Lotte Shopping Obtains ISO 37301 Certification "Compliance Monitoring System Upgraded"

Establishing a Compliance Management System for Legal Oversight
"Rare Cases in Distribution Industry, Proactive Response Aligned with Global Standards Praised"

[Asia Economy Reporter Yuri Kim] Lotte Shopping announced on the 23rd that it obtained the ISO 37301 certification, an international standard for compliance management systems, from the British Standards Institution (BSI) on the 20th.

ISO 37301 is an international standard established by the International Organization for Standardization in April 2021. It evaluates whether an organization has properly established and operates a systematic system to protect the organization and its employees from potential compliance risks that may arise in corporate management. Along with ISO 37001 (Anti-Bribery Management System), it is a representative global compliance management system certification standard.

While industries with high global regulatory barriers such as energy and pharmaceuticals have cases of obtaining ISO 37301 certification since its establishment last year, such cases are rare in the distribution industry and this is regarded as a proactive measure.

As the global standard level for compliance management has risen, Lotte Shopping pursued this certification to raise the compliance monitoring system level of all business divisions within Lotte Shopping, including Lotte Department Store and Lotte Mart, by one step and to enable proactive responses simultaneously.

Meanwhile, since Lotte Shopping first obtained ISO 37001 certification in the department store industry in 2018, it has continuously supplemented and improved its compliance system through annual external audits. Through this certification, it has expanded the scope to major compliance risk areas such as anti-corruption, fair trade, and industrial safety, establishing a proactive compliance monitoring system.

Kim Sang-hyun, CEO (Vice Chairman) of Lotte Shopping, said, "Lotte Shopping has continuously improved its compliance system through risk assessment, monitoring, and external audits, and with this certification acquisition, we have established a more advanced compliance management system." He added, "Based on this, we will further strengthen ESG (Environmental, Social, and Governance) management and become a company that has a positive social impact."

This content was produced with the assistance of AI translation services.