Compliance, Ethics and Risk Management
Commitment
As a global corporate citizen, Noul recognizes compliance with the applicable laws and international norms of every country in which it operates as the foremost requirement for legitimate management activities. Beyond compliance, Noul believes that embedding ethical management practices across organizational operations is a core foundation for building stakeholder trust and strengthening the company's long-term competitiveness.
Noul's diagnostic testing solutions can directly affect the diagnosis and treatment of countless patients around the world. With this sense of responsibility, Noul continues to strengthen its quality management system based on international standards in order to provide customers with safe and reliable products and services.
In addition, Noul respects and practices international human rights and labor norms, including the Universal Declaration of Human Rights (UDHR), the United Nations Global Compact (UNGC) and International Labour Organization (ILO) conventions. Through this, Noul aims to promote respect for human rights and occupational health and safety across its employees and value chain, while systematically managing management risks that may arise in the course of business operations.
Approach
Establish and advance a compliance risk management system, and embed ethical management practices throughout the organization based on the Code of Conduct.
Apply a non-discrimination policy to all recruitment and employment activities, and strengthen institutional foundations for protecting employee rights and creating a fair work environment.
Gradually advance the occupational health and safety management system to prevent industrial accidents and establish occupational health and safety management, and spread a participation-based safety culture throughout the organization.
Secure and continuously strengthen a quality management system aligned with international standards, and gradually establish procedures for collecting customer feedback and a supply chain management process.
Monitoring Metrics
Work Ethic Training
completion rate
Ethics Pledge Employee
signature rate
Number of ethics standard violation cases
Grievances received 5 cases, actions completed 5 cases
Grievance types : occupational health and safety 2 cases, human rights 1 case, company life 1 case, organizational culture 1 case
Average female employee wage ratio (compared with male employees)
Average female middle
leadership wage ratio
(compared with male middle leadership)
Industrial accident rate
Lost time injury (LTI) cases
Percentage of workers covered
by occupational health and
safety management system
Percentage of products subject to safety evaluation
Product recall cases
Customer complaint corrective action completion rate
Progress
Compliance and Ethics
In 2025, Noul established a compliance risk management procedure and a risk assessment plan to enhance transparency in corporate management and proactively manage legal and ethical risks that may arise across management activities. This procedure aims to establish a standardized end-to-end process covering risk identification, assessment, control and monitoring, going beyond simple legal compliance. In particular, Noul established a company-wide management system centered on the dedicated compliance organization, laying the foundation to systematically respond to changes in domestic and international regulatory environments, including medical device regulations and personal data protection. In accordance with the established procedure, Noul carried out the following risk assessment and control activities in 2025.
Key Risk Management Activities in 2025
- • Identified major laws related to business models and product lines and updated the list of laws and regulations to reflect changes in the regulatory environment
- • Classified risks as high, medium or low based on likelihood and severity, and set management priorities
- • Established control measures, including process improvements, supplementation of internal guidelines and training for responsible personnel, mainly in high-risk areas, and operated a phased management system
Through risk assessment and control activities in 2025, Noul established the institutional foundation for compliance management. However, as the system is still in its early stage of implementation, Noul confirmed there is room for improvement in terms of the continuity of the always-on monitoring system. To address this, Noul plans to strengthen its always-on monitoring system from 2026 so that changes in laws and the regulatory environment can be reflected more quickly. Furthermore, Noul will continue improving compliance risk management so that it becomes established as an ongoing management system embedded in everyday work processes rather than a one-off activity.
Noul operates various training programs and participatory campaigns to embed compliance awareness across the organization and foster a culture of voluntary ethical practice. In 2025, Noul conducted a compliance awareness survey to systematically diagnose employees' level of compliance awareness and build consensus around a culture of ethical practice. It also ran an internal compliance campaign linked to International Anti-Corruption Day to spread the importance of compliance management throughout the organization.
(1) Conducting and sharing the results of a customized compliance awareness survey
To understand employees' level of compliance awareness, Noul conducted a survey across four areas: awareness and attitude, willingness to practice, trust in the system and departmental effectiveness. The survey consisted of 28 questions designed in-house to reflect Noul's business characteristics, and 83.5% of all employees participated. The survey results were shared at a company-wide town hall. Based on the analysis, Noul identified strengths and improvement areas in the organization's compliance capabilities and reflected them in follow-up training and institutional improvement directions.
