LG Energy Solution is a total energy solutions company that builds
an energy ecosystem with customer-centric advanced technology,
global integrated operations, and sustainable growth.
Overview
Jeong-Do Management is an ethical management and code of conduct to enable capability development and fair competition.
Introduction
Jeong-do Management Governance
To ensure the company-wide ethics management, LG Energy Solution has established a Corporate Audit Department composed of the Corporate Audit Teams and Business Ethics Office.
The Corporate Audit Team conducts assessments and audits to ensure corporate integrity and compliance with ethical standards, while the Business Ethics Office is responsible for investigating and preventing corporate misconducts, as well as conducting ethics trainings and promotional activities. To promote business ethics management across our global operations, we operate Corporate Audit Teams by region. These teams facilitate effective internal audits and management assessments against ethical standards across all business sites.
LG Code of Ethics
At LG, we share and believe in two key corporate management "Creating value for customers" and "Respecting human dignity."
Based on these philosophies and in the spirit of our Management Charter, we strive to promote autonomous management and responsibilities.
Our interest is to uphold the tenets of the free market economy, which embodies the spirit of free and fair competition.
We are committed to attaining our goal of becoming a world-class global company, LG will continuously pursue mutual benefits for our stakeholders based on trust and cooperation.
LG is committed to act uprightly and make value judgments under the code of ethics.
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‘LG Code of Ethics' stipulates a set of standards for ethical behavior to be observed by all LG officers and employees. LG Ethics Committee and LG Jeong-Do Management TFT are responsible for its development, review, revision and approval. LG Co., Ltd and its subsidiaries shall strictly adhere to the Code and ‘Implementation Guidelines for Code of Ethics.’ The subsidiaries have the authority to establish and revise specific guidelines and regulations, tailored to respective circumstance of each subsidiary, to enforce the Code.
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LG Energy Solution adopts LG Code of Ethics as guiding principles and standards for ethics management; and ‘Implementation Guideline for Employees’ is in place to support ethical behaviors of all officers and employees at work. Key issues of business ethics is also managed in our Compliance Management System, including sexual and non-sexual harassment prevention, fair trade, anti-bribery and corruption. Further, we continuously review and manage the Code to ensure our ethical standards are in compliance with laws and regulations in all applicable jurisdictions, as well as global standards. The update and revision of our Code of Ethics is made taking into account the results from the review and audit.
Responsibilities and Obligations to Customers
Our customers form the foundation of our no period and LG will always hold their views in the highest regard.
We seek to earn unconditional trust from our customers by continuously providing them with practical value.
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1. Respecting Customers
- We value the opinions of our customers and validate their true needs at all times. We regard our customers as the primary standard for our decisions and conduct.
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2. Creating Value
- We work hard to create value for our customers. Through customer satisfaction, we can build the foundation of our sustainable prosperity.
- We continuously create practical value that fully benefits and satisfies our customers.
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3. Providing Value
- We are always true to our customers and never fail to keep our word.
- We offer the highest quality products and services at affordable prices and respond to customers’ requests promptly and accurately.
Fair Competition
In all its business activities worldwide, LG shall gain a competitive advantage through fair methods by respecting the laws and regulations of each region.
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1. Pursuit of Free Competition
- We uphold the principles of the free market economic system and pursue open competition around the world. We earn our customers’ trust through top-quality products and services.
- We compete fairly and capably with our competitors and do not interfere with their interests or exploit their weaknesses.
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2. Compliance with Laws and Regulations
- We conduct our domestic and overseas business activities in strict accordance with local laws and regulations and concerning local business customs.
Fair Transactions
All business transactions are based on the principles of fair competition with equal opportunity guaranteed to all entities. We build trust and cooperative relationships through fair and transparent transactions pursuing long-term mutual growth.
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1. Equal Opportunity
- LG offers equal opportunities to all qualified companies seeking to become our business partners.
- We register and select all applicants in a systematic manner according to a fair and objective evaluation process.
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2. Fair Transaction Procedures
- We conduct all business transactions under equitable circumstances. The terms and procedures of the transaction are thoroughly discussed between the parties involved.
- We never engage in any form of unfair transaction taking advantage of any superior position.
- We exchange transaction information through appropriate procedures in a timely manner. Transaction results are evaluated on a regular basis and cooperation measures are taken.
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3. Pursuing Mutual Growth
- We support the long-term growth of our dealers and vendors by enhancing their competitiveness through technological and managerial assistance. We share the profits derived from business innovations.
- We pursue mutual efforts and cooperation with our business partners by promoting a healthy business environment and maintaining fair business processes.
Basic Ethics for Employees
Based on strong beliefs of honesty and fairness, LG employees must build righteous values, continuously develop themselves and perform their duties in a fair manner in order to achieve their assigned missions.
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1. Basic Ethics of Employees
- LG Employees are proud of the Company and always act honestly and fairly.
- LG Employees strive for a high standard of morality and continuously strive to maintain their personal dignity and the Company’s honor.
