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Ethical management

Ethical management is the basic element that underpins the corporation, and a must for maximizing corporate values.

  • Ethical management activities
  • Code of Ethics

Ethical management organization and system

사이버 신문고 운영

Online Report Center

  • Receives reports concerning unfair business practices of internal and external stakeholders to facilitate a quick response to them
윤리경영 홈페이지 구축

Building of the ethical management homepage

  • Introduces the full text of the LS Code of Ethics to all stakeholders, and invigorates the practice thereof
  • Introduces the ethical management practice program
클린컴퍼니 제도

Clean company system

  • Voluntarily reports according to the standards for behavior and value judgment in the commentary on the 「Basic ethics required by employees」
임직원 교육 실시

Employee education

  • Provides annual ethical management education
  • Produces and distributes the ethical management guidebook (code of conduct)
임직원 교육 실시

Ethical level evaluation

  • Checks the ethical awareness level of employees annually
  • Identifies improvements for ethical management activities and reflects them into management activities

Full text of the Code of Ethics

Chapter 1. Responsibilities and obligations to customers

LS Cable & System always respects customers’ opinions, and constantly creates values helpful to customers to win their trust.

1. Respect for customers
  • We listen to customers’ opinions, and think that customers’ requests are always right.
  • We make customer satisfaction the overriding standard of all judgments and actions.
2. Providing truthful information
  • We do not spread or provide false information to customers.
  • We do not hide what customers need to know.
  • We do not slander competitive products or make baseless comparisons.
3. Responding to customers
  • We always keep our promises with customers.
  • When a customer requests service, an exchange or a return, we must quickly respond to the request.
4. Providing values for customers
  • We always provide the best products and services through endless technology development and quality improvement.
5. Protecting customers’ interests
  • We protect customers’ properties as if they were ours, and do not use them arbitrarily.
  • When we acquire information related to customers, we will not use or divulge it without permission.
  • We do not engage in immoral acts that harm the interests of customers.
6. Self-development
  • We will strive for self-development to become a desirable asset in the era of globalization.
  • We will strive to be the best expert in our jobs.

Chapter 2 Basic ethics of employees

Employees’ violation of the ethical standards of the company may be grounds for disciplinary action, including dismissal or a lawsuit in court.

1. Prohibition of unfair practices using their position or duties
  • Employees never receive promises of employment after retirement from stakeholders nor any demands made of them while in service and on duty.
  • Employees do not enter into personal business contracts or engage in transactions, such as asset leasing or monetary loan, with stakeholders while on duty.
  • Superiors do not make the organization or subordinates do their personal business or implicitly request them to do so.
2. Honest and fair reporting
  • Employees do not mislead the decision-making of superiors and related departments by falsifying documents or numbers, or making false reports.
3. Maintaining dignity
  • Employees are not to engage in immoral or unethical actions that may damage the company's reputation.
  • Employees should not promote any trend of mutual distrust, e.g. creation and dissemination of rumors, or engage in actions that undermine organizational cohesion.
4. Avoiding conflicts of interest with the company
  • Employees are prohibited from directly operating or investing in any external company that may have a conflict of interest with the company.
  • Employees should not engage or invest in the operation of a business or vendor that has an interest in the job they are in charge of without prior consultation with the company.
  • Employees should not be double employed by any of the company's competitors or vendors, or provide them with counseling or advice that conflicts with the interests of the company.
  • If employees are hired by another company, they must report it to the company and consult with the company in advance.
5. Preventing sexual harassment in the workplace
  • Employees should always be careful, keeping in mind that your words and actions can cause mental and physical harm to others.
  • Employees should not interfere with their company life or infringe on the personality of others due to sexual harassment within the company regardless of their positions.
6. Self-development
  • Employees will strive for self-development to become a desirable asset in the era of globalization.
  • Employees will strive to be the best expert in their jobs.

Chapter 3. Fair competition (competitor)

LS Cable & System complies with all local laws and regulations in all its business activities in which it is engaged around the world, and secures a competitive edge in a fair manner.

