[Best Anti-Corruption Policy]

A culture of integrity flourished through improvement of unfair practices

- Korea Asset Management Corporation promotes integrity policies to eradicate illegal use of state-owned property and overuse of power -

June 12, 2020

Anti-Corruption and Civil Rights Commission

The Republic of Korea

The Korea Asset Management Corporation (KAMCO) is carrying out various integrity activities to eradicate illegal use of state-owned farmland and overuse of power within the institution and to spread the culture of integrity to the private sector. The Anti-Corruption and Civil Rights Commission (ACRC) has been discovering and spreading best practices by institutions and sectors so that they can be used in establishing and implementing integrity policies in public and private sectors.

KAMCO achieved the first grade for four consecutive years in the anti-corruption initiative assessment, which evaluates the level of efforts for the integrity of public institutions. KAMCO has continuously improved the practice of illegally using state-owned assets, discovered and educated about the types of power abuse that reflect the characteristics of the Corporation, and promoted integrity activities using the interface between the Corporation and the private sector by work to spread the culture of integrity.

(Eradication of illegal use of state-owned land) The Corporation is expanding the reporting system for illegal use of state-owned property and strengthening the promotion of the reporting system for fair and transparent use of state-owned property.

KAMCO conducted a full investigation into the use of state-owned farmland and found cases of seeking unfair private interest, such as leasing the state-owned land and re-renting it for high rent or trading the right to cultivate it, and using it for purposes other than the original purpose of leasing.

In response, KAMCO set up an on-site reporting center to receive reports and provide consulting on illegal subleases, etc. and conducted on-site close-up investigation into the leased farmland. In addition, KAMCO also strengthened the operation of the “reporting center for illegal use of state-owned property” on its website so that anyone can report all matters related to the illegal use of state property, including the use of state property without permission for use or loan contracts, as well as the re-lease of state-owned land at high rents.

Along with this, promotion for the right use of state-owned property has been strengthened. The Corporation also sent out notices for eradication of illegal use of state property to all state-owned property loan contractors who leased state property for purposes of cultivation, housing and commerce, etc. and installed on-site information boards. It also held an outreach briefing session for residents of remote islands and mountainous areas to provide education for the prevention of illegal use of state property.

(Establishment of a culture where abuse of power is not tolerated) KAMCO is stepping up efforts to establish a culture where abuse of power or authority is not tolerated by diagnosing factors of overuse of power for internal and external stakeholders and establishing measures to eradicate the malfeasance in the office through education and promotional activities.

KAMCO reviewed its bylaws and guidelines, etc. to overhaul factors causing abuse of power, searched types of abuse of power that could occur by duties and interested parties and collected cases of improvement to use them for education on the prevention of abuse of power.

In addition, it produced and distributed guidelines for the eradication of abuse of power, and carried out campaigns after producing promotional materials containing major contents of the guidelines. In the campaign to eradicate abuse of power, KAMCO emphasized that no one should be engaged in any following acts of abusing its superior status and authority: ▲ making demands for and receiving money, entertainment, and convenience; ▲ forcing the contracted party to bear the expenses which the agency placing an order should bear; and ▲ making improper solicitations to duty-related person.

< Promotional Poster for the Campaign to Eradicate Abuse of Power >

(Spread of a culture of integrity) KAMCO has been carrying out customized integrity activities by utilizing various interfaces with the private sector.

Integrity education, such as introduction of the Improper Solicitation and Graft Act and stories of integrity for learning from real cases, was provided to the corporation’s advisory lawyers responsible for the affairs related to household support, lawyers, paralegals or judicial scriveners, credit information corporation workers, and students who participated in the “KAMCO Youth Workplace Experience Program.” KAMCO screened videos including the integrity-themed CF it produced in various events held by the corporation, such as the Corporate Reshaping Forum and the Public Sale and Investment Academy.

In addition, KAMCO held a social networking service (SNS) event aimed at online biding system* users, customers interested in state-owned property, and the younger generation. It held an integrity quiz event during the Anti-Corruption Week to raise interest in the Anti-Corruption Day and let people reflect on the meaning of “Integrity.”

* Online public asset disposal system which provides integrated information of sales and leasing in the public sector and where people can participate in a public sale through the Internet

On the other hand, KAMCO also operated the Integrity Ethics Week in which employees of the corporation, related agencies, and ordinary citizens participated. Through various hands-on integrity activities such as Integrity Theater, film festival, integrity UCC (User Created Contents), cartoon and book review contest, and production of integrity souvenirs, it has raised interest and understanding of “integrity.”

Lim Yoon Ju, ACRC Anti-Corruption Bureau director general said, “I hope that the public sector will take the lead in improving the wrong practices and encourage voluntary participation from the private sector to spread a culture of fairness and integrity in our society.”