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2. Accomplishing Missions
- LG Employees accomplish their duties in accordance with the visions and policies of the Company.
- LG Employees perform assigned duties in the best possible and professional manner while obeying relevant regulations.
- LG Employees protect and preserve Company’s properties and maintain confidentiality on information gained during employment.
- LG Employees openly communicate and cooperate with colleagues and related departments to enhance work efficiency.
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3. Self-development
- LG Employees understand the meaning of an ideal employee and constantly strive to meet these standards through self-development.
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4. Fair handling of Job
- LG Employees carry out their duties based on honesty and fairness, always seeking to contribute to fostering a sound business culture.
- LG Employees do not accept any form of financial benefits from stakeholders that may influence their clear judgment.
- LG Employees do not engage or unethical behavior in performing their duties.
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5. Avoiding Conflict of Interests with the Company
- LG Employees avoid personal behaviors or relationships that are in conflict with the Company’s interests.
- LG Employees do not use the Company’s properties to pursue personal interests.
Corporate Responsibilities for Employees
All LG Employees are respected as dignified individuals, treated fairly according to abilities and achievements, and encouraged to demonstrate creativity to its full extent.
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1. Respecting Humanity
- LG treats each employee with warmth and trust and values every individual’s dignity.
- LG makes every effort to help employees feel pride and personal fulfillment by giving them a sense of ownership in their jobs.
- LG has established regulations and educational guidelines and takes necessary actions to assist employees in performing their duties in a fair and effective manner.
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2. Fair Treatment
- LG offers equal opportunities to all employees based on their abilities and talents.
- LG evaluates the abilities and performance of its employees using fair means and rewards.
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3. Promoting Creativity
- LG makes every effort to create a working environment conducive to creative thinking and autonomous behavior.
- LG actively develops employee abilities and manages its human resources based on a long-term plan.
- LG respects personal lifestyles and creates a developed organizational culture through mutual trust and understanding.
Responsibilities to the Nation and Society
LG protects the profits of stockholders as a sound corporation through the execution of healthy business, contributes to social development, and increases the well-being of citizens.
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1. Rational Business Development
- LG conducts its business respecting local social values in all regions in the domestic and international markets.
- LG promotes its business expansion based on stable corporate growth.
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2. Protecting Stockholders’ Returns
- LG protects its stockholders’ interests by earning healthy profits through effective management.
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3. Contribution to Social Development
- LG contributes to national and social development through job creation, tax contributions, and the promotion of cultural and welfare programs.
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4. Conservation of the Environment
- LG works hard to prevent environmental pollution and employs eve ry measure necessary to preserve the natural environment.
Operation Programs
To conduct systematic and unified Jeong-Do Management practices, we have installed a dedicated organization called "Business Ethics Office" that conducts education, publicity, and investigations on reports. We also operate an independent "Corporate Audit Team" to improve our performance and enhance competitiveness.
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Jeong-Do Management System Operation
LG Energy Solution operates the Jeong-Do Management System containing the detailed information about Management by Principle such as the LG codes of conduct, Q&A on Management by Principle, etc. Through this website, LG Energy Solution prevents any act of violation caused by the failure to accurately understand the LG codes of conduct and answers all the questions that might arise while carrying out Management by Principle.
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Education/Promotion of Jeong-Do Management
LG Energy Solution provides its employees with "Jeong-Do" Business Ethics Management Training Program, tailored to their duties and positions. The company provides online programs as well so that all employees, including contractors, can regularly complete Jeong-Do Management training courses. The training courses are also offered to LG Energy Solution’s overseas staff and its partner companies. In addition to training programs, LG Energy Solution strives to firmly establish an organizational culture based on the Jeong-Do Management by promoting relevant activities and sharing instances of violation.
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Bribe Receipt Notification System
LG Energy Solution strictly prohibits its employees from taking any monetary rewards or treats from the parties. Notably, it prevents taking any personal gifts, including those for congratulations and condolences. If any of the employees had to take the money or gifts for unavoidable reasons, they are required to return them after submitting a report to the company. If this is not possible, they are required to donate them directly to charitable organizations. If this is also impossible, the company holds an internal auction with the gifts and supports charitable organizations with the profits obtained from the auction.
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Online Jeong-Do Management Pledge
LG Energy Solution performs the Management by Principle Pledge for its entire employees online. In this pledge, LG Energy Solution's employees and partner companies vow to comply with the LG codes of conduct and practice Management by Principle every year.
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Ethics Hotline
LG Energy Solution operates the Ethics Hotline to report any type of business practices that violate the LG Code of Ethics and Jeong-Do Management principles. Executives, employees, or any party concerned can submit a report via online, postal mail, or fax. LG Energy Solution makes a constant effort to prevent corruption and fraud by its employees while improving irrational systems and work processes.
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E-mail lgesethics@lgensol.com
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FAX +82-2-3773-4123
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Tel +82-2-3773-4084
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