Lotte Chilsung Obtains First Compliance Management System Certification in the Alcohol Industry

Park Yoon-ki, CEO of Lotte Chilsung Beverage (second from the left), and Lee Won-gi, President of the Korea Compliance Certification Institute, are posing for a commemorative photo.

[Asia Economy Reporter Lim Hye-sun] Lotte Chilsung Beverage announced on the 9th that it has obtained the ‘Compliance Management System (ISO37301)’ certification from the Korea Compliance Certification Institute, an accredited certification body, becoming the first in the domestic beverage and liquor industry to do so.

On December 8th, Lotte Chilsung Beverage held a certification ceremony at its headquarters located in Songpa-gu, Seoul, attended by Park Yoon-gi, CEO of Lotte Chilsung Beverage, Lee Won-gi, Director of the Korea Compliance Certification Institute, and other officials.

The Compliance Management System (ISO37301) is an international standard established by ISO (International Organization for Standardization) in April this year. It is an international certification awarded after evaluating whether a company’s compliance policies and risk response systems across overall management meet global standards and operate effectively.

Since introducing the Anti-Corruption Management System (ISO37001) in March 2019, the first in the industry, Lotte Chilsung Beverage has continuously strengthened responsible management and a transparent corporate culture for stakeholders, including the establishment of a Corporate Governance Charter last May. As an extension of these activities, Lotte Chilsung Beverage pursued the Compliance Management System certification. They formed a dedicated compliance organization, trained internal auditors, declared compliance policies, established company-wide compliance goals and identified obligations, and conducted risk assessments. They passed both document and on-site audits to obtain the certification.

Lotte Chilsung Beverage expects this certification to serve as an opportunity to internally and externally demonstrate its commitment to ESG management, which the group emphasizes.