Korea National Oil Corporation, Korea Gas Corporation, and Korea Hydro & Nuclear Power Join Hands for Audit Cooperation

Joint Initiatives for Two Years Including Cross-Auditing and Internal Control Enhancement

Kang Mingu, Standing Auditor of Korea Hydro & Nuclear Power (from left), Lee Hyunchul, Standing Auditor of Korea National Oil Corporation, and Yoo Jungpyo, Standing Auditor of Korea Gas Corporation, are taking a commemorative photo after holding the "MOU Ceremony for Sharing Audit Infrastructure and Exchanging Safety Audit Information" at the headquarters of Korea National Oil Corporation in Ulsan on the 15th. Korea National Oil Corporation.

Korea National Oil Corporation, Korea Gas Corporation, and Korea Hydro & Nuclear Power have joined forces to strengthen audit capabilities and promote a culture of integrity.

The three institutions announced on the 15th that they have signed a memorandum of understanding (MOU) for “Audit Infrastructure Sharing and Safety Audit Information Exchange” at the headquarters of Korea National Oil Corporation in Ulsan. The signing ceremony was attended by Lee Hyuncheol, Standing Auditor of Korea National Oil Corporation; Yoo Jungpyo, Standing Auditor of Korea Gas Corporation; and Kang Mingu, Standing Auditor of Korea Hydro & Nuclear Power.

This agreement aims to enhance audit quality by sharing outstanding audit cases and expertise among institutions in response to the rapidly changing business environment. In particular, reflecting the growing importance of safety management in public institutions, the parties agreed to strengthen cooperation in safety audit areas for the implementation of ESG (Environmental, Social, and Governance) management and for the prevention of serious accidents.

Under this agreement, the institutions will form a working-level consultative body and carry out joint cooperative projects over the next two years. The main areas of cooperation include cross-auditing and supporting expert auditors in specialized fields, upgrading internal control systems and jointly researching digital audit techniques, and operating anti-corruption and integrity-enhancement programs.

Lee Hyuncheol, Standing Auditor of Korea National Oil Corporation, stated, “The public’s expectations for public institutions are higher than ever. I expect the three institutions will actively exchange outstanding audit techniques and grow together as exemplary state-owned enterprises.”

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