In few days, the current year will be passed, and a new year will come. We would like to express our gratitude to all of our employees who have helped each other get through these difficult times.
2020 was an exceptionally difficult year for us. Due to the COVID-19 pandemic that will definitely leave a mark in world history, air traffic has been blocked and duty-free industry faced unprecedented difficulties. Yet the end of these hardships still feels out of reach. The pain of the present cannot be compared to the glory that the future will bring us. It has been a difficult year, but now is the time to look forward to a promising tomorrow.
In 2021, we need to examine ourselves to see if we neglected any parts of compliance or ethical management. It's time to reflect on whether we have allowed minor irregularities or expediency due to the COVID-19 pandemic.
We ask that all of you not only to have an accurate understanding of relevant laws and regulations, but also to have compliance to it and make an active effort in becoming leading agents in establishing a transparent corporate culture.
Thank you for your hard work this year. Thank you.
CEO of LOTTE DUTY FREE
Thanks you all the years we have worked together for supporting LOTTE DUTY FREE go beyond Korean product, brand, and service markets and become the top duty-free retailer leading Asia. After adopting the Fair Trade Compliance Program in 2014, LOTTE DUTY FREE develops a code of ethics and helps employees implement the code correctly to build and strengthen trust with customers and partners. These positive forces push LOTTE DUTY FREE toward a healthy corporate culture based on fair trade principles.
Today, having a transparent and ethical culture is no longer an option but a requirement for survival. Only companies fulfilling their social responsibilities through ethical practices can stay ahead of competition and earn loyalty from customers and stakeholders. Understanding and participation of all employees including the CEO and the Compliance Director is the key to maintain an ethical business environment. In addition to having a strong ethic, applying the work ethic to daily life is pathway to foster a strong ethical culture. I hope every employee of LOTTE DUTY FREE support the improvement of the company’s ethical climate. The doors of the Compliance Director’s Office are always open. Thank you very much.
Employees should understand that implementation of fair trade and mutual growth with partners are key factors that give the company a competitive edge stay competitive and try not to engage in any unfair or unjust activities.
Employees should tighten the compliance monitoring, auditing, and reporting system under the supervision of the Fair Trade Compliance Director.
Employees should participate in educational programs for improving their understanding on fair trade.