Korea Technology Finance Corporation Establishes Internal Control Cooperation Framework with Five Public Institutions

Cooperation on Sharing Best Practices and Compliance Management

Korea Technology Finance Corporation said on November 5 that it had signed an agreement on November 4 with five public institutions to strengthen their internal control capabilities. The agreement, titled “Joint Cooperation Agreement to Strengthen Internal Control Capabilities,” was signed at the headquarters of Korea Asset Management Corporation (KAMCO) in Nam-gu, Busan.

The agreement was joined by Korea Technology Finance Corporation, the Korea Credit Guarantee Fund, the Korea Housing & Urban Guarantee Corporation, Korea Asset Management Corporation, Korea Southern Power Co., Ltd., and the Korea Housing Finance Corporation. It was established to share each institution’s experience operating internal controls and best practices, and to improve the effectiveness of their internal control systems.

Korea Technology Finance Corporation headquarters. Korea Technology Finance Corporation

Under the agreement, the institutions will cooperate on sharing best practices and identifying areas for improvement to advance internal control systems; exchanging educational and campaign programs to raise awareness of internal controls; and establishing a culture of compliance management linked to integrity and ethical management. They also plan to strengthen their capabilities so they can jointly address new risk factors arising from changes in the business environment.

“Korea Technology Finance Corporation will continue to work closely with the institutions that signed the agreement to establish a prevention-focused management system, ensuring that internal controls operate effectively in the workplace,” said Lee Jong-hyeok, an executive director at Korea Technology Finance Corporation.

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