Compliance management is an essential task that LOTTE INEOS CHEMICAL must take the lead in becoming a top global company. To become a company that is not simply profitable, but trusted and respected by society, compliance with the basics and principles is essential.
The rapidly changing business environment calls for the practice of law-abiding management more strongly. Regulations with the Fair Trade Act and the Anti-Corruption Act, which are related to corporate management, is being strengthened around the world, and failing to comply with the Acts will lead to criminal punishment and economic losses, as well as fatal corporate reputation losses. Therefore, it is important for all employees of LOTTE INEOS CHEMICAL not only to maximize business performance but also to comply with and implement all domestic and international regulations, including fair trade regulations.
In order to make compliance a common practice, there must be repeated training, discussion, and self-reflection. All employees of LOTTE INEOS CHEMICAL will thoroughly comply with the company's compliance management programs so that LOTTE INEOS CHEMICAL can stand firm in the global market as an honest and trusted company.
Incorruptible organizational culture makes a top global company.
LOTTE has grown into a representative company of Korea with the dream of creating a world full of love, freedom, and abundance, and has become a company that everyone wants to work for and with together. Behind this growth has been the absolute value of an Incorruptible organizational culture, which is also the value sought by top global companies.
In a world of transparency, no more tricks and evasion work. When we are transparent and honest in principle and everyone can fully trust our actions and beliefs, the path to survival and prosperity of our community opens. That's the basic spirit of 'honesty' that LOTTE has been emphasizing since its founding.
Based on this, LOTTE INEOS CHEMICAL and its executives and employees do not engage in any corrupt acts, such as providing improper benefits, such as bribes, or providing inappropriate gifts to domestic and foreign government officials or employees of national institutions, or those who can influence the decision, in order to obtain business opportunities or preferential treatment in relation to their work, and comply with domestic and international corruption-related laws such as the Anti-Corruption Act, the Anti-Bribery Act, and the Convention on Combating Bribery Of Foreign Public Officials in International Business.
We complete fairly with legitimate methods and capabilities.
LOTTE INEOS CHEMICAL and its executives and employees respect fair market competition order and compete fairly with fair methods and skills.
We comply with all laws and regulations governing monopoly and fair competition applicable to countries where we conduct our business activities and we do not engage in unfair trade practices, improper cartels and any acts of such concern.
We improve transparency in management by complying with internationally accepted accounting standards and complying with other applicable accounting-related regulations and internal accounting management standards.
We comply with laws and regulations related to trade secrets and do not require trade secrets through unfair instructions during business partnerships with our contractors. If it is inevitable to use trade secrets, we strictly keep it confidential to any third parties, so that we will take the lead in mutual growth with our contractors.
We comply with the statutes related to subcontracting, respect our subcontractors as partners in the business, and faithfully fulfill all legal obligations without making unreasonable demands or retaliatory actions using our superior position.