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Sustainability Ethical Management

LG Magna e-Powertrain believes that culture of ethical management -legal and ethical compliance- strengthens transparency and the trust of stakeholders, including customers, which will continue to drive our growth as a global company.

LG Code of Ethics

At LG, we share and believe in two key corporate management philosophies: 「Creating Value for Customers」 and 「People oriented Management」. Based on these philosophies and in the spirit of our Management Charter, we strive to promote autonomous management and responsibilities.

CHAPTER 1 Responsibilities and Obligations to Customers

Our customers form the foundation of our no period and LG will always hold their views in the highest regard. We seek to earn unconditional trust from our customers by continuously providing them with practical value.

1. Respecting Customers

  • We value the opinions of our customers and validate their true needs at all times. We regard our customers as the primary standard for our decisions and conduct.

2. Creating Value

  • We work hard to create value for our customers. Through customer satisfaction, we can build the foundation of our sustainable prosperity.
  • We continuously create practical value that fully benefits and satisfies our customers.

3. Providing Value

  • We are always true to our customers and never fail to keep our word.
  • We offer the highest quality products and services at affordable prices and respond to customers’ requests promptly and accurately.

Chapter 2 Fair Competition

In all its business activities worldwide, LG shall gain competitive advantage through fair methods by respecting the laws and regulations of each region.

1. Pursuing Free Competition

  • We uphold the principles of the free market economic system and pursue open competition around the world. We earn our customers’ trust through top-quality products and services.
  • We compete fairly and capably with our competitors and do not interfere with their interests or exploit their weaknesses.

2. Complying with Laws and Regulations

  • We conduct our domestic and overseas business activities in strict accordance with local laws and regulations, and with respect to local business customs.

Chapter 3 Fair Transactions

All business transactions are based on the principles of fair competition with equal opportunity guaranteed to all entities. We build trust and cooperative relationships through fair and transparent transactions pursuing long-term mutual growth.

1. Equal Opportunity

  • LG offers equal opportunities to all qualified companies seeking to become our business partners.
  • We register and select all applicants in a systematic manner according to a fair and objective evaluation process.

2. Fair Transaction Process

  • We conduct all business transactions under equitable circumstances. The terms and procedures of the transaction are thoroughly discussed between the parties involved.
  • We never engage in any form of unfair transaction taking advantage of any superior position.
  • We exchange transaction information through appropriate procedures in a timely manner. Transaction results are evaluated on a regular basis and mutual cooperation measures are taken.

3. Pursuing Mutual Growth

  • We support the long-term growth of our dealers and vendors by enhancing their competitiveness through technological and managerial assistance. We share the profits derived from business innovations.
  • We pursue mutual efforts and cooperate with our business partners in promoting a healthy business environment and maintaining fair business processes.

Chapter 4 Basic Ethics of Employees

Based on strong beliefs of honesty and fairness, LG employees must build righteous values, continuously develop themselves and perform their duties in a fair manner in order to achieve their assigned missions.

1. Basic Ethics of Employees

  • LG Employees are proud of the Company and always act honestly and fairly.
  • LG Employees strive a high standard of morality and continuously strive to maintain their personal dignity and the Company’s honor.

2. Accomplishing Missions

  • LG Employees accomplish their duties in accordance with the visions and policies of the Company.
  • LG Employees perform assigned duties in the best possible and professional manner while obeying relevant regulations.
  • LG Employees protect and preserve Company’s properties and maintain confidentiality on information gained during employment.
  • LG Employees openly communicate and cooperate with colleagues and related departments to enhance work efficiency.

3. Self-development

  • LG Employees understand the meaning of an ideal employee and constantly strive to meet these standards through self-development.

4. Fair handling of Job

  • LG Employees carry out their duties based on honesty and fairness, always seeking to contribute to fostering a sound business culture.
  • LG Employees do not accept any form of financial benefits from stakeholders that may influence their clear judgement.
  • LG Employees do not engage or unethical behavior in performing their duties.

5. Avoiding Conflict of Interests with the Company

  • LG Employees avoid personal behaviors or relationships that are in conflict with the Company’s interests.
  • LG Employees do not use the Company properties to pursue personal interests.

Chapter 5 Corporate Responsibilities for Employees

All LG Employees are respected as dignified individuals, treated fairly according to abilities and achievements and encouraged to demonstrate creativity to its full extent.

1. Respecting Humanity

  • LG treats each employee with warmth and trust and values every individual’s dignity.
  • LG makes every effort to help employees feel pride and personal fulfillment by giving them a sense of ownership in their jobs.
  • LG has established regulations and educational guidelines and takes necessary actions to assist employees in performing their duties in a fair and effective manner.

2. Fair Treatment

  • LG offers equal opportunities to all employees based on their abilities and talents.
  • LG evaluates the abilities and performance of its employees using fair means and rewards.

3. Promoting Creativity

  • LG makes every effort to create a working environment conducive to creative thinking and autonomous behavior.
  • LG actively develops employee abilities and manages its human resources based on a long term plan.
  • LG respects personal lifestyles and creates a developed organizational culture through mutual trust and understanding.

Chapter 6 Responsibility to the Nation and Society

LG protects the profits of stockholders as a sound corporation through the execution of healthy business, contributes to social development and increases the well-being of citizens.

1. Rational Business Operation

  • LG conducts its business respecting local social values in all regions in the domestic and international markets.
  • LG promotes its business expansion based on stable corporate growth.

2. Protecting Stockholders’ Returns

  • LG protects its stockholders’ interests by earning healthy profits through effective management.

3. Contributing to Social Development

  • LG contributes to national and social development through job creation, tax contributions, and the promotion of cultural and welfare programs.

4. Conservation of the Environment

  • LG works hard to prevent environmental pollution and employs every measure necessary to preserve the natural environment.

Reporting Fraud And Corruption

The types of report include:

  • manipulation of documents or figures
  • false reporting
  • act of receiving favors from stakeholders
  • lack of transparency in the selection of business partners
  • unfair share participation related to client companies
  • illegal or unfair use of LG assets, etc.

However, untruthful slander or details related to individual’s private life are not applicable.

Once you have submitted a report, you will receive a response in a minimum of 7 to 10 days. This time period allows us to carry out the verification process, which includes investigations into the related department, etc.

Informer Protection

No information either directly or indirectly related to the informer will be disclosed without the prior consent of the informer. Any adverse effect on the informer resulting from the Company’s failure to protect such information will be compensated, and the Company shall take appropriate responsibility.