Chapter 2.Fair Competition

LG employees are acting uprightly and making value judgments in accordance to the code of ethics.

In all its business activities worldwide, LG shall gain competitive advantage through fair methods, respecting the laws and regulations of each region.

1. Pursuing Free Competition

LG Code of Ethics

  • (1) We uphold the principles of the free market economic system and pursue open competition around the world. We earn our customers' trust through top-quality products and services.
  • (2) We compete fairly and capably with our competitors and do not interfere with their interests or exploit their weaknesses.
Guidelines for Practice
  • (1) Fair Acquisition and Use of Information
    • - Acquire general information on competitors through fair methods that will not be subjected to social criticism.
    • - Use acquired information on competitors in a legitimate manner.
  • (2) Acquisition of Competitive Advantages in a Fair Way
    • - Do not plagiarize or infringe on competitors' tangible/intangible assets.
    • - Obtain competitive advantage through fair methods, without degrading competitors status or abusing their weaknesses.
  • (3) Prohibition of Unfair Collusion
    • - Do not inflict damage to other businesses and customers by unfairly colluding with competitors to set sales prices, sales conditions, or market allocation.
    • - Do not form or participate in unfair alliances or collusion organization within the industry.

2.Complying with Laws and Regulations

LG Code of Ethics

We conduct our domestic and overseas business activities in strict accordance with local laws and regulations, and with respect for local business customs.

Guidelines for Practice
  • (1) Compete through fair methods by respecting the regulations and business customs and practices in the related regions.
  • (2) Complying with the Convention on Combating Bribery in International Business Transactions
    • ① Understand and observe the Convention on Combating Bribery in International Business Transactions, which prohibits promises or bribes or any act of expressing intention to give either directly or indirectly to foreign officials related business affairs for the purpose of achieving unlawful profit in international commercial transactions.
    • ② All employees shall complete and submit the "Pledge of Prohibiting Bribery in Overseas Transactions."