LOTTE Chemical Acquires Compliance Management System International Standard Certification (ISO 37301)

■ Recognized for construction and operation, etc. of compliance management policy and management system meeting global standards

■ President Kim Gyo-hyun "We will expand the compliance management culture trusted by employees and stakeholders"

LOTTE Chemical (CEO Kim Gyo-hyun) announced on the 5th that it had acquired Compliance Management System International Standard ISO 37301 from the Korean Management Registrar, which is an official certification institute.

ISO 37301 is an international standard related to compliance management enacted by the International Standard Organization (ISO) in April 2021. It is a global certification that evaluates whether a company possesses systematic compliance management policies and risk management systems that can help it respond to legal risks in its management.

LOTTE Chemical newly installed a compliance team in its compliance management office directly under the CEO in 2018 and became the first Korean petrochemical company in 2019 to operate industry-leading compliance management system by acquiring the anti-corruption management system international standard, ISO 37001 certification.

Prior to acquiring this certification, LOTTE Chemical inspected the compliance management process such as diagnosing and evaluating compliance management risks per department, while carrying out company-wide activities such as selecting and operating internal reviewers, expanding employee training, and promoting campaigns. Such efforts were recognized, thus receiving certification.

LOTTE Chemical President Kim Gyo-hyun commented, “Acquisition of ISO 37301 certification was received in recognition of the will and efforts toward compliance management in accordance to global standards,” and “We will expand our compliance management culture that is trusted by employees and stakeholders to establish a basis for continuous growth of the company.”