LG WAY
LG Way is the foundation governing our members’ mindset and behavior. It is our guidance toward becoming the industry leader that creates customer value and conducts people-oriented business by practicing our behavioral mode, envisioned as Jeong-Do Management.
LG Way is the foundation governing our members’ mindset and behavior. It is our guidance toward becoming the industry leader that creates customer value and conducts people-oriented business by practicing our behavioral mode, envisioned as Jeong-Do Management.
- No.1 LG
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Vision
LG ultimately aims to be recognized as the industry leader in business performance and management practices.
- Jeong-Do
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Behavioral Mode
Under Jeong-Do Management, LG’s exceptional behavioral mode, we build capacity steadily and compete fairly based on ethical management.
- Customer-Value Creation
People-Oriented Management -
Management Principles
LG’s management philosophy embraces “Creating Values for Customers” and “People-oriented Management” as the company’s main operating principles.
Vision
LG ultimately aims to be recognized as the industry leader in business performance and management practices.
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Trustworthy to customers
LG inspires customers and wins their recognition through exceptional quality and brand value.
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Attractive to investors
LG yields high returns and is acknowledged by investors as an invaluable company.
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Respectable to job seekers
LG is admired as the ideal workplace where talented individuals work passionately with a sense of ownership.
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Formidable model to competitors
LG is a superior industry leader achieving outstanding performance that competitors wish to learn from.
Behavioral Mode
Under Jeong-Do Management, LG’s exceptional behavioral mode, we build capacity steadily and compete fairly based on ethical management.
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Fair Business
LG provides equal opportunities and fair treatment across all business transactions.
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Integrity
LG ensures transparency by complying with principles and standards.
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Fair Competition
LG builds our capacity to outperform others in fair competition.
LG Code of Ethics
LG shares and believes in two key corporate philosophies: creating value for customers and respecting human dignity. Based on these principles and in the spirit of our Management Charter, we strive to promote self-management with autonomy and responsibility. We uphold the principle of free-market economy that pursues the spirit of free and fair competition. We are committed to becoming an excellent global company by seeking mutual benefits for our stakeholders on the basis of trust and cooperation. To this end, LG established a code of ethics for proper behavior and judgment of values for all members to follow and practice.
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LG believes our customers’ views form the very foundation of our business and always respects them. Our goal is to earn unconditional trust from our customers by continuously creating and providing values that are useful for them.1. Respect for CustomersLG values customers’ views and acknowledges their genuine needs at all times. First and foremost, our decisions and conduct are customer-oriented.2. Creating Value(1) LG always strives to discover values customers need and believes that helping our customers lead to our advancement.(2) LG constantly creates values that genuinely benefit and satisfy customers.3. Providing Value(1) LG is always sincere to customers and keeps our promises.(2) LG offers top-quality products and services at reasonable prices and responds to customer requests with speed and accuracy.
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LG’s global business activities conform to relevant laws and regulations of the host nations. At the same time, we employ only fair and just means in obtaining our competitive advantage in the global market.1. Pursuit of Free Competition(1) LG pursues free competition under the principles of free-market economy and earns our customers’ trust through top-quality products and services.(2) LG competes fairly and capably with our competitors and does not intrude upon their interests or exploit their weaknesses.2. Compliance with Laws and RegulationsLG conducts domestic and overseas business activities in strict accordance with local laws and regulations and with respect for local business customs.
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LG conducts all business transactions based on the principles of fair competition with equal opportunities for all parties. We build trust and cooperative relationships through fair and transparent trade and pursue mutual growth with the partners in the long term.1. Equal Opportunity(1) LG offers equal opportunities to all qualified companies seeking to become our business partners.(2) All applicants are registered and selected in a rational manner following a fair and objective evaluation process.2. Fair Transaction Procedures(1) All business transactions are conducted under equitable circumstances. The terms and procedures of the transaction must be sufficiently discussed between the parties involved.(2) Any abuse of power that results in unfair practices is strictly forbidden.(3) LG exchanges information necessary for business through appropriate procedures in a timely manner. The results are evaluated fairly on a regular basis and complementary measures are mutually taken.3. Support and Aid for Business Partners(1) LG supports the long-term growth of our dealers and vendors by enhancing their competitiveness through technological and managerial assistance. We share the profits derived from business innovations.(2) LG promotes transparent business conditions and maintains fair business systems mutually with our dealers and vendors.
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5. Avoidance of Conflict with Company Interests(1) LG members avoid any individual behaviors or relationships that are in conflict with company interests.(2) LG members do not use company property to pursue their personal interests without prior permission.
