LG Chem has announced it will not enter any businesses that it can’t guarantee safety and environmental protection going forward, Tuesday.
It will also consider pulling out of any existing business that it can’t guarantee employee safety and the environment, company added.
The strengthened safety measure comes after it suffered two accidents at its facilities in May alone.
The company will initiate a comprehensive review of its 40 facilities worldwide __ 17 in South Korea and 23 abroad __ that will last until June.
It will review high-risk equipment and processes at its plants and will immediately apply improvements when it find flaws, the company said.
If there isn’t a short-term solution for the problem, then the facility in question will close until it is solved, LG Chem said.
A task force is being formed for the review __ the company was looking for third party institute with expertise in safety to join.
The company will review everything from square one, LG Chem vice chairman Shin Hak-cheol said in a statement, to strengthen trust going forward.