(2) Compliance campaign commemorating "International Anti-Corruption Day"
Based on the survey results, Noul conducted a participatory compliance campaign to increase employee participation and empathy. During the week of International Anti-Corruption Day, quizzes and events on a new legal topic each day were held to help employees understand compliance issues more easily and naturally.
(3) Operation of job-linked professional training programs
Noul operates job-linked professional training to strengthen compliance capabilities closely related to job performance. In August 2025, Noul conducted company-wide training on the prevention of violations of the Unfair Competition Prevention Act and protection of trade secrets. In January 2026, during "Work Ethic Training Week," company-wide training was held on the protection of intellectual property (IP) and medical device advertising regulations. In April, Noul also added a legal session to its internal training program and provided advanced IP-related training to help employees strengthen practical, work-centered compliance capabilities. Going forward, Noul plans to expand customized guidelines and training programs that reflect the characteristics of each department's work so that employees can effectively apply compliance standards in actual work processes.
Training Results
| Training Topic | Training Target | Participants Completed | Completion Rate | Schedule |
|---|---|---|---|---|
| Basic understanding of intellectual property rights | Management and all employees | 98 | 87.5% | 2026.01. |
| Basic understanding of medical device advertising regulations | Management and all employees | 98 | 87.5% | 2026.01. |
| Anti-corruption training | Management and all employees (voluntary participation) | 60 | 46.2% | 2025.12. |
| Training introducing general legal principles and actual cases related to medical device advertising regulations | Management and all employees | 114 | 86% | 2025.01. |
| Training on the employee invention compensation system, legal review procedures and points to note when drafting contracts | Management and all employees | 114 | 86% | 2025.01. |
Noul applies a zero-tolerance principle to compliance violations and manages cases transparently and systematically according to standardized handling procedures. By clearly defining responsibilities and roles at each stage, from report receipt to investigation, action and follow-up management, Noul ensures objectivity and professionalism in the investigation process.
Any employee may report ethical or legal violations, including misconduct, workplace harassment, sexual harassment and abuse of authority, at any time through the internal reporting channel. Noul manages reports under strict confidentiality in accordance with the principle of confidentiality, and institutionally protects reporters from any personnel disadvantage or discrimination.
When a compliance violation is reported, an initial review is conducted to determine whether it constitutes a compliance violation. For cases classified for investigation, facts are confirmed through interviews with relevant parties and review of related materials. Depending on the nature and complexity of the case, Noul refers to the opinions of external experts to ensure fairness of judgment. If a violation is confirmed, Noul requests improvements or implements personnel measures in accordance with the Rules of Employment, depending on the severity of the matter.
After case handling, Noul analyzes the case and conducts training and improvement activities to prevent similar risks. It also manages risks through ad hoc and regular monitoring to prevent recurrence of the same issue. Based on this systematic management and prevention activities, no compliance violation cases occurred in 2025. Noul will continue systematic management activities to proactively block the possibility of violations and prevent recurrence, and will make ongoing efforts to ensure that compliance becomes deeply embedded in the organizational culture.
Compliance Violation Handling Process
| Step 1 Reporting and Receipt | Step 2 Understanding the Content | Step 3 Fact-Finding Investigation | Step 4 Action | Step 5 Follow-up Management |
|---|---|---|---|---|
| Management in charge of HR and compliance, HR organization leader | Confirm report content Decide whether to investigate | Investigate facts Seek expert opinions | Decide action method | Recurrence prevention measures Training, monitoring |
Noul is progressively establishing information security policies and implementation systems to respond to increasing cybersecurity risks driven by digital transformation and the expansion of cloud-based work environments.
In March 2025, Noul established company-wide information security regulations and implementation guidelines. These regulations cover major areas including information asset classification and management, access authority control, personal data protection and emergency response. In addition, Noul introduced security solutions to business devices used by employees and established a system to detect and block malicious programs and abnormal behavior in real time. It also applied integrated account management and multi-factor authentication to major company-wide business systems, reducing the risk of unauthorized access.
Meanwhile, in the second half of 2025, Noul pursued security vulnerability checks for major R&D and production systems and the establishment of an automated security event detection and response system, but some progress was delayed compared with the plan. In 2026, Noul plans to supplement security vulnerability checks for core systems and automate repetitive security response tasks to build a more systematic response system. It will also advance IT asset monitoring operations and gradually strengthen internal response capabilities for global cybersecurity standards required in the medical device industry.