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LG respects the human dignity of its members and provides fair treatment based on their abilities and performance. LG also strives to foster creativity among its members.1. Respect for Human Dignity(1) LG treats each member with trust and affection and places a high value on individual human dignity.(2) LG inspires pride and fulfillment in members by instilling a sense of ownership in their jobs.(3) LG establishes fair regulations and educational guidelines necessary for members to perform their duties.2. Fair Treatment(1) LG offers equal opportunities to all members based on their abilities and talent.(2) LG applies fair measures to evaluate the abilities and performance of members and rewards them accordingly.3. Promoting Creativity(1) LG makes utmost efforts to promote a working environment conducive to creative thinking and autonomous behaviors.(2) LG develops and manages its human resources on a long-term basis and gives active support to cultivating members’ abilities.(3) LG creates a mature organizational culture based on mutual trust and understanding that respects personal privacy.
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LG achieves sound growth through rational business operations, thereby protecting stockholders’ interests and contributing to national welfare and social development.1. Rational Business Operations(1) LG respects local social values in Korea and abroad in conducting its business.(2) LG promotes its business expansions based on stable corporate growth.2. Protection of Stockholder InterestLG protects its stockholders’ interests by earning sound profits through effective management.3. Contribution to Social DevelopmentLG contributes to national and social development through creating jobs, paying taxes faithfully, and offering cultural and welfare programs.4. Environmental ConservationLG strives to prevent environmental pollution and employs all measures necessary to conserve precious natural resources.
Operation of Jeong-Do Management
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Operation of Jeong-Do Management
LG Chem operates the Ethics Office directly under the chief executive officer as a dedicated department to systematically implement Jeong-Do Management. LG Chem’s Korea and overseas business sites also have their own Ethics Offices. -
Portal for Jeong-Do Management
LG Chem’s intranet portal provides detailed information about Jeong-Do Management, including the LG Code of Conduct and Q&A. It helps prevent compliance violations caused with accurate guidelines and answers questions that may arise in practicing Jeong-Do Management. -
Education and Promotion of Jeong-Do Management
LG Chem provides training programs for members by job group (purchase, sales, production, and R&D) and title (new recruits, managers, and seniors). The company offers online training programs as well, allowing all members to take Jeong-Do Management courses on a regular basis, and has expanded the scope of training programs to cover overseas members and partners. In addition to training, we do our best to establish the organizational culture of Jeong-Do Management by promoting related activities and sharing specific cases of violation. -
Reporting Procedures on Extortion
LG Chem strictly prohibits its members from receiving any monetary rewards or treatment from the interested parties under any circumstances. It is prohibited to accept any gifts or money for special personal occasions. If the acceptance was due to unavoidable reasons, LG members are required to return them after reporting to the company via reporting procedures on extortion. If this is not possible, they are required to donate them to charitable organizations. If this is also not possible, the company holds an internal auction with the gifts and supports charitable organizations with the proceeds from the auction. -
Pledge to Practice Jeong-Do Management
Every year, all LG Chem members and partners pledge online to comply with the LG Code of Conduct and practice Jeong-Do Management. -
Survey on Jeong-Do Management
LG Chem conducts a survey on Jeong-Do Management every year among its members and partners and utilizes survey results to improve training programs and systems and develop ideas.
Ethics Hotline
LG Chem operates the Ethics Hotline to report any Jeong-Do Management violations or wrongdoings. Executives, employees, or any party concerned may submit a report via online, post, or fax. LG Chem constantly strives to prevent corruption and fraud and improve irrational systems and work processes.
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E-mail
ethicsoffice@lgchem.com
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Tel
+82-1522-9941
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FAX
82-2-3773-7099
Management Philosophy
LG aims to create customer value through business activities and conduct people-oriented business in operating the company.
- Creating Customer Value
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Customer First
- Customers are our top priority as the starting point of business.
- All product quality and performance are evaluated based on the customer-oriented perspective.
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Delivering Practical Values
- We are one step ahead in finding customer needs.
- Our finest products and services exceed customer expectations.
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Innovative Ingenuity
- By thinking outside the box, we encourage fresh ideas.
- We always explore and practice better ways to work.
- People-Oriented Business
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Self-management and Creativity
- In a departure from convention, we pursue new ideas and approaches.
- We have a sense of ownership at the workplace.
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Respect for Human Dignity
- We respect the dignity and diversity of individuals.
- Our members are the most important asset for creating customer value.
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Capacity Building and Maximization
- We aspire to become top of the world and cultivate our capabilities.
- We provide opportunities for individuals to demonstrate their maximum potential.
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Rewarding Performance
- We establish challenging goals and strive to achieve continued success.
- We evaluate and compensate fairly to reward capabilities and short and long-term achievements.
