A company that fulfills its social responsibility for a fair market order
Lotte Rental introduces and operates Fair Trade Compliance Program for transparent and fair transactions throughout the industry
The Fair Trade Compliance Program is a system that allows employees to voluntarily improve their compliance awareness and ethical awareness by providing concrete action standards to comply with relevant laws and compliance with ethical standards.
8 Elements of Fair Trade Compliance Program (CP)Establish standards and procedures of Fair Trade Compliance Program
Clarify the willingness of CEO to follow the Fair Trade Compliance Program
Assign management of the Fair Trade Compliance Program
Establish a handbook for the Fair Trade Compliance
Conduct continuous education program
Establish an internal management system
Establish restrictions for violation
Evaluate and improve effectiveness
Lotte Rental aims to grow as a trustworthy company through business management
in compliance with laws and ethical standards in our society.
Voluntary compliance management is beyond just sticking to laws and regulations
but rather taking full responsibility for our business activities and honoring ethical standards.
This is a pivotal condition for the sustainable growth of Lotte Rental and earning trust from our stakeholders.
As our business expands, we are facing greater demands on strict compliance with fair trade laws and practices so that our stakeholders, including customers, can be protected under the principle of free and fair competition.
Therefore, Lotte Rental will continuously provide education and improve systems to ensure that officers and employees understand the importance of voluntary compliance and can put it into practice. We ask officers and employees to take an active interest and make efforts to apply these principles in their work.
Lotte Rental has internally built the anti-bribery management system and the compliance management system
and successfully obtained the relevant certifications ISO 37001 and ISO 37301.
We will continuously operate and manage these compliance management systems in accordance with the global ISO management standards that verify transparency of our corporate activities.
We urge our officers and employees to understand the necessity of voluntary compliance with fair trade practices and be fully aware of our company’s internal policies and procedures so that any violation of fair trade laws and regulation can be avoided in the course of their work.
Through these efforts, Lotte Rental will always take the initiative for our legal and social environments
while providing our own competitive services balanced with compliance management.
Through these efforts to voluntarily comply with fair trade practices, the company aims to provide excellent service to customers
while also fulfilling its social responsibilities.
Through full realization of such principles, Lotte Rental will always seek sustainable growth in our business.
March 2025
- CEO
- Compliance Manager
- Compliance Office
(Compliance
Division) - Compliance
manager for each
business sector
- ·Fair Trade Hotline
-
Voluntary Compliance
Council
2016.
-
Oct
Introduction of the Lotte Rental Compliance Program.
Representative director’s declaration of voluntary compliance.
Appointment of the voluntary compliance officer.
Establishment of the operating rules and regulations on the voluntary compliance program.
Production and distribution of the handbook for voluntary compliance with fair trade practices.
2018.
- Jan Creation of the organization in charge of Lotte Rental Compliance Program (Compliance Management Team).
- Jun Implementation of fair trade education to the department managers in the first half year.
- Jul Statement of oath for compliance provided by all officers and employees.
- Aug Establishment of the compliance guidelines for selecting and managing business partners.
- Dec Implementation of fair trade education to the department managers in the second half year.
2019.
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Mar Amendment of the handbook for voluntary compliance with fair trade practices.
Representative director’s re-declaration of voluntary compliance. - Jun Implementation of fair trade education to the department managers in the first half year.
- Aug Statement of oath for compliance provided by all officers and employees.
2020.
- May Implementation of fair trade education to the department managers in the first half year.
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Aug Implementation of fair trade education to the executive officers in the first half year.
Statement of oath for compliance provided by all officers and employees. - Oct Implementation of fair trade education in work sites.
- Nov Implementation of fair trade education to the department managers in the second half year.
- Dec Obtainment of the external evaluation on Lotte Rental’s operation of the compliance program (through the grade evaluation by the Korea Fair Trade Mediation Agency).
2021.
- Mar Amendment of the operating rules and regulations on the voluntary compliance program.
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Apr Establishment and operation of the council for voluntary compliance.
Implementation of fair trade education to the executive officers in the first half year. - May Implementation of fair trade education to the department managers in the first half year.
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Jul Statement of oath for compliance provided by all officers and employees.
Amendment of the handbook for voluntary compliance with fair trade practices. - Sep Publishment and distribution of the handbook for voluntary compliance to all employees.
- Oct Establishment of the internal policy and guideline for reviewing contracts and laws.
2022.
- Apr Establishment of the department of compliance management.
- Jul Implementation of risk evaluation for fair trade practices.
-
Sep Implementation of fair trade education to the voluntary compliance officer of each department.
Implementation of compliance education to the executive officers.
Introduction of the compliance management portal system. -
Dec Reformation of the compliance management bulletin board at the website of Lotte Rental.
Reformation of the whistleblowing system for fair trade practices.
Official enforcement of the company-wide rules.
2023.
- Jan Statement of oath for maintaining integrity provided by the executive officers.
- Mar Evaluation of major risks related to the company-wide compliance system.
- Apr Delivery of the compliance letter to the executive officers.
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Jun Implementation of the compliance management campaign.
Amendment of the operational rules of the Transparent Management Committee. - July 1st meeting of the Compliance Committee.
- Sep Statement of oath for compliance provided by all officers and employees.
- Oct 2nd meeting of the Compliance Committee.
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Nov Status review of litigations involved by overseas subsidiaries.
Amendment of the standard form of the forklift lease agreement. - Dec Establishment of the guidelines on legal matters including appointment legal counsel.
2024.
- Jan 3rd meeting of the Compliance Committee.
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Feb Establishment of the internal policies on procedures for donation and sponsorship.
Report to the board of directors of the 2024 annual compliance plan.
Distribution of the CEO letter regarding Lotte Rental Lunar New Year Clean Campaign. - Mar Monitoring of the processes for managing contractual documents.
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Apr Establishment of the standards for compliance cooperation with overseas subsidiaries.
4th meeting of the Compliance Committee. -
May Establishment of the ISO 37301 & 37001.
management system and obtainment of the ISO certifications.
Amendment of the operational rules on the anti-bribery and compliance management system.
Introduction of the management system for compliance keywords (banned words). - Jun Implementation of the campaign for the month of compliance (June-beob).
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July Statement of oath for compliance provided by all officers and employees.
Acquisition of Integrated Certification for the ISO 37001 & 37301 Management Systems. - Aug 5th meeting of the Compliance Committee.
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Sep Introduction of External Event Safety Management Process.
Reformation of the compliance management bulletin board at the website of Lotte Rental. - Oct Notice of Amendments of the Regulations Related to the Prohibition of Solicitation.
- Nov 6th meeting of the Compliance Committee.
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Dec Implementation of Training on Fair Trade Related Regulations.
Implementation of the campaign for the Prevent online dark patterns.
2025.
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Feb 7th meeting of the Compliance Committee.
Implementation of the campaign for the trademark rights and Quiz Event. - Mar Implementation of Training on Trademark Rights for Brand Management work.