Alvogen Korea said that it has acquired the ISO37001, an anti-bribery management systems certification, from the Korea Compliance Certification Assurance (KCCA). The company added it received the certification in the shortest period among firms that have applied.

Alvogen Korea CEO Lee Jun-soo (left) and Korea Compliance Certification Assurance Director Lee Won-ki holds up the ISO37001 certification at Alvogen Korea headquarters in Yeouido, Seoul, on Monday.

ISO 37001 is an anti-corruption management system established by the International Organization for Standardization (ISO), which involves 162 countries.

The certification requires expertise to identify, control, and manage corruption risks proactively. The KCCA grants the designation only after a fair and rigorous screening to confirms an applicant meets eight or more requirements, such as anti-corruption and fair trade within the organization, according to Alvogen Korea.

The company has been operating a similar system internally to prepare to receive the ISO 37001 led by its internal compliance and audit division since November 2019,

As part of such efforts, it established a comprehensive system for anti-corruption management by, for instance, setting up anti-corruption policies and goals, diagnosing and evaluating internal and external corruption risks, fostering internal auditors, conducting anti-corruption training, compliance pledges from employees and partners, and carrying out internal audit and monitoring.

“As a pharmaceutical company and corporate citizen that strives to improve the quality of life of patients, transparent and ethical management is a value that must be observed,” Alvogen Korea CEO Lee Jun-soo said. “We will make continuous efforts to practice the ethical management of all employees.”

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