Lotte Card Establishes 'Financial Consumer Protection Committee'

*This content was translated by AI.

Lotte Card has established a 'Financial Consumer Protection Committee' within its board of directors to strengthen financial consumer protection.

The establishment of the Financial Consumer Protection Committee is a measure taken in accordance with the 'Best Practices for Financial Consumer Protection Governance' released by the Financial Supervisory Service in September last year.

The committee will convene at least once every six months to perform key decisions related to financial consumer protection, including establishing an internal control system for financial consumer protection, formulating and reviewing major policies, and establishing governance to prevent infringement of consumer rights.

A Lotte Card official, who spoke to this newspaper by phone, stated, "The establishment of this committee is a promise to make financial consumer protection the foundation of all Lotte Card's management activities."

Another Lotte Card official also said, "This committee is designed to reflect the objective opinions of outside directors Gyeong Cheong-ha-go (CEO) and promptly incorporate them into overall management," adding, "It is an effort to create a sound consumer protection environment."

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*This content was translated by AI.