Compliance Program

Compliance program overview

What is the Compliance program?

The Compliance Program is intended to prevent legal risks in advance by employees to comply with all related laws and regulations when performing tasks.

The Compliance Program focus on preventive rather than reactive response to violations.

Manual deployment by making clear standards of conduct for the regulation and compliance through education, self-checking and monitoring represents a comprehensive and systematic activities to prevent in advance the risk of violating laws.

7 key components of Compliance program 7 key components

7 key components of Compliance program 7 key components
Expression of top management's commitment to compliance
the Chief Compliance Officer
Drafting and publishing of Compliance Handbook
Training
Establishment of monitoring system
Disciplinary Actions to violations
Establishment of document management system

For last 40 years, LIG NEX1 has continuously striven to ensure a business principle maintaining compliance with laws and ethics, and to create a fair and transparent business environment.
We are well aware from various global cases that if any violation case occurred, it would not be ended of small punishment, but it would be led to the massive financial losses and serious damages of the company's reputation.

In consideration of this trend as well as willing to be a socially responsible company through fair competition, LIG NEX1 would like to introduce the Compliance Program and avow our principle of legal compliance.
With establishment of Compliance Team, we will strengthen well-organized basis of compliance program which is relevant to laws such as fair trade, subcontract, anti-corruption, and protection of military secrets. Also we will continue to strive to put compliance culture in place throughout the company.

With the strong belief that truly sustainable competitiveness would only come from growth upon fair trade, all of LIG NEX1 family will keep principle of compliance management to make trustful company.

CEO, LIG NEX1
Kim  Jichan

For last 40 years, LIG NEX1 has fulfilled the principle of ethical and harmonious management.

We will keep such principle in all business transaction, and each of the LIG NEX1 family will continue to strive to establish
a culture of fair trade and legal compliance.
Honesty, Transparency, and Legal Compliance is an essential value to be kept.

We will compete fairly under the principle of free competition, in full compliance with relevant laws and regulations.
Even in the midst of ever-intensifying competition, LIG NEX1 aim to be a good company,not to be tempted into
short-term profit.
A good company does not tempted by small profit.
A good company grows along with its interested parties.
A good company treats legal compliance as a core value of sustainability.

Based on its compliance program, LIG NEX1 will assess the possibility of legal risk, prevent it in advance, and conduct various activities in order to ensure the robust compliance culture takes root in the company.

Fair business culture will serve as a cornerstone, which establish transparent business culture and enhance competitiveness in global market.Furthermore we will do our utmost to create a clean and transparent corporate culture to be a company with trust.

Chief Compliance Officer, LIG NEX1
Lee  Sung-Yong