EASTERN TANKER Co.,Ltd

We, the members of EASTERN TANKER, are committed to the satisfaction of our customers, providing world class services, pursuing the growth of all related parties to become a reliable and transparent company in terms of management and our duties as a member of society. Thus, we hereby decree the Employee Code of Ethics.

A. Basic EASTERN TANKER Employee Code of Ethics

• We shall be aware of our own reponsibilities and rights assigned based on the Company's vision and policy, and make our best efforts to carry them out.
• We shall have pride in being EASTERN TANKER employees, and make our best efforts to uphold the honor of the Compay, and carry out own tasks faithfully.
• We shall protect corporate property and never use them for our personal use.
• We shall not work for other profitable organization or be ebfaged in other profit-making businesses.

B. Responsibilities to Customers

• We shall offer the best quality services at reasonable prices for customers' satisfaction.
• We shall respect customers' opinions always keep our promises with customers.
• We shall provide customers with accurate and factual infomation.
• We shall do our best to protect customers ingormation snd shall not to disclose it without customers' prior consent to any other third party.

C. Responsibilities to Sharehoders

• We shall give our best efforts to enhance our shareholders' profits.
• We shall provide our sharedholders and other related parties with timely and useful infomation.
• We shall protect our shareholders' profits by realizing a stable and sustainable management.

D. Responsibilities to Competing Organizations

• We shall maintain a policy of fair competition according to the principle of free competition.
• We shall remain committed to the fair competition adhering to the order of fair trade and related laws and refulation while respecting the order of the market mechanism.

E. Responsibilities to Business Partners

• We shall promote mutual growth with our business partners by enhancing mutual trust and cooperative relationships.
• We shall neither influence or force our business partners to commit any illegal act by imposing our advantagerous position; we shall not receive gratuity from them in any form.

F. Company's Responsibilities to Employees

• The Company shall give its best efforts to make its employees feel the pride and accomplishment working for it.
• The Company shall respect the unique personality of each empoyee, and fully support their ability development by providing them with fair and equal opportunities.
• The Company shall create and maintain a proper working environment to ensure the protection of the health and safety of its employees while supproting them to achieve self-realization.

G. Responsibilities to the Country and Society

• The Company shall endeavor to contribute to the national economy and social development and corporate culture enhancement.
• The Company shall adhere to internationally accepted laws and regulations, as well as to the related laws and regulation of Korea, and fulfill the tax obligation.
• The Company shall do our best to protect the nature and maintain a clean environment.