ACRC holds the policy briefing for foreign chambers of commerce in Korea

- Foreign Companies, “The Improper Solicitation and Graft Act will spread a culture of integrity” -

March 31, 2017

Foreign companies have offered high praise to the Korean government’s commitment and achievements towards anti-corruption, and have actively supported the Improper Solicitation and Graft Act (Anti-Graft Act).

The ACRC held a meeting with executives of foreign chambers of commerce in Korea at Hotel President Seoul on March 31. During the meeting, the ACRC introduced the Korean government’s major policies for anti-corruption and protection of people’s rights, and listened to difficulties experienced by foreign companies operating in Korea.

Twelve executives of foreign chambers of commerce participated in the meeting, including President Dimitris Psillakis of the European Chamber of Commerce in Korea (CEO of Mercedes-Benz Korea), Chairman Yuko Fujiyoshi of Seoul Japan Club (CEO of Mitsubishi Corporation Korea), and board member Craig Pasch of the Australia Chamber of Commerce in Korea (Country Manager of Woodside).

In his welcoming remarks, ACRC Chairperson Sung Yung-hoon noted that the ACRC was marking its tenth anniversary since the integration of three former bodies—the Ombudsman of Korea, the Korea Independent Commission Against Corruption, and the Administrative Appeals Commission—and highlighted that the ACRC made a number of achievements as a result of the synergic effects brought about by the integration. Chairperson Sung also introduced this year’s major plans and listened to difficulties and suggestions of foreign companies regarding their business and daily activities.

Chairperson Sung elaborated that the Improper Solicitation and Graft Act implemented last September was gaining stronger support from the public and that the Act will contribute to significantly improve the deep-rooted practices that had previously impeded fair and transparent business activities, thus living up to global standards and providing level playing fields for competition for foreign companies in Korea.

Foreign business leaders in this meeting praised the Korean government’s commitment to anti-corruption and expressed their strong support for the Anti-Graft Act as they expect a successful implementation of the Act to be a core factor in spreading culture of integrity throughout Korean society.

Since its launch in 2008, the ACRC has held the annual meeting with foreign business leaders to improve their interest in and understanding of Korea’s anti-corruption policies as well as to enhance national integrity.

The ACRC has stated that, as a national anti-corruption and ombudsman body of Korea, it will do its best to more actively listen to and address the opinions and suggestions of foreign businesses.