transparency Archives | Be Korea-savvy
Woori Bank Mulls ‘One-Strike’ Policy for Transparency

Woori Bank Mulls ‘One-Strike’ Policy for Transparency

SEOUL, Nov. 27 (Korea Bizwire) — Woori Bank, South Korea’s fourth-biggest lender by assets, said Sunday it is considering adopting a “one-strike” policy to prevent corruption. The bank came up with 100 things to be overhauled or improved after discussions with 100 representing employees on Tuesday and Wednesday, Woori Bank said in a statement. Among [...]

S. Korea, U.S. Agree to Make Public Non-confidential Info Related to USFK

S. Korea, U.S. Agree to Make Public Non-confidential Info Related to USFK

SEOUL, Nov. 22 (Korea Bizwire) — In a major step to enhance transparency in American forces stationed here, South Korea and the United States agreed on Tuesday to make public any non-confidential information they have in relation to the United States Forces Korea. “The Joint Committee discussed cooperative efforts to further enhance transparency of SOFA-related [...]

Gyeonggi Province Tackles Corrupt Charities using Blockchain Technology

Gyeonggi Province Tackles Corrupt Charities using Blockchain Technology

GEYONGGI, SOUTH KOREA, March 6 (Korea Bizwire) — The Gyeonggi provincial government has announced a plan to adapt blockchain technology for transparency where charitable donations are concerned. Blockchain is a groundbreaking technology that allows users to keep a record of all their transactions transparently, in linear and chronological order.  “Working closely with charities and experts, we’ll develop [...]

S. Korean Conglomerates Still Lack Transparency in Governance

S. Korean Conglomerates Still Lack Transparency in Governance

SEJONG, Dec. 22 (Korea Bizwire) – South Korea’s big businesses still lack transparency in their governance as owner families still have a strong grip on influence without seats on the board of directors through cross-ownership, the state corporate watchdog said Thursday.  The percentage of owners or their relatives who are listed as board members of [...]

OECD Calls on S. Korea for More Transparency in Taxes, Regulatory Policies to Attract FDI

OECD Calls on S. Korea for More Transparency in Taxes, Regulatory Policies to Attract FDI

SEJONG, Feb. 9 (Korea Bizwire) — The Organization for Economic Cooperation and Development (OECD) on Monday called on South Korea to enhance its transparency in taxes and regulatory policies to better attract overseas investment that can breathe new life into the country’s economy. The Going for Growth 2015 report released by the Paris-based organization said [...]