LOTTE MCC operates a compliance organization and autonomous implements the following compliance management program to comply with the Fair Trade Act, Subcontracting Act, and other regulations

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  Introduction of
  Compliance Program

  The company operates an autonomous compliance program by establishing the required standard and process to help employees recognize and practice the fair trade regulations.

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  Continuous Training

  Provides continuous training to help employees understand the laws related to their business and respond to the ever-changing regulatory environment.

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  Provides a Business Guideline

  Provides compliance handbook, checklist, etc., that is centered around the regulation related to fair trade so that the executives and employees can apply the guideline to their businesses.

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  Pledge of Compliance

  By regularly performing the pledge of compliance with the entire employees, the company strives to create a compliance culture that can arouse the importance of law observance and assures practice

GRI 205-2 Announcement and education on anti-corruption policies and procedure

GRI 205-3 Confirmed incidents of corruption and actions taken

GRI 418-1 Substantiated complaints concerning breaches of customer privacy and losses of customer data

We commit the utmost efforts to spread the culture of fair trade with our stakeholders. Ensuring equal opportunity to all the stakeholders, and aiming the transaction in accordance with the open competition. Moreover, we are pursuing the long-term relationship with our stakeholders through fair trade. In order to establish trust with customers, employees, partners, shareholders, and society, LOTTE MCC has enacted and declared the following fair trade and anti-corruption policies.

1. Fair Trade Policy

• LOTTE MCC gives an equal opportunity to all qualified stakeholders in bidding.
• Bidding is opened through the electronic procurement system(eproc.lottechem.com), and partners can begin the business after agreeing to the ‘Integrity Contract Implement Pledge’ on fair trade and anti-corruption.
• The selection of bidders is carried out in a reasonable way based on objective and fair evaluation standards.
• All transactions are conducted fairly and on and equal footing, and sufficient agreements are made on the terms and conditions of the transaction with partners.
• We establish and operate various regulations related to anti-corruption and fair trade.
• We distribute Dos and Don'ts and checklists that employees can use in the field.

2. Anti-Corruption Policy

• LOTTE MCC’s executives and employees comply with all the applicable domestic and foreign anti-corruption related laws, including the Criminal Act, the Anti-Graft Act, the Anti-Bribery Act on Foreign public officials in International commerce, the U.S. Foreign Corrupt Practices Act, and the UK Bribery Act. In addition, we comply with internal regulations such as the Code of Conduct for LOTTE employees and regulations on the provision of money and goods and the prohibition of improper solicitation by LOTTE MCC, and do not provide money or valuables to stakeholders such as public officials in connection with their duties.
• Even if stakeholders, such as partners, accept money or valuables that are not permitted in connection with the business of LOTTE MCC, it may be misinterpreted as the fault of LOTTE MCC, and may request comply with anti-corruption.
• LOTTE MCC’s executives and employees sign and implement the compliance pledge once a year to comply with the anti-corruption policy.