Human Rights
Noul has established and operates a company-wide grievance mechanism to ensure that employees can safely raise the various difficulties they experience in the workplace and have them addressed through practical solutions. Employees may raise grievances related to all aspects of their work and workplace life, including workplace harassment, discrimination and unfair treatment, work-related conflicts, compensation and benefits, and occupational health and safety issues, through online and offline channels. Noul clearly sets out the principles of protecting the identity of reporters and prohibiting retaliation to ensure that grievances can be raised safely.
For each grievance received, the relevant facts are verified in accordance with established procedures, and an investigation and potential improvement measures are reviewed where necessary. Noul then systematically carries out the full process, including implementing corrective measures, notifying the reporter of the outcome, and conducting follow-up monitoring to assess recurrence and the effectiveness of the improvements.
A total of five grievances were received through official channels in 2025. The matters reported were not limited to human rights violations, but covered a range of issues across employees' everyday working environment, including communication practices within departments and requests to improve safety-related conditions. For every case received, Noul verified the facts and reviewed improvement measures in accordance with established procedures, implementing institutional enhancements or improvements to the working environment where necessary. The outcome of each case was individually communicated to the reporter, followed by monitoring to assess recurrence and the effectiveness of the improvements.
Noul plans to develop its grievance mechanism beyond a simple reporting channel into a management system that identifies and addresses organizational issues at an early stage. To this end, Noul will provide regular communications and training so that employees are fully aware of the grievance channels and procedures and can actively use them when needed. Noul will also regularly assess the effectiveness and reliability of the grievance mechanism and continuously incorporate improvements identified during its operation to enhance the system's practical effectiveness.
Grievance Reporting and Whistleblowing Channels
| Category | Details |
|---|---|
| Online | Anonymous online reporting form |
| Offline | Suggestion Box |
| Grievance counselors | Noul Harmony(Labor-Management Council), People Cell members |
| Hotline | speakup@noul.com |
2025 Grievance Receipt and Handling Status
| Type | Number of Cases | Action Taken |
|---|---|---|
| Occupational Health and Safety (EHS) | 2 cases | Completed |
| Human Rights | 1 case | Completed |
| Company Life | 1 case | Completed |
| Organizational Culture | 1 case | Completed |
Noul conducts human rights training, including legally mandated training, at least once a year to enhance employees' human rights awareness and foster a culture of mutual respect.
In 2025, Noul invited an external instructor with a disability to conduct disability rights training. The instructor shared a perspective that views disability through the lens of environmental and institutional conditions rather than as an individual issue, and presented specific examples of communication and collaboration among colleagues within an organization. This provided employees with an opportunity to consider the attitudes and standards of conduct they can apply in their everyday working environment.
During gender sensitivity training conducted by an internal instructor, employees reviewed their awareness of gender discrimination and inappropriate sexual conduct in the workplace and received information on the operation of the grievance mechanism and the related reporting and protection procedures. In particular, the training content was developed based on actual cases reported within the organization and the results of employee feedback, enabling employees to understand and respond to relevant issues in a more realistic context.
Noul plans to continue developing its training content by reflecting actual cases within the organization and employee feedback. It will also expand training programs beyond legally mandated training to enhance understanding and awareness across human rights, diversity and inclusion (DEI).
Noul operates a fair compensation system to prevent discrimination based on unreasonable grounds such as gender or type of employment contract. Wages are determined according to reasonable criteria, including the nature of the role, employees' experience and expertise, and the level of their roles and responsibilities, with no wage differentiation based on gender. Starting salaries for new employees are also determined according to the same criteria regardless of gender. These principles apply equally not only to regular employees but also to hourly part-time employees and interns. Since its early years, Noul has set intern compensation based on the Gyeonggi Province living wage and has provided interns with the same benefits as regular employees, except for certain programs intended for long-serving employees.
As of 2026, women's average wage was approximately 74% of men's, while their median wage was approximately 70% of men's. A more detailed analysis by position and job category found that the average wage of women in leadership positions was approximately 103% of that of men, with no significant difference in average years of experience between men and women. The overall wage gap was analyzed as primarily resulting from two factors. First, men account for a higher proportion of employees and leadership positions in R&D roles, which have relatively higher wage levels. Second, within Member-level positions, male employees have more average years of experience, at 12 years compared with nine years for female employees, resulting in wage differences based on experience.
