LG Innotek

Transparency

LG이노텍은 제품의 개발 단계부터 친환경 요소를 고려하고 있습니다.

Board of Directors

The Board of Directors performs the essential functions of deciding on the basic policies of the company’s management and the execution of duties in accordance with the laws and articles of incorporation and monitoring directors’ performance of their duties. As of June 2025, the BOD consists of two executive directors, one other non-executive director, and four independent directors. The BOD has by five committees for enhanced expertise and efficiency in the decision-making process, and they are the Audit Committee, Outside Director Nomination Committee, Internal Transaction Committee, ESG Committee, and Management Committee.In 2024, the BOD held 7 meetings, along with 6 Audit Committee meetings, 2 Outside Director Nomination Committee meetings, 2 Internal Transaction Committee meetings, and 3 ESG Committee meetings. A total of 70 agenda items were reported or resolved.

BOD Composition

(As of June 2025)

Independence, Expertise and Diversity of the BOD

At LG Innotek, outside directors account for the
majority of the BOD to maintain its independence. Our
outside director appointment process complies with
applicable provisions as stipulated in Article 542-8 of
the Commercial Act and Clause 5 Article 34 of the
enforcement decree of the Act.
Outside director candidates are nominated by the
Outside Director Candidate Recommendation
Committee and individually appointed at the general
shareholder meeting. Presently, our pool of outside
directors consists of experts in the areas of finance,
business administration and technology, and these
directors bring their professional knowledge and
experience to the table to decide on major issues of
business management, provide advice, and monitor
business operations. In appointing directors, we value
diversity and do not discriminate on the grounds of
gender, ethnicity or country of origin. In conformity with
applicable regulations, none of our outside directors
see for a period of more than 6 years, and also
appointed of the company’s first female directors in
March, 2022.

Guidelines on the Expertise and
Diversity of the BOD

Jeong-Do Management

LG Innotek practices Jeong-Do Management in accordance with LG Code of Ethics.

Organizational System of Jeong-Do Management

LG Innotek Ethics Executive Office discovers corruptions and illegal acts through receiving reports and carrying out inspections and performs training and promotion activities for Jeong-Do Management to prevent such corruptions and illegal acts. Its Business Audit Team conducts business process diagnosis and management consulting to manage risks to Jeong-Do Management and reinforce the competitiveness of the company.

Activities to Practice and Internalize Jeong-Do Management

Training

We provides training in consideration of employees’ job description and position to help them develop knowledge and internalize Jeong-Do Management. The company carry out regular online trainings for all employees and conduct trainings customized for different business divisions as well as for managers.

Promotion

We publish monthly Jeong-Do Management Newsletters and create a wide array of promotional materials, including digital brochures that our employees can use to readily refer to the Code of Ethics at any given time, to raise the ethics awareness of all employees and to alert them to this critical issue.

Jeong-Do Management
Pledge

Our emplotees sign the ‘Jeong-Do Management pledge’ each year to remind them of the importance of Jeong-Do Management and comply with its principles in their day to-day business activities. Suppliers who sign a new contract are also requested to do the same to join in the effort to promote fair trade.

Monitoring

Domestic and overseas worksites are subject to on-site reviews, regularly monitored for any sign of corruptive practices, and monitored quarterly for any violations of revised regulations as a way to prevent the risk of corruption

Infrastructure

We operate the "Cyber Reporting System" to prevent the violation of the Code of Ethics and to swiftly handle any occurring violations and practice Jeong-Do Management in so doing. In addition, rewards are granted on the reports submitted on corruptive practices to effectively eradicate such practices and encourage whistleblowing.

Reporting Channels and Procedures

Reporting
channel
- · LG Group
  
  LG Jeong-Do Management Portal
  (cyber whistleblowing system)
- · LG Innotek
  email, phone, sexual harassment/bulling reporting center
Investigation
/review
- · Ethics bureau
  Conduct overall investigations into the submitted reports
  Sexual harassment/bullying : Operate dedicated staff at respective worksities
- · Disciplinary Committee
  Decide on disciplinary measures for violations
Reporting/
improvements
- · Reporting
  Regularly report investigation outcomes and relevant disciplinary level to the BOD, the Audit Committee and top management
- · Improvement/prevention
  Review causes, identify risks, improve management policies and internal controls, and strengthen promotion and training to prevent their reoccurrence

Rewards Granted to Whistleblowers

Cyber Reporting System

Type of Report

Receipt of Reward from Interested Parties	Receipt of Money, Entertainment Treat and Reception, Conveniences, Loan, Debt Redemption, Guarantee, Money Loan, Guarantee of Future
Share in the Unjust Profits of Business Partners	Receipt of Stocks and Investment, Joint Investment and Acquirement of Joint Property
Lack of Transparency in the Selection of Suppliers	Allowance of Unfair Opportunities, Unfair Transaction Acts, Information Leakage from Suppliers
Illegal and Unfair Use of Company Assets	Use of Material/Immaterial Assets for Other Purposes, Embezzlement and Diversion of Company Funds
Manipulation of Documents/Numerical Figures and False Reporting	Accounting Fraud, Data Manipulation
Other	Neglect of duty and/or management, Arrogation, injury to dignity

Protection of Informant

We do not disclose the ID of the informant or any information suggesting it without consent of the informant, and will accept the liability for any disadvantages incurred by failure to observe this by making restitution or equivalent action.

