Policy & Strategy
LG Electronics’ Policies
Our policies help to ensure that our Business Philosophy are put into practice in our day-to- day business. Here we provide a list of our policies linking to a brief summary of each one.
CSR(Corporate Social Responsibility) Vision & Strategy
Our CSR activities are an inseparable part of our strategies for sustainable growth and the accomplishment of our vision: “World Best at Enriching Lives through Innovation”. To this end, LGE has laid out the following strategic imperatives: Ensure that every management activity is carried out with a CSR-oriented mindset; Create differentiated value for stakeholders through innovation; Nurture win-win partnerships with all stakeholders in a spirit of mutual trust.
CSR Governance
In 2009, LGE created the decision-making body, the CSR Committee, comprising of C-level officers, presidents of company and region representative, and chaired by the CEO. Subsequently in 2010, a strategic decision-making process was carried out for activities including membership of the Electronic Industry Citizenship Coalition(EICC) and announcement of Global Labor Policy. The corporate CSR activity plan and cooperation issues are also being shared and discussed on a regular basis through global CSR council which is comprised of the CSR committee members. Following the accession to the United Nations Global Compact(UNGC) in 2009, LGE joined EICC in August, 2010.
CSR Risk Management
LGE is conducting CSR risk management for its Korean and overseas business sites using five criteria: labor, ethics, environment, health & safety, and management system, in accordance with the EICC Code of Conduct. To meet requirements, LGE conducted a Self-Assessment on 20 Korean and overseas business sites using the Electronics Tool for Accountable Supply Chain(E-TASC) in early 2010. E-TASC is an online self-assessment questionnaire system by the EICC designed for Information and Communications Technology(ICT) industry members to analyze their CSR risk management status. In late 2010, LGE selected four from 20 Korean and overseas business sites to conduct an on-site audit. Although no severe risks were detected, additional consulting and periodic monitoring were deemed necessary to improve such weaknesses as supply chain management.
Stakeholder Engagement
LGE is actively responding to queries and interview requests from diverse variety of stakeholders, including customers and NGOs(38 cases in 2010). LGE is maintaining periodic communications with the academy, the industry and consulting agencies, and participating in various conferences on CSR management. To listen more closely to the expectations of stakeholders, LGE is holding stakeholder consultations with the aid of experts from the government, NGOs, international organizations, academia and the industry for specific subjects semi-annually since 2010. To improve employees’ CSR understanding and awareness, LGE is running a CSR training program every month for new employees regardless of work experience. LGE is planning to increase the number of employees to be trained in 2011. Since December 2010, CSR newsletters have been issued to department leaders(biweekly) in order to share the global CSR trend and LGE’s CSR activities.
Strategic Social Contribution
LGE has also continued to provide diverse social contributions in 2010 focused on sustainable solutions to the environment, poverty, disease, and the United Nations Millennium Development Goals (MDGs), put efforts into its poverty alleviating programs to include the Asia region, and sponsoring the Business for the Environment Global Summit.