Compliance Management

Fair Trade Compliance Program

Fair Trade Compliance Program is an internal compliance system related to education and supervision that Lotte Global Logistics establishes and operates autonomously to comply with laws and regulations on fair trade.

Fair Trade Compliance Program (CP)

What CP means?
  • CP is an acronym for compliance and program. It means a compliance system that companies operate to comply with laws and regulations on fair trade* autonomously.
  • CP presents clear behavioral standards for conforming to the law to companies and also helps prevent violations of the law early.

What laws and regulations on fair trade mean?
Laws and regulations on fair trade mean relevant laws and regulations that have been enacted to encourage competition and maintain fair trade order, such as Monopoly Regulation and Fair Trade Act, Fair Transactions in Subcontracting Act, and Act on the Regulation of Terms and Conditions.

Fair Trade Compliance Program
Enhancement of domestic and foreign creditworthiness
Incentives such as reduction of penalties
Advanced prevention of corporate losses
Global standards
Risk management

Eight principles of CP

  • 1The company should establish the foundation for introduction of a compliance program.
  • 2The company should declare its management’s willingness for compliance at home and abroad.
  • 3The company should designate compliance managers.
  • 4The company should make a compliance handbook and distribute it to executives and staff.
  • 5The company should implement education related to fair trade to executives and staff.
  • 6The company should conduct monitoring to prevent violations of the law in advance.
  • 7The company should impose sanctions on executives and staff who have violated laws and regulations on fair trade.
  • 8The company should operate its compliance program effectively.