• In 1994, LGE established Code of Ethics, which details the fundamental principles of Jeong-Do
• The Code of Ethics is composed of the preamble – “customer-value creation” and “people-oriented management” – and the ‘Practical Guidelines’
• As of 2020, the Code of Ethics has been amended six times, through which related regulations and sub-guidelines were strengthened
• It is distributed to 140 global subsidiaries in order to enable all employees to be fully versed on their ethical and professional responsibilities.
|Chapter 1. Responsibilities and Duties to Customers|
|1. Respecting Customers 2. Creating Value 3. Providing Value|
|Chapter2. Fair Competition|
|1. Pursuing Free Competition 2. Complying with Laws and Regulations|
|Chapter 3. Fair Transactions|
|1. Equal Opportunity 2. Fair Transaction Process 3. Pursuing Mutual Growth|
|Chapter 4. Basic Ethics for Employees|
|1. Basic Ethics 2. Accomplishing Missions 3. Self Development 4. Fair Handling of Job 5. Avoiding Conflict of Interests with the Company|
|Chapter 5. Corporate Responsibilities for Employees|
|1. Respecting Humanity 2. Fair Treatment 3. Promoting Creativity|
|Chapter 6. Responsibilities to the Nation and Society|
|1. Rational Business Operation 2. Protecting Stockholders' Returns 3. Contributing to Social Development 4. Conservation of the Environment|
• We have established a whistleblower system as a means of reporting violations of Jeong-Do Management by our employees, thereby further strengthening transparency and a sense of responsibility in the course of the performance of duties.
• All reports received through the whistleblower system are thoroughly protected via the internal reporting system, and any matters related to corruption and illegalities are subject to disciplinary action in accordance with the seriousness of the violation, as determined through investigation
• Establishing a risk diagnostic system with the aim of preventing risks and instilling the spirit of Jeong-Do Management
• Implemented a two-track process whereby both the business department and the audit department can jointly manage issues relating to receivables, expenses and purchasing, and sales promotion cost reflected in price.
• We have established monitoring systems for each type of risk through machine learning and AI,
• LGE offers various channels for providing one-on-one counseling to employees for inquiries related to Jeong-Do Management.
- Online system using intranet (chatbot, etc.)
- Counseling via telephone
- Counseling via e-mail
• The content of any counseling that is conducted may be disclosed at the discretion of the person receiving counseling.
* It can be disclosed according to the counselor's judgment
• FAQ are compiled and shared with all employees through online channels or during training programs held.
• We provide regular training and conduct activities aimed at increasing awareness of the principles of Jeong-Do Management such that employees can be fully versed on these principles.
• Training: We provide collective and online training for our employees to prevent recurrence of violations of the principles of Jeong-Do Management and share cases of noncompliance on company bulletin boards or the Jeong-Do Management Portal.
• In 2021, Education channels will be diversified by developing videos, webtoons, and online textbooks for international readers.
• Awareness : To raise the awareness in terms of Jeong-Do Management by regularly distributing information regarding issues through the ‘Jeong-Do Management Newsletter’.
• Survey: In order to assess the level of awareness regarding relevant issues with a view to preventing irregularities and developing improvement measures for employees and suppliers.
|Number of Trainees||2,292|
|Year||1st Quarter, 2021|
|Number of Trainees||132|
• We do not disclose any information without consent, and investigations are carried out by people who have committed to adhering to strict principles of confidentiality.
• if it is recognized that an informant suffered any negative consequences as a result of submitting a report, measures are taken to redress these consequences or equivalent compensation is provided.
• Reward System for Reporting Irregularities:
- In order to further strengthen employee compliance with the principles of Jeong-Do Management and eradicate irregularities, we implemented a reward system our employees and the general public.
- Informants must submit documents that support the claims of misconduct that they are reporting.
- Irregularities that require immediate attention may be reported without the submission of supporting documents.
• In accordance with our ethics regulations, we prohibit the reception of gifts or other valuables. Any employees who unavoidably receive such gifts are handled in accordance with the relevant guidelines and regulations.
• Gifts or other valuables unavoidably accepted by employees are self-reported and returned.
• Items that cannot be returned are donated to social welfare institutions. Following this, our Code of Ethics, a letter of request for cooperation, and a document which verifies the donation are sent to stakeholders and the head of the company in question.
• Items that cannot be donated are put up for in-house auction, all proceeds of which go toward social contribution causes.