
Treats refer to any actions to take responsibility or pressure one side to take care of the expenses from meals, drinks, sports or entertainment with partners.
D. Benefits
Providing or accepting ways necessary for personal use such as accommodation, transportation, tours or support for invitation excluding that of goods or treats.
E. Compensational
Providing of goods, treats, or benefit with expression or implication of conditional consideration of economic value.
F. Employees
Employees refer to all employees of NAVER including the executives, exempt and non-exempt employees.
G. Relatives
Relatives include relatives on cousins from both side of the parents and from spouse.
H. Partners
Partners refer to individuals belonging to group or company who wishes to engage in or already have transaction or business relationship with the company and also include business partners and cooperations.
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