If I understand it correctly, there is no limit on gift giving to vendors or customers, but there is a limit on receiving gifts from them. Doesn't this create an awkward situation in some cultures, were we can give them gifts, but they are embarrassed because they can't give us a gift in return?
The current standard takes into consideration the culture and business environment in many different countries. LG Electronics in Korea currently does not give or receive presents from business partners or interested parties. We understand that in some countries it might be considered rude to decline or refuse gifts from our valued business partners. However, LG Electronics is committed to management by principle and in the near future we will ask that all LG people comply with a global standard that includes both not giving or receiving gifts from business partners or interested parties.
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Nobody sugests me a gift :-)
If I understand it correctly, there is no limit on gift giving to vendors or customers, but there is a limit on receiving gifts from them. Doesn't this create an awkward situation in some cultures, were we can give them gifts, but they are embarrassed because they can't give us a gift in return?
What letter to employees? Nobody here got one (LGEUS/LGEAI)
The current standard takes into consideration the culture and business environment in many different countries. LG Electronics in Korea currently does not give or receive presents from business partners or interested parties. We understand that in some countries it might be considered rude to decline or refuse gifts from our valued business partners. However, LG Electronics is committed to management by principle and in the near future we will ask that all LG people comply with a global standard that includes both not giving or receiving gifts from business partners or interested parties.
The CEO had sent out a letter to employees in Korea because a Korean holiday is coming up.
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