Business · Companies · 3 hrs ago
Six South Korean public institutions agree to strengthen internal controls
Six South Korean public institutions signed an agreement to strengthen internal controls at the Busan International Finance Center on Nov.
4.
They are Korea Asset Management Corporation, the Korea Technology Finance Corporation, the Korea Credit Guarantee Fund, the Korea Housing & Urban Guarantee Corporation, Korea Southern Power and the Korea Housing Finance Corporation.
The institutions have held yearly working meetings since 2024, sharing information on how they manage internal controls and examples of good practice.
The agreement formalizes that cooperation and sets out plans to share and adapt effective practices.
They will also share training and programs to raise awareness of internal controls.
The institutions also plan to promote ethical and compliant management and work together on new risks as conditions change.
They plan to share their experience and training programs regularly.
Six South Korean public institutions have agreed to cooperate to strengthen their internal controls.
They signed the agreement on Nov. 4 at the Busan International Finance Center.
The institutions will share good practices, training programmes and ways to promote compliance, integrity and ethical management.
They have held annual working-level meetings since 2024 to discuss their internal control systems and practices.
The agreement formalises and expands that cooperation, including joint responses to emerging risks.
- Who
- Korea Asset Management Corp. and five other public institutions: the Korea Technology Finance Corp., Korea Credit Guarantee Fund, Korea Housing & Urban Guarantee Corp., Korea Southern Power, and Korea Housing Finance Corp.
- What
- They signed an agreement to cooperate on strengthening internal controls.
- When
- Nov. 4, 2026.
- Where
- Busan International Finance Center, Busan, South Korea.
- Why
- To formalise cooperation that had developed through working-level meetings and strengthen internal control capabilities.
This story does not have two clearly opposing sides.
The six institutions began holding annual working-level meetings to share information on internal controls and good practices.
The institutions held a working-level meeting and signed their cooperation agreement at the Busan International Finance Center.
Yonhap reported the agreement.
- Institutions
- 6 South Korean public institutions
- Agreement signed
- Nov. 4, 2026
- Signing venue
- Busan International Finance Center
- Annual meetings began
- 2024
- Cooperation areas
- Internal control practices, training, and compliance culture