The 5th ACRC Policy Briefing for Foreign Businesses was held on April 27 to share the difficulties that foreign companies have in Korea and to find solutions.

Over 80 participants from foreign businesses, foreign Chambers of Commerce and foreign embassies in Korea joined the Policy Briefing, including Mr. Kobayashi Tadashi, CEO of Sumitomo Corporation in Korea; Mr. Jong-kap Kim, CEO of Simens Korea; Mr. Barry Howe, President of Alstom Korea; and Ms. Amy Jackson, President of AMCHAM.

The Policy Briefing was initiated in 2008 after the launch of the ACRC and marked its 5th anniversary this year. Chairperson Young-ran Kim in the opening remarks explained about the anti-corruption efforts of the Korean government and the improvement of transparency and fairness in the overall Korean society.

Chairperson Kim, in particular, highlighted the purpose of the Act on the Protection of Public Interest Whistleblowers which has been implemented since last September, and asked the foreign businesses to actively participate in the efforts to better protect whistleblowers who report on violations of the public interest, such as the health, safety, environment, interests of consumers and fair competition.

Chairperson Kim also elaborated the Act on the Prevention of Illegal Solicitations and Conflicts of Interest which the ACRC has been putting much effort into enacting. The Act aims to prevent public officials from using their post to pursue personal interest or request special favors. She emphasized that the enactment of the Act will contribute to reducing corruption caused by old customs rooted in cronyism and paternalism as well as to improving the investment climate for foreign businesses.

The ACRC also explained the issues that have been suggested since the 2008 Policy Briefing and what kinds of follow-up action the Korean government has taken as well as the achievements made so far. The issues include countermeasures to root out medical rebates, revision of the civil application form for foreigners, and expansion of real name authentication for non-Korean Internet users.

Representatives from foreign businesses showed a high interest in the issue of raising the upper limit applied to the cost of the meals provided to a public official, which is currently set at KRW 30,000 by the Code of Conduct for Public Officials. Chairperson Kim explained that Korean people are very strict about corruption and acceptance of bribes by public officials and it is difficult to increase the limit whereas the regulations on public officials are becoming stronger in Korea, and asked the audience for its understanding.

The current version of the Code of Conduct for Public Officials in principle bans public officials from receiving bribes, gifts and entertainment from anyone involved in their work. In unavoidable circumstances, it allows a gift of food or conveniences that total up to KRW 30,000.

Participants also requested that the ACRC expand its cooperation with the Chambers of Commerce of other countries.

The ACRC plans to develop specific measures to deal with the difficulties and suggestions shared in the Policy Briefing and oversee the implementation process.