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Fair Trade

Message from
CEO

Greetings, dear LOTTE DUTY FREE Family!

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.

LEE KAP,
CEO of LOTTE DUTY FREE

Message from
Compliance Director

Message from Compliance Director Greetings,

I'm sure you've heard of the story of Hans Brinker, a Dutch boy who saves his village by putting his finger in a leaking dike. The boy saw the leaking dike and first put his finger in, then his fist, then his entire body to save his village.

The moral of the story stands strong even today. First, the story shows that early intervention can prevent a great danger with a small effort. Because the boy spotted the small hole and took action, he was able to stop the dike from collapsing even with his petite body. If the hole went unnoticed or overlooked until it was too late, he wouldn't have prevented the collapse by himself, potentially leading to irreversible harm to the village..

Another lesson is the significance of not underestimating an individual's influence within an organization. We often undervalue the impact of each individual in our organization because their contribution is not readily acknowledged.

If such a tendency prevails within an organization, it can give rise to two detrimental attitudes: complacency, where individuals may ask themselves, "Will my misconduct truly jeopardize the company?" and passivity, where they may question, "Will my efforts genuinely impact the company's success?" In the long run, this can pose challenges in effective risk management and impede the organization's growth. Much like the young boy who rescued the entire village, we should take to heart the lesson that each of us holds the potential to wield positive influence.

Lately, corporate management has broadened the scope of compliance, extending it beyond legal obligations like anti-corruption and fair trade to encompass corporate ethics. This extended perspective goes beyond passive adherence to mandated norms and principles; it involves building a trust-based community through proactive communication with diverse stakeholders and respecting their opinions.

To achieve this goal, all Lotte Duty Free employees must collectively embrace the concept of ethical management. I strongly encourage each of you to actively commit to ethical management in your repective roles, thus solidifying compliance as an integral part of our corporate culture, rather than a mere slogan. Thank you.

PARK SANGHO,
Complaince Director

Guide for
LOTTE DUTY FREE’s Employees

01

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.

02

Employees should tighten the compliance monitoring, auditing, and reporting system under the supervision of the Fair Trade Compliance Director.

03

Employees should participate in educational programs for improving their understanding on fair trade.