Lotte Duty Free, First in Industry to Obtain ISO 37301 Certification for Compliance Management System

The First Comprehensive Certification for Compliance Management System in the Domestic Duty-Free Industry

Lotte Duty Free announced on the 12th that it has become the first company in the domestic duty-free industry to receive the International Organization for Standardization (ISO) compliance management system certification 'ISO 37301'.

Lotte Duty Free Myeongdong Main Store exterior view [Photo by Lotte Duty Free].

The compliance management system (ISO 37301) is a standard established by the International Organization for Standardization, which grants certification after evaluating whether a company's compliance management guidelines and legal compliance systems meet global standards and are effectively operated.

Lotte Duty Free previously obtained the anti-corruption and bribery prevention specialized standard by receiving ISO 37001, the anti-corruption management standard, in 2021. This year, by acquiring the international standard ISO 37301 for compliance management, it has proven that it has a comprehensive process to identify and prevent compliance risks in advance.

In July, Lotte Duty Free established a dedicated compliance management organization directly under the CEO and built an integrated management process to proactively block legal risk factors that may arise throughout its business activities. Through this, it has revised policies, internal regulations, and procedures related to the Fair Trade Act, Customs Act, and anti-corruption, and has started operating a risk management system.

In August, Lotte Duty Free announced its compliance slogan. Through this, it aimed to enhance transparency and reliability among internal employees and executives and reaffirmed its commitment to coexist and cooperate with stakeholders such as brand companies and business partners. Lotte Duty Free underwent an on-site audit by BSI KOREA, the Korean branch of the British Standards Institution, to obtain the ISO 37301 certification.

Park Sang-ho, Head of Management Support Division at Lotte Duty Free, said, "This international standard certification recognizes Lotte Duty Free's efforts and systems in practicing compliance management." He added, "We will continue to do our best to become a more trusted 'travel retailer' for customers and stakeholders and take the lead in establishing a culture of compliance management throughout the industry."

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