Report Processing

If the informant reports with his/her real name and explicitly requests feedback on the results, we will provide feedback on the results to the informant unless it violates the company's legitimate rights and interests.

Contact Information

Address : (07796) Ethics bureau of Corporate Audit Division in LG Innotek, E1/E3-dong,
30 Magokjungang 10-ro, Gangseo-gu, Seoul, Republic of Korea
TEL. 080-660-5400 / ethics@lginnotek.com

Report to Us

Policy on the Voluntary Practice of Fair Trade and Its Compliance

LG Innotek shall establish a Policy on the Voluntary Practice of Fair Trade and Its Compliance as follows and its employees shall practice it faithfully in order to promote “the settlement of a fair-trade culture as Global No.1 Material and Component Company.”

1. Recognize that compliance with the rules of fair trade is the basic principle for the company's business activities and abide by the relevant laws and practices for fair trade.
2. When doing business with partners, do not commit any unfair business practices by abusing your position in the business nor unfairly demand data containing the technology of any partner.
3. Do not commit any unfair collusions such as exchanging sensitive information about prices, quantities, biddings, etc. with competitors.
4. Do not provide nor receive any unfair support to or from LG's other affiliates. To prevent this, establish the rationality of trade conditions and the fairness of trade practices with affiliates.
5. Take the initiative in fostering the culture of voluntary compliance with fair trade rules by not ordering, approving, or abetting any breaches of fair-trade rules.

LG Innotek Co., Ltd. CEO Hyuksoo Moon

Self-driven Compliance with Fair Trade

Compliance with fair trade prevents legal violations and ultimately enhances the company's value and competitiveness.
LG Innotek has established and managed its own self-driven compliance system for fair trade based on the Compliance Program (CP) established by the Fair Trade Commission.

Fair Trade Report/Inquiry

Please contact us if you would like to ask whether an act violates fair trade in business/transaction or make a report on any violation.

※ The identity and confidentiality of the informant are thoroughly protected, and the informant is not disadvantaged by the report.

Email *

Content *

Consent to the Collection and Use of Personal Information *

LG Innotek Co., Ltd. (hereinafter referred to as the “Company”) collects your personal information as follows:

1. Items of personal information to be processed

[Required] E-mail address

2. Purpose of processing and use of personal information

- Checking the facts of the customer’s Fair Trade Report/Inquiry
- Providing replies to customer inquiries and reports or assigning appropriate personnel

※ You have the right to refuse to consent to the collection and use of personal information, and if you refuse to consent, customer inquiries may be restricted.
※ Children under the age of 14 cannot use the service.

I agree to the collection and use of my personal information.

Tax Policy

LG Innotek fully complies with tax laws and regulations in Korea and abroad in its entire business transactions to faithfully fulfill its tax obligations as stipulated by law, and maintains transparent relationships with the tax authorities in the countries where its subsidiaries are based.

Tax Strategy and Principles

Compliance with Tax Regulations

LG Innotek complies with domestic and international tax laws and regulations in all transactions and faithfully fulfills its tax obligations in a timely and accurate manner. We are transparent in our reporting and tax payments to the relevant authorities in the countries where we operates. We do not engage in transactions that have lack commercial substance. In accordance with global standards such as those set by the OECD, we integrate domestic and overseas subsidiaries to review transfer pricing and strive to prevent risks.

Fulfillment of Global Tax Obligations

LG Innotek is establishing a tax process overseas that is equivalent in effectiveness to the one we operate in Korea and complies with country-specific tax regulations in conducting related party transactions. We review the transfer prices of respective overseas subsidiaries in conformity with pertinent OECD and other global standards in order to prevent risks, and make full and transparent disclosures on the tax payments we make in respective countries and relevant transaction data to overseas tax authorities.

Disclosure of Details on Corporate Income Tax Expenses and Transparency Improvement

We make regular disclosures of our annual reports on the electronic disclosure system of the Korean Financial Supervisory Service (DART) to improve the transparency of our tax status to our stakeholders. These reports fully describe our sales, net income, corporate income tax expenses and other relevant data. Furthermore, final reviews are made by internal and external tax experts on major tax items before we fulfill our reporting obligation in order to ensure the appropriate application of tax regulations and to protect our stakeholders in so doing.

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