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  2. Sustainability
  3. Governance
  4. Ethical Management

Governance

Pondering the social responsibility of businesses, LOTTE Chemical has continuously evolved to
create social value. We are committed to driving sustainable growth by creating a safer and sound
working environment for employees, nurturing talent for the future, and pursuing mutual growth
with our partners and communities to build a future where we can grow together based on strong trust
from various stakeholders by setting forth strategic directions that consider social value and expanding our business model.
As a global company, LOTTE Chemical will strive to fulfill its ethical responsibilities that meet the demands of various stakeholders
and the society, andto practice transparent management.

Values Pursued by Ethical Management

Through ethical management, Lotte Chemical seeks sustained development and common interests of the Company and intends to return performance and value to customers, stockholders, suppliers, employees, the nation, and communities by realizing the corporate philosophy of creating a prosperous future.

Building trust and creating the performance through the establishment of ethical management ,Stockholders,Increase in stockholders’ profits and Management transparency,Customer,Providing the best products and servies,Employee,Internalization of ethical management and establishment of the right corporate culture,Partners,Establishing fair trade practive and building the win-win cooperative relationship,Nation & Society,Creation of social values through sound corporate activities

Implementation

Development of a website for ethical management,Sharing of the code of ethics and ethical management of all employees,Operation of Voice of People in the website ,Gathering of opinions and complaints from internal and external stakeholders and quick response,Pledge for Ethical Management,Presentation of employee principles and standards, sending the letter of ethics management, and operation of the gift return center ,Cyber education of ethical management,Weekly education of all employees,Voluntary compliance with fair trade,Generation and distribution of fair trade manual and utilization of internal examination of the fair trade system

Code of Ethics

Trust with Our Customers

Principle of LOTTE

• Providing the Best Products and Services

• Honest Marketing

• Protecting Customer Information Protection

• Protecting Our Brand

Action Plan

• Be the first brand in customers' hearts.

• Honesty is the easiest way of gaining customers' trust.

• Customer information matters the most.

• The best way to represent our brand Lotte to our customers is you.

Trust with Our Employees

Principle of LOTTE

• Equal Opportunity and Fair Treatment

• Mutual Respect among Our Members

• Gender Equality

• Safe Working Environment

• Protecting Our Assets

• Protecting Our Intellectual Property Rights

• Preventing Information Leakage

Action Plan

• We set apart between business and pleasure, and provide fair opportunity.

• We all are someone's precious family.

• LOTTE is working for creating happy families and a fair workplace.

• Safety is the first priority in all circumstances.

• The assets of the company are for all employees.

• We shall protect our intellectual property that we achieved by our sweat and efforts.

• Information leakage begins with minor carelessness.

Trust with Our Partners

Principle of LOTTE

• Compliance with the Fair Trade Act

• Respect for Our Partners

• Fair Competition

• Lawful Information Collection

• Prohibition of Corruption and Improper Solicitation

Action Plan

• Fairness and trust is the power binding us and our partners as one team.

• Mutual respect strengthens the relationship between us and our partners.

• Fair competition makes us stronger.

• Information shall be collected in a lawful way.

• Every favor is followed by a price, no matter how small it may be.

Trust with Our Stockholders

Principle of LOTTE

• Improving Stockholder Value

• Preventing Conflicts of Interest

• Improvement of Accounting Transparency

• Prohibition of In-house Trading

Action Plan

• LOTTE pursues the long-term improvement of stockholder value.

• We think about the interests of the stakeholders.

• Honest reporting makes our effort and passion more valuable.

• We shall not make unfair profit through intercompany trading.

Trust with Society

Principle of LOTTE

• Environmental Protection

• Creation of Social Values and Social Contribution

• Respect for Human Rights

• Respect for Cultural Diversity

• Compliance with the Laws of Each Country

• Separation of Politics and Economy

Action Plan

• Nature is something we have borrowed from our future generation.

• Sharing what is received from the society with society is our biggest pleasure.

• Love and respect for humanity is an important value of Lotte.

• We can earn respect only when we respect others.

• We work to abide by the laws of each country and prevent crimes.

• Politics and economy can fulfill their role when they are separated.

Guidelines for Handling Bribes and Other Benefits

    • Prohibition of receipt of money and entertainment
    • Employees of LOTTE Chemical should not receive monetary favor (including entertainment, hospitality, and convenience) from or make money transaction (including debt, guarantees, and provision of collateral) with any stakeholder (including customer, business partner, and vendor).
    • Employee action concerning gifts and entertainment
    • Refuse any offer politely and explain the LOTTE Personnel Code of Conduct and the prohibition on receiving money or entertainment.
      If the situation forces you to accept it, report it to the Management Improvement Team.
    • Operate Bribe Return Center
    • The Management Improvement Team shall operate the Bribe Return Center to return bribes and other benefits received.
    • Receipt of money and other unauthorized favors
    • Report to the head of division, team manager, or executive in charge → Fill out the report on receipt of money, entertainment, etc. and submit it to the Ethics Office. → Return of received item(LOTTE Chemical donates the item to poor neighbors and social welfare facilities if it is not feasible to return it.) → Report of records to the Management Committee every six months
    • Investigate Misconducts
    • Upon receiving a report of misconduct related to an employee’s or executive’s acceptance of bribes or becoming aware of such violation, it should be processed in accordance with Shinmungo Operation and Case Handling Guidelines.
    • Confidentiality
    • LOTTE Chemical should maintain the confidentiality of the person reporting the violation and actively protect the reporter of violation from any disadvantage.
    • Protection of reporter
    • The Company should actively consider it if a reporter of misconduct requests transfer to another department of change of position to avoid discomfort of disadvantages after making a report.
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