Tightened Code of Conduct and Preventive Process
LG Chem has established and announced the Code of Conduct for suppliers since 2016. The Code of Conduct for suppliers consists of the following matters that the suppliers must adhere to: human rights, labor, ethical management, health, safety, environmental sustainability, responsible mineral procurement, and grievance syste.
LG Chem proactively validates the propriety of supply chain management systems from the selection of new suppliers based on the Supplier Code of Conduct and continuously manages the risk of supply chain through regular CSR evaluation and monitoring. The Code of Conduct for suppliers is diclosed via the LG Chem website and the procurement portal.
In addition to tichtening the Code of Conduct for suppliers, LG Chem is making efforts to establish a risk prevention process to find a variety of risk factors in the supply chain in advance. LG Chem made efforts to enhance the transparncy of the supply chain by establishing and applying blockchain based platform that can be neither manipulated nor hacked due to its distributed data storage. LG Chem will coplete automatic interworking between the blockchain and supply chain tracking data in order to prevent fundamentally a variety potential risks generated during production of raw materials.