LSIS COO Park Yong-sang poses with his staff members after winning he Minister of Trade, Industry and Energy Award in the organization category of compliance program (CP) during a ceremony to celebrate 2017 Trade Security Day at the Korea Chamber of Commerce and Industry in Seoul on Sept. 19.

LSIS has been recognized for successfully establishing a compliance program of strategic resources. 

LSIS won the Minister of Trade, Industry and Energy Award in the organization category of compliance program (CP) during a ceremony to celebrate 2017 Trade Security Day at the Korea Chamber of Commerce and Industry in Seoul on Sept. 19. The awards ceremony was hosted by the Ministry of Trade, Industry and Energy (MOTIE) and organized by the Korea Strategic Trade Institute (KOSTI).

CP awards are presented to those who have contributed to complying with a compliance program of managing strategic resources, spreading the implementation of the regime and its development.

CP is an in-house program designed to establish such regimes related to export management of strategic resources as organization, regulations, inspection into transactions, education, and auditing, the judging of strategic resources and the applying of export permit on a voluntary basis. 

LSIS inaugurated a body specializing in managing of strategic resources and has nurtured experts after announcing of its decision to introduce the compliance program in January 2014. On the same year, the company made in-house regulations on management of strategic resources and have standards in place. 

LSIS COO Park Yong-sang, who received the CP award, said, “The establishment of a body specializing in the CP under the jurisdiction of the Legal Affairs Division at an early stage originates from a strong determination to pursue voluntary compliance,” “I’m very pleased to be recognized for our efforts to operate a specialized body and invest for a long period of time without no record of exporting strategic goods,” he added. Advancing of Payments to Ease Financial Strains of Cooperative Cos.

LSIS has decided to advance payments worth 40 billion won to its cooperative companies to help them relieve their financial hardship in time for the Chuseok holiday season. The payments will be made on Sept. 29 one day before the start of the holiday season, 11 days earlier than originally scheduled. The measure is in keeping with the implementation of LS Group’s management tenet: LSpartnership, an LSIS official said. The company strives to work for win-win strategies for shared growth with its cooperative companies, he said.  

LSIS Chmn. Koo Calls for Leaders to Discard ‘Bygone’ Concept of Company Loyalty

LSIS Chairman Koo Ja-kyun urged his company’s team leaders to purse a newly defined leadership tailored to meet members’ needs, rather than being “committed to unconditional loyalty to the company.” LSIS Chairman Koo participated in a leadership enrichment symposium for LSIS team leaders at the LS Future Institute in Anseong, Gyeonggi-do, on June 28. 

“Healthy corporate culture will be a foundation behind a long-term corporate growth,” Koo said. “Demanding unconditional corporate loyalty is a concept of old days, so loyalty is defined in a realistic perspective.” 

Chairman Koo selected as “virtues of loyalty” behind long-term corporate growth autonomy and responsibility, as well as being immersed in yielding outcomes. in the past, enduring personal sacrifices ― sometimes for unconditionally prioritizing organizations ― but loyalty today is a concept in which each member ought to devote himself or herself to yielding outcomes with autonomy and responsibility to drive long-term corporate growth, he said. 

LSIS Chairman Koo Ja-kyun, (Photos: LSIS)