Fair Trade

We work toward a growing virtuous
circle for large, small and medium
enterprises

LG U+ strives to play a leading role in establishing a fair corporate culture.
We promote a sense of law-abidance and ethical awareness in employees in order to establish a fair transaction culture within the company, as well as paving the way for a transparent and orderly trade order by preemptively preventing the possibility of violations of fair trade laws.

Introduction to the Fair Trade Compliance Program (CP)

The Compliance Program (CP) refers to an in-house self-operated compliance system that offers education and supervision regarding laws related to fair trade, LG U+ is currently operating a compliance program that follows the compliance guidelines.

CEO-Legal Affairs Office-Compliance manager=The compliance officer, role served by director of legal affairs, Compliance officer:leads the compliance control sysrem, Compliance program manager:leads the compliance program -Compliance Control System Compliance Program

Components of the Fair Trade Compliance Program(CP)

Preparation and implementation of the standards and procedures for the compliance program: Establish the standards and procedures necessary for the implementation of the compliance program to clearly recognize and comply to the laws and regulations of fair trade in business. The willingness and support of the executives regarding compliance: Publicly express willingness to adopt policies of complying with laws related to fair trade and actively support the operation of the compliance program Appointment of a compliance program manager: Appoint a compliance program manager within the organization and give the manager authority over the compliance program. Production and utilization of compliance program manuals: Distribute manuals that include content on laws and regulations related to fair trade and the standards and procedures of the compliance program Conduct education on the compliance program: Provide training regarding laws on fair trade to executives and employees Establishment of internal monitoring system: Establish and operate a system for prevention and early detection of illegal activities Sanctions against violations of the law: Impose sanctions for violations of the law and prevent recurrence Evaluation on effectiveness and corrective measures: Inspection and evaluation for continuous operation of compliance program and corrective measures

Current status of the operation of the Compliance Program(CP)

LG U+ has been operating the Compliance Program(CP) since 2008 with active support from management. Through consultation with the Fair Competition Federation, LG U+ is striving to effectively operate the Compliance Program(CP) by trying to prevent the risk of violation of laws and regulations on fair trade through fair trade risk assessment, organization of departments dedicated to compliance, preparation of operational rules of compliance program, education on compliance program, prior business negotiation system, internal reporting system, and disclosure of operational status.

Establishment and operation of CP standards and procedures

  • Revision of detailed guidelines for compliance control standards
  • Enactment of compliance program operational regulations
  • Distribution and updates of manuals on compliance programs

Organizing CP task force

  • Appointment of a compliance manager: The compliance officer(director of legal affairs) should serve as the compliance manager.
  • Designation of a compliance team: The department in charge of fair trade under the Legal Affairs Office should be designated.

Fair trade risk assessment

  • Establish a method of regular identification and evaluation of fair trade laws violation risks, and prepare measures on managing violations.

Prior business negotiations and conducting follow-up inspections

  • Implementation of a prior business negotiation system through the legal research system
  • Regular follow-up inspections (monitoring, internal audit)

Internal reporting system

  • Reporting violations of compliance obligations can be done through the internal reporting system or the Jeong-do Management website
  • The informant’s anonymity and confidentiality will be ensured

Training

  • Distribution of guides and educational materials such as manuals on compliance
  • Conducting online and offline compliance training

Communication

  • Announcements on website
  • Disclosure of internal systems
  • Disclosure of Sustainability Report
  • Report to the Board of Directors on CP Operation Status

CP operation regulations

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For more details, please refer to
LG U+'s Sustainability Report.