Six Institutions Unite Against Overseas Corruption

Staff members in charge of integrity and ethics at Korea Trade Insurance Corporation, the Korea Trade-Investment Promotion Agency, the Korea Tourism Organization, the Korea International Cooperation Agency, the Korea Agro-Fisheries & Food Trade Corporation, and the Korea Creative Content Agency pose for a commemorative photo after holding a working-level consultative meeting at the Korea Tourism Organization Seoul Center on Oct. 23. (Provided by KOTRA)  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 on Oct. 23 with five other institutions that maintain overseas networks: the Korea Trade-Investment Promotion Agency (KOTRA), the Korea Tourism Organization, the Korea International Cooperation Agency (KOICA), the Korea Agro-Fisheries & Food Trade Corporation (aT), and the Korea Creative Content Agency. The agreement is intended to prevent various forms of misconduct that may arise in the operation of overseas branches and to ensure fairness in local business activities. The six institutions that joined the agreement held their first working-level consultative meeting at the Korea Tourism Organization Seoul Center and set specific directions for joint projects to be carried out over the next three years. A core part of the cooperation is to generate synergy by combining each institution’s know-how in operating overseas organizations. The main areas of cooperation are focused on improving practical transparency. The institutions agreed to establish a mutual support system in bidding and contracts and in recruitment screening processes to block the possibility of external pressure or improper intervention. They also plan to jointly develop an anti-corruption and ethical management checklist to enhance the self-inspection capabilities of local branches. They will also work to spread external messages aimed at eradicating corruption and human rights violations. The six institutions plan to produce a joint declaration for local distribution and jointly promote campaigns to prevent conflicts of interest in order to expand a culture of integrity. Jang Young-jin, president of Korea Trade Insurance Corporation, stressed, "Integrity and trust are core values even at overseas branches that are expanding the export territory," adding, "We will continue to provide more transparent and fair export support by sharing each institution’s operational know-how."