Company Directory - LG Chem Ltd.
Company Details - LG Chem Ltd.
LG Chem Ltd.
WebsiteSeoul, South Korea
LG Chem is a leading chemical company in South Korea that produces a wide range of products, including chemicals and batteries.
CCI Score
CCI Score: LG Chem Ltd.
5.73
Latest Event
LG Chem CEO Reappointed to Chair WEF Industrial Body
LG Chem Vice Chairman and CEO Shin Hak-cheol was reappointed as chair of the Chemical & Advanced Materials Industry Governors at the World Economic Forum, continuing his leadership role and promoting sustainable international collaboration and eco-friendly initiatives.
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OBJECTOR
LG Chem Ltd. is currently rated as an Objector.
Latest Events
- JAN192025
LG Chem Vice Chairman and CEO Shin Hak-cheol was reappointed as chair of the Chemical & Advanced Materials Industry Governors at the World Economic Forum, continuing his leadership role and promoting sustainable international collaboration and eco-friendly initiatives.
+80
Executive Political Engagement
March 28
Shin Hak-cheol's extended appointment as chair of the WEF industrial body underscores strong executive political engagement aimed at fostering international collaboration on sustainability and low-carbon initiatives. His leadership not only enhances LG Chem's progressive global influence but also supports efforts to advance eco-friendly policies in the face of geopolitical uncertainty.
- JAN012025
LG Chem has implemented a comprehensive Supplier Code of Conduct that sets out strict guidelines for human rights protection, labor standards, and ethical supply chain management, reinforcing its commitment to sustainable and responsible business practices.
+80
Labor Relations and Human Rights Practices
March 19
The Code of Conduct explicitly mandates compliance with international human rights and labor laws. It bans forced labor, child labor, and enforces humane treatment and safe working conditions for all workers. This strong stance on labor rights significantly contributes to a positive score under the 'Labor Relations and Human Rights Practices' category.
+70
Supply Chain Ethics
March 19
The document sets rigorous standards for the ethical sourcing of materials, including strict due diligence on conflict minerals and environmental management. By requiring suppliers to adhere to internationally recognized guidelines, LG Chem is proactively reducing risks related to unethical supply chain practices.
- JUL012024
An investigation highlights LG Chem's involvement in a supply chain tainted by forced labor and human rights abuses through its partnership with China Huayou Cobalt Industry, raising serious ethical concerns.
-70
Business Practices and Ethical Responsibility
March 19
LG Chem has reportedly benefited from partnerships with companies like China Huayou Cobalt Industry, which has been linked to forced labor practices in Xinjiang. This connection raises serious questions regarding the company's supply chain ethics and labor practices, contributing to broader human rights abuses within the EV supply chain.
- JUN012024
LG Chem's updated Global Human Rights & Labor Policy (Version 1.1, June 2024) reinforces the company's commitment to labor rights by prohibiting forced labor, child labor, and inhumane treatment, ensuring safe and dignified working conditions. This proactive stance supports ethical labor practices and opposes the authoritarian exploitation of workers.
+90
Labor Relations and Human Rights Practices
March 19
LG Chem has published a comprehensive Global Human Rights & Labor Policy that aligns with internationally recognized human rights standards. The policy explicitly bans forced labor, child labor, and workplace abuses while emphasizing fair labor practices and non-discrimination. Such measures indicate a strong commitment to ethical business practices and resistance to any form of authoritarian labor exploitation.
- JUN222023
A study funded by ETI Sweden flagged LG Chem among battery and electric bus manufacturers in China for utilizing workers from registered poor households, raising concerns about forced labour and unethical supply chain practices.
-70
Labor Relations and Human Rights Practices
March 28
The study highlights that LG Chem, along with other manufacturers, is utilizing workers from registered poor households under conditions that suggest forced labour practices. This is a stark violation of labor rights and reflects deeply problematic labor relations.
Supply Chain Screening Forced Labour at Battery and Electric Bus Manufacturers in China
-60
Supply Chain Ethics
March 28
LG Chem's inclusion in the study raises serious concerns about its supply chain oversight. The recruitment of workers from vulnerable, registered poor households in China suggests inadequate supply chain ethics and due diligence in preventing forced labour.
Supply Chain Screening Forced Labour at Battery and Electric Bus Manufacturers in China
- JUN012023
In June 2023, an NGO report alleged that LG Chem, along with several other battery manufacturers, may be linked to the use of Uyghur forced labour in its supply chain, raising significant concerns over labor rights and ethical sourcing practices.
-60
Labor Relations and Human Rights Practices
March 28
The report alleges that LG Chem is connected to state-imposed forced labour practices via its suppliers, directly implicating its labor relations and human rights practices. Forced labour is a severe violation of workers' rights and this involvement raises serious ethical and human rights concerns.