Noul consistently applies the principle that factors unrelated to job competency, including gender, are not reflected in wage decisions. Based on this principle, Noul regularly reviews relevant indicators to prevent unreasonable discrimination in recruitment, career development and appointment to positions, and monitors the gender ratio in leadership at monthly management and leadership meetings.
Noul operates the Labor-Management Council, "Noul Harmony," in accordance with the intent and requirements of applicable laws and regulations. Through the Labor-Management Council, Noul has established a structure for gathering workplace feedback when changing systems or adjusting operating practices related to employees' working conditions and benefits, and for considering employee perspectives in management decision-making.
In 2025, four regular meetings were held to discuss a range of agenda items, including company-wide leave arrangements at year-end, system improvement tasks based on employee survey results, and employee grievances. Some agenda items led to practical improvements, including adjustments to operating practices based on the discussions or transfer to subsequent review tasks. Noul also shared the background to key decisions with employee representatives and held question-and-answer sessions to improve their understanding of the policy implementation process.
Going forward, Noul plans to continuously enhance the operation of the Labor-Management Council by strengthening the advance sharing of agenda items, systematic documentation of discussion outcomes, and follow-up monitoring, so that the council goes beyond a simple reporting and notification procedure and employees' opinions are meaningfully reflected across organizational operations.
- -Sharing employee survey results on company systems and operations and discussing improvement directions
- -Discussing matters related to employee grievance handling
- -Sharing strategic directions following the transition in management mode
- -Discussing company-wide leave arrangements at year-end
Occupational Health and Safety
Noul recognizes the lives and safety of employees, customers and stakeholders as its highest priority across all business areas. In accordance with its Occupational Health and Safety Management Policy, Noul systematically complies with and implements the requirements of applicable occupational health and safety laws and regulations to ensure that all workers can work in a safe and comfortable environment. It also analyzes major risk factors reflecting the characteristics of its workplaces and implements priority-based action plans.
Identification and prevention of hazards and risk factorsNoul regularly conducts risk assessments across all areas of its workplaces, including manufacturing, research and office operations, to systematically identify hazards and risk factors. Based on the assessment results, Noul establishes priorities for improvement and implements the necessary measures in stages. It also reviews compliance with occupational health and safety laws and regulations under the Serious Accidents Punishment Act every six months. In addition, pursuant to the Laboratory Safety Act, Noul commissions an external specialized institution to conduct a detailed safety inspection once a year, identifying and addressing potential risk factors that may be difficult to detect through internal inspections alone.
Site safety inspections and employee participationNoul conducts regular workplace walk-through inspections to systematically identify changes in equipment and the working environment. In addition, through TBMs (Tool Box Meetings) held before work begins, employees directly identify the risk factors associated with the relevant task and discuss safe working methods in advance. Noul also operates an employee feedback system. Reported risk factors and improvement suggestions are regularly reviewed and incorporated into the risk management process, fostering a workplace-centered safety culture created through employee participation.
Employee protection and incident managementPursuant to the Occupational Safety and Health Act, Noul guarantees employees the right to immediately stop work and evacuate when an imminent danger arises or is likely to arise. Employees who exercise this right are protected from any form of disadvantage. As of 2025, there were no cases in which work was stopped due to a hazardous situation. When an incident or abnormal sign is detected, Noul immediately analyzes the cause and conducts an incident investigation procedure that includes measures to prevent recurrence. The investigation results are then used to improve the occupational health and safety management system.
In 2026, Noul plans to develop its own detailed workplace inspection checklist that comprehensively reflects occupational health and safety laws and regulations, laboratory safety legislation, and practical workplace requirements to further strengthen the level of occupational health and safety management at its workplaces. It will also identify high-risk groups based on data from past near misses, accident records and risk factor improvements, and strengthen related management activities to identify potential accident risks at an early stage and prevent occupational accidents.
