CEO Compliance Message
Despite challenges in the current business environment, including the ongoing U.S.–China trade dispute and supply chain disruptions, LG Energy Solution has been growing steadily every year thanks to all the employees for your constant strive for innovation and relentless efforts. Furthermore, our business is gradually expanding its influence on domestic and international stakeholders such as customers, partners, and shareholders. Therefore, our employees’ work and conduct must be carried out in a legitimate manner that complies with relevant laws, regulations, and corporate ethics.
Derived from the meaning of “comply" which refers to adhering to laws and regulations, compliance has now become a core value of ESG, a key drive for a company's competitiveness, and is indispensable for sustainable growth. LG Energy Solution became the first in the battery industry to obtain the ISO37301 certification, a global compliance management standard of the International Organization for Standardization, in 2021. The company’s continuous efforts are further demonstrated through systematizing and organizing the company-wide compliance activities through "Compliance Portal" which opened in March 2023, providing access to various educational training programs to the employees.
Starting from the second half of this year, the ESG Committee under the Board of Directors will rigorously review major compliance issues in order to bring fundamental changes for improvement.
We urge all employees to work together in line with the company's compliance activities. Please strictly adhere to relevant laws, regulations, and corporate ethics in your respective positions, and actively participate in compliance training, audit, and improvement actions. Such practices will take us one step further towards becoming the "The most profitable company with the world's best QCD management that customers trust and love."
With warmest regards,
Overview of Compliance Management System
LG Energy Solution has appointed a Compliance Officer to oversee the company's compliance activities. Under their command, the Compliance Team was installed to operate the compliance management system. The Compliance Team operates the Compliance Management System (CMS) in collaboration with each business practice area.
Operating the Compliance Management System
LG Energy Solution's Compliance Management System (CMS) identifies and evaluates compliance risks every year and establishes compliance goals to address and prevent them. They monitor violations and/or illegal activities and carry out evaluations to continuously improve CMS.
Compliance Management System (CMS)
Enhancement of Compliance Management System
LG Energy Solution aims to operate an integrated CMS and improve our compliance management. To this end, we will foster compliance experts, establish and revise policies and rules, operate a compliance system, constantly monitor and inspect, and adopt a compliance-oriented organizational culture.
Build a consultative body
Fostering compliance experts through
training by external specialists
Revision of compliance guidelines,
control standards, and manuals;
Delivering compliance messages
Digitalization of compliance
management system through
the compliance portal
- Constant monitoring, inspection, and improvement through Compliance Portal
- Analysis of overall compliance risks, followed by self-inspection and in-depth inspection* in the areas including occupational safety at all global sites, environment, information security, fair trade, and ethics management (including anti-corruption, conflict of interest, etc.).
- A company-wide compliance review conducted annually, results of which are reported to the Board of Directors, including validity assessment
- Surveillance audits conducted annually as part of ISO 37301 certification process
* Business sites inspection and interview of members about key issues
Establishing a corporate culture of compliance
management by building CMS in overseas subsidiaries
LG Energy Solution (Headquarter)
LG Energy Solution (Nanjing) Co., Ltd.