China: NGO report explores forced labour risks at battery manufacturers
-60
Supply Chain Ethics
March 28
The investigation raises concerns over LG Chem's supply chain ethics, with indications that its procurement and supplier relationships may be indirectly supporting forced labour practices. This undermines ethical sourcing standards and contributes to human rights abuses.
China: NGO report explores forced labour risks at battery manufacturers
- JUN012023
In June 2023, LG Chem published Version 2.0 of its Responsible Sourcing Policy, reinforcing its commitment to a transparent and ethical supply chain. The updated policy emphasizes adherence to international guidelines such as the OECD Due Diligence Guidance, and explicitly prohibits human rights abuses, forced labor, and other unethical practices in the sourcing of minerals used in its battery value chain.
+75
Supply Chain Ethics
March 28
LG Chem's updated policy clearly addresses supply chain ethics by implementing strict measures to avoid sourcing from conflict zones and enforcing due diligence in its mineral supply chain. This proactive stance against unethical practices and potential human rights violations reflects a substantial commitment to ethical business practices.
+70
Labor Relations and Human Rights Practices
March 28
The policy underlines LG Chem’s commitment to upholding labor rights and ensuring safe, non-exploitative practices throughout its supply chain. By disallowing forced labor, child labor, and other forms of human rights abuses, the policy supports ethical labor relations and enhances protection for vulnerable workers.
- JUN012023
A study conducted in June 2023 reveals that LG Chem is among the battery manufacturers implicated in state-sanctioned forced labour practices in China. The research details how the company sources workers from impoverished communities through coercive labour transfer schemes, raising severe concerns over labor rights and ethical supply chain practices.
-80
Supply Chain Ethics
March 19
The report identifies LG Chem as one of the manufacturers receiving workers through coercive labour transfer schemes from registered poor households across several Chinese provinces. This practice, which fits the criteria for forced labour, highlights significant ethical concerns regarding the company’s supply chain practices.
Supply Chain Screening Forced Labour at Battery and Electric Bus Manufacturers in China
-75
Labor Relations and Human Rights Practices
March 19
LG Chem is implicated in allegations pertaining to labor rights abuses, where vulnerable populations are coerced into labor under oppressive conditions. This evaluation reflects concerns over the company’s participation in labor transfer schemes that exploit registered poor households, undermining basic human rights standards.
Supply Chain Screening Forced Labour at Battery and Electric Bus Manufacturers in China
- JAN012023
In 2023, LG Chem made political campaign contributions to several organizations, including the World Economic Forum. While the recipients are not explicitly authoritarian, such corporate political spending raises concerns about the potential for undue corporate influence on democratic processes.
-15
Political Contributions and Lobbying Efforts
March 19
LG Chem's political contributions, as detailed in the 2023 report, suggest a willingness to exert corporate influence in political arenas. Although the donations are directed towards mainstream organizations like the World Economic Forum, from an anti-fascist perspective, any corporate attempt to shape policy through monetary contributions can undermine democratic accountability and transparency.
- DEC312021LG Corp Lobbying Expenditure
-43.13
LG Chem, as reported by OpenSecrets, is linked to significant lobbying expenditures amounting to $1,723,000 in 2021. This level of spending raises concerns about potential influence on policy-making that could favor authoritarian practices.
-60
Political Contributions and Lobbying Efforts
March 19
Data from OpenSecrets shows that LG Corp spent $1,723,000 on lobbying in 2021. Such a high expenditure on lobbying activities is indicative of significant political contributions aimed at influencing policy favorably for corporate interests. From an anti-fascist perspective, leveraging substantial lobbying funds can undermine democratic processes and support authoritarian policies, thereby meriting a strongly negative score.
- JAN012016
LG Chem reaffirms its commitment to international human rights standards by endorsing key documents such as the UN Universal Declaration of Human Rights and implementing a Global Human Rights & Labor Policy across its operations since 2016. This proactive stance supports ethical labor practices and challenges authoritarian exploitation.
+80
Labor Relations and Human Rights Practices
January 1
LG Chem's public commitment to internationally recognized human rights and its longstanding Global Human Rights & Labor Policy demonstrate a proactive approach to ethical labor practices. By aligning its policies with UN and ILO standards, the company fosters a workplace that respects human dignity and counteracts oppressive labor practices, a stance strongly opposed to fascist and authoritarian exploitation.
- JAN012016
LG Chem has implemented its Global Human Rights & Labor Policy across its global operations since 2016, promoting adherence to internationally recognized human and labor rights standards among its stakeholders including employees, suppliers, and local communities.
+80
Labor Relations and Human Rights Practices
March 28
By applying and sharing its Global Human Rights & Labor Policy since 2016, LG Chem demonstrates a commitment to upholding human rights and labor standards. This proactive measure aligns with progressive, anti-fascist values by emphasizing worker dignity and compliance with internationally recognized guidelines, contributing positively to ethical business practices.
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