LS Group has simultaneously obtained international standard certifications in anti-corruption and compliance. Following major affiliates, the holding company, LS Corp., has strengthened its group-wide compliance management system.
On September 30, LS Corp. announced that it received integrated certification for 'ISO 37001' and 'ISO 37301' from the Korea Compliance Standards Institute at the LS Yongsan Tower in Seoul.
ISO 37001 evaluates a company's anti-corruption management system, while ISO 37301 assesses whether a company has a management system in place to continuously comply with relevant laws and internal regulations. As LS expands its overseas operations, particularly in North America with 17 business locations across nine states, the need for group-level compliance management to address various national regulations and business norms has grown.
This certification process was directly led by Vice Chairman Myung No-hyun. Over several months, LS completely overhauled its existing compliance system, establishing new anti-corruption and compliance policies, conducting risk assessments by business unit, and implementing improvement procedures. The company also revamped its internal monitoring and auditing processes and expanded training for employees and internal auditors.
Vice Chairman Myung has emphasized transparency and responsible management throughout the group's operations. This year, he has identified the expansion of North American power and energy businesses and diversification of the business portfolio as key priorities, reinforcing the need for an internal management system that aligns with global business expansion.
Certification efforts are also being expanded at the affiliate level. Following the adoption of relevant international standards by LS Cable, LS Electric, and INVENI, the holding company has now received integrated certification. LS Electric obtained ISO 37301 certification last year.
LS plans to utilize this certification to respond to domestic and international ESG evaluations and manage business risks. The company aims to continuously strengthen its compliance management system by spreading internal control procedures aligned with international standards across all affiliates.
An LS representative stated, "As a result of establishing a compliance management system that meets the demands of the global business environment, we will continue to develop a compliance culture to establish an ethical management system that earns the trust of investors and stakeholders."
* This article has been translated by AI.
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