BUSINESS

LG Chem vows to refrain from using ‘conflict minerals’

By Kim Da-sol
  • Published : Jul 30, 2018 - 14:47
  • Updated : Jul 30, 2018 - 14:47
South Korea’s leading chemicals company LG Chem said Monday it would refrain from using four “conflict materials” as part of the company’s strengthened corporate social responsibilities concerning its supply chain. 

The four conflict materials include gold, coltan, tin and tungsten. These minerals are known as conflict minerals because much of the supply is sourced from the Democratic Republic of the Congo and neighboring countries where a decadeslong civil war is being waged.

LG Chem said in a 2017 sustainability report published Monday that it banned the purchase of the four conflict minerals from last year.

LG Chem employees pose with its 2017 sustainability report that was published on Monday. (LG Chem)

With increased public attention on social responsibility, the company said it will continue to focus on ethical purchases of minerals to establish a validated, conflict-free supply chain.

“As part of our society, we will continue to conduct activities that can go beyond ‘contribution,’ but to ‘coexist’ in society,” said LG Chem Vice President Park Jin-soo. 

In the US, legislation that compels US companies to audit their supply chains to ensure they are not using conflict minerals was signed by President Barack Obama in 2010. The law aimed to weaken Congo militias by cutting off their mining profits.

(ddd@heraldcorp.com)


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