to ensure fair trade and compliance to the rules.
Lotte Duty Free Shop, as a leading company in the industry,
has introduced and operated the Compliance Program (CP)
in May 2014 to fulfill its social responsibility and to enable mutual growth with its partners.
Lotte DFS will continue to strive to create a fair and trustable corporate culture.
The Concept of Compliance Program
The Compliance Program refers to a system and code of conduct to encourage employees to observe the fair trade rules on a voluntary basis.
The Fair Trade Commission promotes voluntary observance to the fair trade rules by alleviating the level of punishment for a company that has its compliance program in place and operation if it engages in an act of violation.
Core Factors of CP
The management’s clear intention for voluntary compliance
The CEO’s commitment to voluntary compliance in connection with fair trade should be affirmed both inside and outside of the company
Designation Utilization of CP Manager
The Compliance Program Manager for the executive level who has substantial authority and responsibility should be appointed
Writing Distribution of the CP Guide
The CP implementation guide with a focus on actual cases should be drawn to ensure compliance to the fair trade rules.
Establishment of Document Management System
A personnel in charge of CP document management should be appointed to obtain correct and up-to-date information.
Operation of Education Program
Education, which is commensurate with the characteristics of the different departments, should be carried out for at least two hours on a six-month basis.
Operation of Internal Oversight System
An oversight system to prevent possible corruption cases should be in place and such case should be reported to the board of directors.
Punishment for Employees in Violation of the Compliance Code
Disciplinary actions commensurate with the severity of the violation including disadvantages with personnel matters should be taken.