| Participating Employees | Number of Processes Assessed | Identified Risk Factors | Items Requiring Improvement | Unacceptable Risk Factors | Improvements Completed |
|---|---|---|---|---|---|
| 129 (all employees) | 89 | 460 | 13 | 1 | 13 (100% improvement rate) |
| Improvement History | Improvement Rate |
|---|---|
| 63 cases (43 safety, 20 health) | 100% |
| Employee Feedback Received | Employee Feedback Adopted | Not Adopted |
|---|---|---|
| 9 cases (6 safety, 3 health) | 7 cases (100% improvement rate) | 2 cases *The two suggestions not adopted were determined to involve very low risk and require no separate measures. |
Noul operates a Health Management Room led by its in-house occupational health manager to continuously monitor employees' physical and mental health. In particular, Noul operates a wellness program for employees requiring health follow-up, including those under observation and those with abnormal findings. Through the program, key health indicators are measured monthly, and employees receive close support to promote positive changes in those indicators. Noul also conducts special health examinations at prescribed intervals for employees exposed to hazardous agents. Based on the examination results, improvements to the working environment and customized health consultations are provided where necessary to ensure practical follow-up care.
An analysis of 2025 health examination data found no cases of occupational disease. However, as a group of employees requiring individual health management was identified, Noul plans to develop and distribute lifestyle improvement guides for major disease groups in 2026. The guides will contain standards for health indicators, dietary and exercise recommendations for improving relevant indicators, and lifestyle management guidance, and will be made available to all employees as health management resources.
In the area of mental health, Noul proactively conducted a job stress assessment for all employees in 2025, even though the company was not legally required to do so. Customized individual counseling was provided to employees classified as being in a risk group based on the analysis, and company-level support measures to alleviate job stress were established and are being implemented in stages.
As a venture company in its growth stage, Noul operates various employee participation-based committees and communication channels to spread a safety culture and continuously improve its occupational health and safety management system.
- Occupational Safety and Health Committee : The committee meets once every quarter to review and resolve major occupational health and safety agenda items at the workplace. The meeting outcomes and minutes are shared with all employees to ensure transparency in decision-making.
- Contractor Safety and Health Council : The council meets once a month with the participation of employees from partner companies to discuss hazards and risk factors and develop improvement measures. The outcomes of the discussions are immediately shared with relevant stakeholders to ensure prompt corrective action at the workplace.
- Labor-Management Council, "Noul Harmony" : Employees may freely submit occupational health and safety suggestions or requests through "Noul Harmony." Submitted feedback is forwarded to the responsible department and managed to ensure that corrective measures are implemented.
- Occupational health and safety information access channels : Occupational health and safety bulletin boards have been installed at key locations within the workplace to provide continuous access to essential information. Relevant materials are also available at any time through the company-wide shared drive.
- Access to MSDS : Dedicated laptops are provided at workplaces where material safety data sheets (MSDS) are required, creating an environment where employees can promptly access information on chemical substances.
Noul systematically provides regular training that meets legal requirements as well as practical education and training tailored to job characteristics to enhance employees' safety awareness. Pursuant to the Serious Accidents Punishment Act, Noul continuously monitors completion of occupational health and safety training every six months and provides additional remedial training to employees who have not completed the required courses, ensuring that all employees complete their training. All training is conducted through in-person group sessions to enhance concentration and effectiveness.
Noul also regularly conducts customized, scenario-based emergency response drills reflecting the specific characteristics of each department's work, strengthening the organization's crisis response capabilities to minimize loss of life and property. Employees engaged in hazardous or high-risk work also receive special occupational health and safety training in accordance with legal requirements to improve their understanding of task-specific risks and their ability to respond in the workplace.
2025 Training Results
| Category | Training Content | Training Target | Participants Completed | Completion Rate | Hours (per person) |
|---|---|---|---|---|---|
| Occupational Health and Safety Training | Occupational health manager job training | Occupational health manager | 1 | 100% | 34 hours (34 hours per person) |
| Regular supervisor training | Supervisors | 5 | 100% | 40 hours (8 hours per person) | |
| Regular training | All employees | 133 | 100% | 1,596 hours (12 hours per person) | |
| Special training | Employees subject to special training (short-term and intermittent work) | 6 | 100% | 24 hours (2 hours per person for each applicable task) | |
| Training upon hiring | New hires | 23 | 100% | 184 hours (8 hours per person) | |
| LMO Safety Training | Refresher training for the Biosafety Officer | Biosafety Officer | 1 | 100% | 4 hours (4 hours per person) |
| Refresher training for the Biosafety Officer | Biosafety Officer | 1 | 100% | 4 hours (4 hours per person) | |
| Principal Investigator training | Principal Investigator | 1 | 100% | 2 hours (2 hours per person) | |
| Research personnel training | Research personnel | 3 | 100% | 6 hours (2 hours per person) | |
| Waste Management Personnel Training | Medical waste generator training | Waste management personnel | 1 | 100% | 4 hours (4 hours per person) |
Quality Management System
Noul regards safe and reliable products and services as the highest priority in creating customer value and continues to advance its quality management system to global standards. As part of these efforts, Noul obtained certification under the Medical Device Single Audit Program (MDSAP) in 2025.
