LS Group Strengthens Ethical Management System... LS Corp. Certified to International Standards

[Financial News] LS Group is further strengthening its group-wide ethics and compliance management system based on international standard certifications. With LS Corp., the holding company, following its major subsidiaries in acquiring international standard certifications related to anti-corruption and compliance, the group plans to expand its compliance system aligned with global standards across the entire group.
LS Corp. announced on the 1st that it had obtained integrated certification from the Korea Compliance Standards Institute for the 'Anti-Bribery Management System (ISO 37001)' and 'Compliance Management System (ISO 37301)' established by the International Organization for Standardization (ISO).
On the 30th, LS Group held the 'ISO 37001 and ISO 37301 Integrated Certification Award Ceremony' at LS Yongsan Tower in Seoul, attended by key executives and employees of LS Corp., including Vice Chairman Myung Noh-hyun, as well as officials from the Korea Compliance Standards Institute, including Chairman Park Jae-kyu.
The ISO 37001 and ISO 37301 certifications recently acquired by LS Group are international standard certifications that evaluate whether a company applies the anti-corruption and compliance standards presented by the International Organization for Standardization (ISO) to its management system and operates and manages them continuously and systematically. Based on this, LS Group plans to proactively respond to domestic and international environmental, social, and governance (ESG) assessments to enhance corporate value and continuously strengthen its company-wide ethical management stance.
Under the leadership of Vice Chairman Myung Noh-hyun, LS Group has consistently emphasized group-wide compliance management and completely overhauled its company-wide compliance system over the past several months to obtain this integrated certification. Through this effort, it established a management framework aligned with global guidelines, including the enactment of anti-corruption and compliance policies, risk assessment and improvement, the establishment of monitoring and internal audit procedures, and compliance training for employees and the development of internal auditors.
With major affiliates such as LSCUS, LS ELECTRIC Co., Ltd., and Inveni Co., Ltd. adopting the relevant standards, and LS Corp. also receiving integrated certification, expectations are high that the foundation for expanding compliance management across the group will be strengthened.
"This certification is the result of external validation that LS Corp. has established a compliance management system at the rigorous level required by the global business environment," an LS Group official said. "Going forward, we will continue to develop a culture of voluntary compliance, adhere to laws and principles, and establish an ethical management system trusted by investors and stakeholders."

[email protected] Im Soo-bin Reporter