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  • Anti-bribery “Park Won-soon Act” Set to be Applied to SMG-invested Institutions

  • SMG 3232

    Effective August 2016, the SMG will apply the so-called “Park Won-soon Act”, an anti-bribery law, to all SMG-invested institutions. The Act, which prohibits officials at the SMG and its affiliates from receiving even 1,000 won in bribery, was adopted in 2014.

    The new measure is part of the Uprightness Campaign, which is composed of 14 detailed steps under the three strategies: ① reduction of corruption, ② enhancement of integrity, and ③ together with people. Please see the following for further details.

    -Reduction of corruption – The auditing function will be focused on sectors prone to corruption, including programs entrusted to the private sector and subsidy-provided programs.

    First, the SMG will carry out stringent audits on sectors prone to corruption and check to see whether results are achieved adequately for programs specifically carried out by it such as neighborhood community and urban specialization industry programs. Officials failing to comply with instructions for remedial steps given by inspectors within the designated timeframe will be punished.

    -Enhancement of integrity – Dissipation of for rewarding integrity
    The SMG will operate the 13-member Uprightness Policy Advisory Committee, composed of scholars, individuals from civic organizations, and the press, to monitor the process of establishing, executing, and evaluating the SMG’s integrity-related policies, while giving relevant advice and proposing policies.

    -Together with people – Operation of the Public-Good Audit Corps
    The SMG will operate the 13-member Public-Good Audit Corps, composed of public accountants, attorneys, and tax accountants, to monitor programs entrusted to the private sector and subsidy-provided programs. The corps will be made to carry out activities in full strength starting next year after a pilot operation in the second half of this year.

    For inquiries, please call the officers responsible for investigations (☎02-2133-3083) and for audits (☎02-2133-1893).