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Sustainability

Responsible minerals

"Responsible minerals" refer to minerals that are mined with a commitment to remedying negative factors such as human rights abuses, child labor exploitation, and environmental destruction in the mining process, and to fulfilling social and environmental responsibilities. L&F is actively working with all of its partner companies to amend these negative factors and minimize the impact on the society and environment

Conflict Mineral Management

In 2016, we became a member of the RCI(Responsible Cobalt Initiative)and formulated a ‘Responsible Sourcing Policy’ outlining the criteria for cobalt and conflict minerals in high-risk regions. We have also called upon new cobalt producers to commit to this policy. Furthermore, we are conducting third-party verification of cobalt smelters by using the Extended Minerals Reporting Template(EMRT) and supply chain mapping tools. We integrate our conflict minerals response process with our partner company’s sustainability management system to ensure responsible mineral sourcing.

Supervising Conflict Minerals Management of suppliers

As the management of conflict minerals within the supply chain has gained prominence, we are in the process of refining our conflict minerals management procedures. With the transformation of the previous CSR checklist into ESG evaluation criteria, it has become more challenging for suppliers with conflict minerals issues to be integrated into our value chain. In response to this , we conduct thorough evaluations of new raw material suppliers before their registration. This evaluation covers aspects such as their basic financial structure, production capacity, quality control, environmental impact assessment, and measures against child labor. In particular, we carefully review the polices and management systems related to conflict minerals, including cobalt.

Shared Growth with Supplier

L&F are engaged in various activities to foster mutual growth with our partners.
In addition to providing technical and financial support, we are actively seeking diverse methods to
enhance the growth of our partners and strengthen the competitiveness of the value chain.

Development of ESG Evaluation Metrics for partners Companies

In response to the growing demand for ESG supply chain management, the previous CSR self-checklist Was advanced into the ESG evaluation metrics for partner companies. These metrics encompass three areas-Environment, Social, and Governance - comprising a total of 96 indicators

Happiness-Oriented Management

L&F is actively exploring various avenues to strike a balance between work and spare time, aiming to pursue a harmonious life. L&F strives to create a people-centric and happy organizational culture to enhance efficient work advancement in collaboration with passionate contributors to the organization.
As L&F values its members, we will make boundless efforts to leap forward as an unstoppable evolving enterprise.

For the health of our employees, we offer annual health cheakups. Particularly, employees aged 35 and above are provided with regular comprehensive medical check-ups for their health management.

We established an in-house gym to promote exercise along with convenient facilities such as massage chairs and lounges.

We offer up to 20% discount benefits in medical services through partnerships with excellent local hospitals.

To ensure work-life balance for our employees, we have implemented various work systems which allow for efficient working schedule such as selective working hours and work-from-home arrangements.

We provide Founding Anniversary Leave and annual leave(3 days) setting aside from the annual leave entitlement. Additionally, we support a long-term leave system known as the Refresh Leave to encourage extended breaks and support employees in spending quality time with their families.

We provide support for employees to use recreation facility located at major tourist destinations nationwide, either free of charge or at a discounted rate.

We offer support for tickets for home game tickets(Sweet Box) for local sports teams(Samsung Lions)

We operate hobby clubs and provide monthly activity allowances for club activities, aiming to facilitate quick adaptation and enhance teamwork among employees.

We operate commuter buses free of charge around the business site.

We operate an in-house cafeteria to offer complimentary lunch, dinner, and late-night meals.

We provide gifts on Labor Day and national holidays. Additionally, we offer support for family events including leave, congratulatory or condolence money, floral arrangements, and condolence items.

We support our employees’ post-retirement security and aim to ensure a stable life by contributing 50% of the payment amount.

After 5 years of service, we provide rewards, additional vacation days, and other benefits in every 5years.

We support education expenses for employees’ children entering university.

Local Community Contribution

L&F aims for cooperative growth with local community and shares our growth and development through various events every year. In addition to volunteering activities, L&F consistently donates funds to local organizations, and it strives to achieve sustainable social value by fostering large-scale job creation and developing global production bases, contributing to the mutual growth of the local community. To achieve such mutual growth, L&F is expanding its factory in the Daegu-Gyeongbuk region to create new jobs mainly for local people.

Sharing volunteering Activity
“Delivery Coal Briquettes of Love”
Sharing volunteering Activity
“Sharing Coal Briquettes of Love”
Sharing volunteering Activity
“Delivery Coal Briquettes of Love” in 2018
Sharing volunteering Activity in 2019
Filial duty Sharing volunteering Activity
“sharing Dalseo Filial duty ” in 2023