Siemens funds ‘Fair Player Club’, new anti-corruption project in Korea

SEOUL--(Korea Newswire)--A powerhouse in electrical engineering and electronics, with innovative environmental technology and sound business management, Siemens Ltd. Seoul (SLS) said that the Siemens Integrity Initiative of Siemens AG has funded a new anti-corruption project called “Fair Player Club” in cooperation with GCNK (Global Compact Network Korea) and GCEF (Global Competitiveness Empowerment Forum).

Fair Player Club is funded as part of the Siemens Integrity Initiative by Siemens AG (www.siemens.com/integrity-initiative) with about KRW 1 billion (about USD 0.9M) from 2015 for 3 years, as the project in South Korea. In total 25 anti-corruption projects around the world were selected out of more than 180 project proposals from well-known non-profit organizations from about 60 countries on the 2nd funding round. Fair Player Club is hosted by Global Compact Network Korea (GCNK), organized by Global Competitiveness Empowerment Forum (GCEF), and endorsed by the Ministry of Trade, Industry & Energy (MOTIE) with Siemens Integrity Initiative. With total funding of more than US$100 million, the Siemens Integrity Initiative constitutes one element of the July 2009 settlement between Siemens and the World Bank and the March 2013 settlement between Siemens and the European Investment Bank (EIB).

Fair Player Club will aim to disseminate the importance of fair and just competition to all market players to comply with the rule of law through compliance and business ethics, by implementing various field-based activities, such as education & training, research, and other anti-corruption awareness raising programs with consideration of industry, region and country environment.

The launching ceremony for Fair Player Club, a public-private sector platform to promote compliance and business ethics was held at Conrad Seoul on 19 May 2015, with Sabine Zindera, Head of Siemens Integrity Initiative and Vice President of Siemens AG, in the presence of JongKap Kim, Chairman & CEO of Siemens Ltd. Seoul, KwanSup Lee, Vice Minister of Ministry of Trade, Industry & Energy (MOTIE), JinYoung Kwak, Vice Chairperson of Anti-Corruption and Civil Rights Commission (ACRC), and Georg Kell, Executive Director of UN Global Compact Headquarters in US.

Sabine Zindera, Head of Siemens Integrity Initiative, explained the importance of this launch by saying, “Fair Player Club will become a powerful milestone to further develop Collective Action for anti-corruption, which Siemens Ltd. Seoul has been endeavored in South Korea by engaging with government, business and civil society.”

JongKap Kim, Chairman and CEO of Siemens Ltd. Seoul, added “For the next three years we will fund the Fair Player Club in accordance with Siemens’ commitment to sustaining interest in generating and supporting a clean and fair business environment across industries. I hope that our persistent efforts to eliminate corruption and promote compliance will help to advance the nation’s business ethics.”

This is the second funding of an anti-corruption project by the Siemens Integrity Initiative following the Northeast Asia Business Integrity School (NABIS) program, conducted over a 3-year period from 2011 to 2014.

Website: http://www.siemens.co.kr

This is a news release distributed by Korea Newswire on behalf of this company.