Lotte Chemical Obtains Integrated Certification for 'Compliance and Anti-Corruption' Management System

Lee Hoon-ki, CEO of Lotte Chemical, and Hwang Eun-joo, President of the Korea Management Certification Institute, are posing for a commemorative photo at the compliance and anti-corruption management system certification ceremony. Photo by Lotte Chemical

Lotte Chemical announced on the 24th that it has obtained integrated certification for the International Standard Compliance Management System (ISO 37301) and Anti-Corruption Management System (ISO 37001) from the accredited certification body Korea Management Registrar (KMR).

ISO 37301 and ISO 37001 are international standard certifications that evaluate whether corporate management systems systematically manage and operate compliance and anti-corruption requirements set by the International Organization for Standardization (ISO). These certifications require companies to identify, control, and manage potential risks such as legal violations and corruption that may arise in business activities in advance. Companies that receive these certifications assign roles and responsibilities for anti-corruption and ethical management to all employees.

In 2018, Lotte Chemical established a Compliance Team within the Compliance Management Headquarters directly under the CEO. The company has built and operates a compliance system that meets global standards. Additionally, based on efforts in compliance management, including obtaining ISO 37001 certification in 2019 as the first domestic petrochemical company to do so, Lotte Chemical is striving to establish an ESG management environment.

Based on its industry-leading compliance management system, Lotte Chemical achieved an A rating in the 2024 ESG evaluation announced by the global rating agency MSCI (Morgan Stanley Capital International) last May, an improvement from the previous BBB rating.

Lee Hoon-ki, CEO of Lotte Chemical, stated, "With this integrated certification acquisition, we expect that various compliance, anti-corruption, and integrity activities promoted by Lotte Chemical will advance to the next level." He added, "Since corporate ethics and compliance management are essential, we will strive to become a more trusted company by establishing a management system that meets international standards."

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