Sustainability Management

Compliance Management

Through compliance management, the LS will enhance transparency, pursue sustainable growth, and create ‘greater value together’.

The LS has set compliance management as the foundation of its corporate management and also as an operational guideline.
To solidify our status as a credible and trustworthy corporation, our Board of Directors has appointed compliance officers, actively implemented compliance support control standards after authorization, and also operated a fair-trade self-compliance program and an online report center.

Moving forward, the LS will do its best to protect diverse stakeholders such as the company, employees, clients and shareholders by preemptively responding to any risks that may arise through strict compliance with laws and regulations and transparent and proper management.

Compliance Program (CP)

What is a Compliance Program?

A compliance program is an internal program that pertains to education/supervision that a company establishes and implements on its own in order to comply with laws and regulations related to fair trade.

CEO Message

There is an increasing global demand for fair competition and corporate social responsibility. The LS has been striving to enhance transparency and credibility since it adopted an in-house Compliance Program (CP) at the group level last year in order to spread a culture of transparency and fair trade. The Fair-Trade Self-Compliance Program is an internal control system and a standard that a company establishes and manages on its own in order to comply with laws and regulations related to fair trade.

The creation of such a program will enhance employees’ awareness of compliance and ethics,help preemptively mitigate risks and spread and internalize a culture of fairness.

More specifically, we will publish a Fair-Trade Self-Compliance Manual, a set of operational guidelines to raise awareness about compliance ethics,and establish fair and transparent trade practices by encouraging our employees to learn about and adhere to relevant laws and regulations.

The company will provide systematic education and support so that this program can serve as a management tool to enhance corporate value and competitiveness.Moreover, by adopting a ‘non-tolerance principle’, we will impose strict sanctions on behaviors that undermine the culture of fairness such as legal violations and failure to fulfill individual obligations.As we step forward into the future, the LS will become ever more renowned for the intent and content of its fair-trade self-compliance program as well as its active participation to ensure that a culture of fairness can be established.

Thank you.

Roe-Hyun Myung, CEO LS Corp.

1 Preparation and implementation of compliance program standards and procedures Application of compliance control standards
2 CEO’s willingness to promote self-compliance and associated support Annual declaration by the CEO of the company’s commitment to self-compliance and the establishment and operation of a self-compliance office
3 Appointment of self-compliance manager in charge of operating the compliance program Appointment of a self-compliance manager
4 Publication and utilization of self-compliance manual Publication and posting of a manual
5 Provision of continuous and systematic self-compliance education Request for compliance pledges, compliance, and provision of compliance education every year
6 Establishment of an Internal Monitoring System Operation of a self-compliance council consisting of a sustainable management team and legal team
7 Sanctions on employees who violate fair trade laws and regulations Revision of employee disciplinary regulations
8 Evaluation of effectiveness and improvement measures Annual report of the ESG Committee