Six Institutions Unite Against Overseas Corruption
Public institution branches operating overseas are forming a united front to prevent corruption and conflicts of interest and to strengthen human rights management in their local operations.Korea Trade Insurance Corporation said on Oct. 26 that it signed an integrity and ethical management agreement
Six institutions - Korea Trade Insurance Corporation (KTIC), the Korea Trade-Investment Promotion Agency (KOTRA), the Korea Tourism Organization (KTO), the Korea International Cooperation Agency (KOICA), the Korea Agro-Fisheries & Food Trade Corporation (aT), and the Korea Creative Content Agency (KCC) - have formed a coalition to combat corruption and conflicts of interest in their overseas operations.
The agreement, signed on October 23, aims to uphold human rights management and ensure fairness in local business activities.
The institutions met for the first time at the KTO Seoul Center, where they outlined a three-year plan for joint projects. A key focus of their cooperation is to leverage each institution's unique expertise in managing overseas organizations, with the ultimate goal of generating synergy.
The primary objectives of the coalition include enhancing transparency, establishing a mutual support system for bidding and contracts, and improving recruitment screening processes to prevent external pressure or improper intervention. Additionally, the institutions plan to create an anti-corruption and ethical management checklist to bolster local branches' self-inspection capabilities.
Beyond technical cooperation, the six entities will join forces in raising awareness against corruption and human rights violations both domestically and internationally. They will produce a joint declaration for local distribution and actively promote campaigns to eradicate conflicts of interest, ultimately fostering a culture of integrity.
KTIC President Jang Young-jin emphasized the importance of integrity and trust, stating that these values must be upheld even by overseas branches expanding their export territories. He pledged continued efforts to provide transparent and fair export support by sharing each institution's operational know-how.
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