MDSAP is an international certification demonstrating compliance not only with the international medical device quality management standard ISO 13485 and GMP, but also with quality management system requirements established by major regulatory authorities, including the U.S. Food and Drug Administration (FDA), Health Canada and Brazil's National Health Surveillance Agency (ANVISA). Through this certification, Noul received official recognition that it has established a quality management system compliant with international standards throughout the entire process from product design to manufacturing.
MDSAP certification also provides a foundation for streamlining the quality management system audit procedures required during global regulatory approval processes and proactively managing regulatory risks. Noul will continue to strengthen its quality management system in line with international standards and expand its global regulatory response capabilities so that miLab™ can be used as a safe and reliable diagnostic solution in healthcare settings worldwide.
Noul applies a risk-based approach to manage quality-related processes and ensure the effective operation and continuous improvement of its quality management system. Potential risks that may arise in each process are identified based on their severity and likelihood of occurrence, and identified risks are systematically managed through the following five types of measures.
| Type of Measure | Number Implemented in 2025 |
|---|---|
| Establishment of process procedures | 39 |
| Development of quality forms | 4 |
| Designation of process owners | 5 |
| Establishment of qualification criteria and qualification of process owners | 2 |
| Education and training | - |
To reduce quality risks arising during new product development, Noul continuously advances its quality management system (QMS) through post-project retrospectives and analyses of failure cases. In 2025, employees and managers from the development, quality and manufacturing organizations jointly participated in a review of the development, verification and mass production transfer project for the cervical cancer screening product, identifying key issues and improvement tasks. As a result, improvement plans were established for four core processes, including component approval, change control, development verification and manufacturability validation, and are being applied in stages to new projects.
Noul plans to continue proactively managing quality risks from the early stages of product development and strengthening the stability and operational efficiency of its quality management system through risk-based management and continuous process improvement.
Noul established a dedicated customer service function in 2024 to minimize customer complaints and improve the quality of service responses, and has continued to enhance its customer service operating system. In 2025, Noul implemented the following activities with the goal of improving response times and problem-solving capabilities across key customer service operations.
- Prompt customer response system
Noul maintained a principle of providing an initial response to all customer inquiries and requests within 24 hours, and met this standard for every inquiry received in 2025. - Customer support manuals
Noul prepared and shared 18 FAQ and equipment repair manuals to enable distribution partners to respond more promptly to customer inquiries and equipment-related issues. - Service knowledge management system
Noul established a service knowledge database to systematically manage recurring inquiries and equipment repair cases and use them in future service responses. - Improved access to customer information
Noul operates a cloud-based shared platform through which customers and internal employees can access the manuals and materials at any time, improving information accessibility.
In 2026, Noul plans to maintain its initial response system for customer inquiries within 24 hours and further strengthen its customer service capabilities in stages by developing additional manuals on equipment operation and repair.
Noul continues to develop a supply chain management system aligned with the company's growth stage from a mid- to long-term perspective to secure high quality and competitive pricing. From the new supplier registration stage, Noul comprehensively reviews and evaluates suppliers' capabilities in operational and production management, quality and risk management, and the management of environmentally hazardous substances. It also assesses supplier quality reliability and operational stability through annual performance evaluations. To ensure stable procurement of key components and materials, Noul operates a multi-vendor sourcing model and continuously identifies overseas partners, strengthening a supply chain structure capable of responding to cost, delivery and quality risks.
In 2025, Noul conducted preliminary due diligence in social compliance areas, including labor, human rights and safety, with reference to SA8000 when identifying overseas partners. Its supplier human rights and labor due diligence framework will be established in stages in line with the company's growth. Where necessary, Noul intends to conduct due diligence on partner companies located in regions with high labor and human rights risks to identify and address such risks within the supply chain in advance.