HUG and five other public institutions join forces to strengthen internal controls, share operational best practices and training

[Financial News] Korea Housing & Urban Guarantee Corporation (HUG) and five other public institutions will regularly share their experience in operating internal controls and their training programs, and jointly respond to new risk factors.
HUG said on the 5th that it had held a working-level council on internal controls at BIFC on the 4th with Korea Asset Management Corporation, Korea Technology Finance Corporation, Korea Credit Guarantee Fund, Korea Southern Power and Korea Housing Finance Corporation, and signed an agreement on cooperation.
Internal control is a system for preventing and managing in advance risks that may arise in the course of work. The six institutions have operated a working-level council since 2024 and shared each institution’s operational status and best practices.
The agreement was established to expand voluntary exchanges into a formal cooperation framework. The institutions will work together to share and benchmark internal control best practices, share training and awareness-raising programs, and promote a culture of compliance, including integrity and ethical management.
They plan to strengthen the basis for cooperation so they can regularly share each institution’s experience and training programs and jointly respond to new risk factors arising from changes in the business environment.
Kim Taek-seon, head of HUG’s Compliance Support Office, said, “This agreement will provide an opportunity for institutions to share their experiences and work together to build an internal control system that works in practice on the ground.” He added, “As a housing stability platform that the public can trust, the corporation will continue to build a robust foundation for internal controls.”
[email protected] Choi Ga-young Reporter