1. Acquisition and use of legitimate information
  • We do not acquire competitors’ information or trade secrets in an unfair manner.
  • Even if competitors’ information has been acquired legitimately, we do not disclose it to the outside world in an unfair manner.
2. Securing a competitive edge in a fair manner
  • We never steal the tangible and intangible assets of any competitors.
  • We do not infringe on the tangible and intangible assets of competitors in any field without permission.
  • We do not slander competitors through advertisements, etc.
3. No collusion
  • We never collude with competitors on sale prices, sale conditions and regional distribution.
  • We do not form or join any unfair consultative body or collusive mechanism with business partners in the same trade.
4. Respect for laws and commercial practices
  • All business activities, domestic and overseas, comply with all the laws and regulations of respective countries and respect their trade customs.
  • We comply with the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions of the Organization for Economic Cooperation and Development (OECD) and the Act on Combating Bribery of Foreign Public Officials in International Business Transactions of the Republic of Korea.

Chapter 4. Fair transactions (vendors)

We must guarantee equal opportunities for participation in all transactions, and seek mutual growth by building mutual trust and cooperative relationships through transparent transactions.

1. Selection of business partners according to fair procedures
  • We establish and implement all regulations and systems related to business partner selection procedures so that business partners can be selected and registered according to fair evaluation criteria.
2. Fair transactions and evaluation
  • We notify business partners of the fairly evaluated transaction results and reflect them in the next transaction.
  • We reflect sound opinions presented for improvements and innovation concerning our business transactions and practices.
  • If we use a business partner’s technology or other assets, we must first obtain approval from them
  • If a business partner suffers damage due to an apparent mistake attributable to us, we must compensate for it fairly.
  • We do not engage in unfair acts prohibited by fair trade laws.
3. Maintaining a clean trade order
  • We do not receive or request economic benefits such as money, goods, services, entertainment, or other conveniences from business partners.
  • In connection with transactions, we do not apply any external pressure by making any solicitation based on special relationships such as blood, kinship or academic ties, or by taking advantage of business status.
  • We do not interfere with a vendor's business activities by using its information and technology that we acquired in the course of transaction without explicit prior approval.
4. Support for business partners
  • For substantial development of vendors, we must establish and follow guidelines for vendor development.
  • The above guidelines should specify the qualifications, rights and obligations of vendors, and include operational standards for substantial development, e.g. technical support and management guidance.

Chapter 5. The company’s responsibility to employees

LS Cable & System respects all employees as individuals, treats them fairly according to their abilities and achievements, and strives to enable them to fully demonstrate their innate creative potential.

1. Human resource development
  • We establish, support, and invigorate necessary systems to develop employees into autonomous and creative talents.
  • With the will to develop their subordinates into passionate and strong talents, superiors do not spare necessary advice and guidance in consideration of the aptitudes and talents of their subordinates.
2. Treatment based on ability and achievement
  • We provide equal opportunities for employees to improve their abilities, and do not discriminate based on educational background, gender, age, or region of origin.
  • We create a fair competitive climate by establishing and disclosing clear evaluation standards for capabilities and achievements and strictly observe them.
3. Guarantee of sound expression of opinion
  • We foster the necessary system and atmosphere in which employees can freely make suggestions and recommendations, and talk about their difficulties.
4. Responsibility for health and safety
  • We take necessary measures to ensure employees’ health and safety at work.
  • We take necessary safety measures if there are any dangerous and harmful substances in the workplace.

Chapter 6. Responsibilities to the state and society

LS Cable & System contributes to the affluent life of the people and social development by conducting business rationally and thus growing into a sound enterprise.

1. Prohibition of immoral and anti-social corporate activities
  • We do not engage in any act that harms the national economy, such as smuggling or real estate speculation, or creates a sense of incongruity with public sentiment.
2. Contributions to national and social development
  • We provide equal employment opportunities to all without discrimination based on educational background, gender or region of origin.
  • We report and pay taxes faithfully.
  • We comply with legitimate demands from all walks of life and local residents, and do our best to find amenable solutions.
  • We ensure and encourage employees’ participation in sound community service activities.
3. Protection of shareholder interests
  • We respect shareholders' right to know, fair requests, proposals and official decisions.
  • We do not trade stocks using internal or other company information acquired on the job.
  • To protect the interests of large shareholders, we do not unilaterally infringe on the interests of minority shareholders.
4. Protection of the environment
  • Business activities that go against environmental protection are prohibited, and investments must be made to prevent pollution and contamination.
  • We actively engage in environmental protection activities for environmental preservation and comply with all laws and regulations related to environmental protection.

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