Code Of Conduct Statement
Our Code of Conduct, adopted and approved by the Executive Board of LG.Philips Displays (LPD), outlines our guidelines for corporate actions and employee behavior. This is the minimum set of standards of conduct for all LPD employees worldwide. Delegated management may consider specifying additional, but not contrary, local rules of business conduct.
While the Code provides a broad range of guidance on the standards of integrity and business conduct, no code can address every situation that individuals are likely to encounter. This Code is not a substitute for our responsibility and accountability to exercise good judgment and obtain guidance on proper business conduct from appropriate authorities within our organization.1. General Principles
As a global industry leader, LPD and its employees accept the responsibility to pursue mutual benefits with our shareholders, customers, suppliers, fellow employees, and the communities where we are located. We recognize the importance of upholding the principles of honesty, fairness, and the responsibilities incumbent on an outstanding member of society. We run our business according to F.A.S.T. (Focus, Accountability, Speed, Teamwork) values and behavioral standards and we respect cultural differences. We comply with the laws and regulations of the countries where we conduct our operations.2. Commitment towards our Business Partners and the Society in general
1) We respect the ethical values of the international business community in which we operate, reflected in our behavior as an organization and in the behavior of our employees. We observe applicable laws and regulations in the countries where LPD is located.
2) We respect the rights of members of the communities where we operate, and are committed to the preservation of our operating environments.
3) LPD values the opinions of our customers, who are the foundation of our business. We seek to secure unconditional trust from our customers by consistently providing them with unbeatable value propositions. We strive for the highest standards of product quality and safety.
4) We conduct business in a spirit of fair competition. We select our business partners based on the value they bring to our organization and our customers.
5) We protect the interests of stakeholders by pursuing business opportunities that add value to our organization, and by avoiding unnecessary or excessive business risks.3. Commitment towards Employees
1) Our employees are our most important assets. Employees are treated fairly, with equal opportunities based on abilities and performance, regardless of personal background or belief. No form of discrimination or harassment is tolerated in LPD.
2) LPD strives to foster a reputable organizational culture that promotes mutual trust, understanding, and respect for culture and value differences.
3) We are committed to providing a safe and healthy workplace for our employees.4. Commitment of Employees
1) LPD employees are committed to protect our organization’s reputation, by complying fully with our Code of Conduct and authorized corporate policies, and supporting our business guidelines.
2) To protect the value we provide to customers and other stakeholders, employee’s business decisions should always be in the best interests of LPD.
3) LPD’s assets, physical and intangible, are to be used only for legitimate business purposes.
4) Confidential information is to be kept secure, and not shared internally or externally outside an employee’s specific authority.
5) The integrity of business information should be protected. Employees must always ensure accuracy and completeness when preparing and sharing business information.
6) Deliberately distorted or false statements that undermine the reputation of individuals or of the organization are not tolerated.
7) LPD employees are encouraged to participate in activities valuable to the community, unless such participation is inconsistent with their duties as LPD staff.5. Compliance with the Code of Conduct
Each LPD employee has an obligation to know and understand not only the guidelines contained in the Code, but also the values on which they are based. By signing the Letter of Acknowledgement on the Code of Conduct, we accept to comply with this Code. As individuals, we are encouraged to raise any issues and concerns through appropriate channels.
Compliance with LPD’s Code of Conduct is mandatory for all employees, and should be clearly communicated to contractors and others representing LPD in business. Non-compliances are subject to disciplinary actions, which can include dismissal for serious offences. LPD reserves the right to report actual or apparent criminal matters to appropriate law enforcement authorities.
Disciplinary action is applicable to breaches of the Code of Conduct and the supporting Practice Guidelines. The appropriate action in relation to a breach is generally determined by the next-level or higher management of the employee responsible for the breach, in consultation with Human Resources management.
Corporate Internal Audit supports the Executive Board in monitoring compliance with the Code.6. Structures for addressing known violations of the Code of Conduct
Known violations of the Code of Conduct can generally be made to your Direct Manager or to a local Human Resources Manager.7. Queries and Guidance
In case of queries on the Code of Conduct, we are encouraged to seek advice from the next-level manager and/or Human Resources manager on site or the Corporate Human Resources in Hong Kong. Common sense should prevail, and the rights and responsibilities of local management should also be carefully considered prior to escalating issues to Corporate Headquarters.