Korea Forest Welfare Institute Achieves First 'Zero Penalty' in Public Institution Integrated Disclosure Inspection

The Korea Forest Welfare Institute announced on the 30th that it has achieved a zero-penalty disclosure for the first time since its establishment in the ‘2023 Public Institution Integrated Disclosure Inspection’ hosted by the Ministry of Economy and Finance.

The Public Institution Integrated Disclosure is a system established under the ‘Act on the Management of Public Institutions’ to ensure the public’s right to know by transparently and promptly delivering management information of public institutions, and to enhance the efficiency of institution operations.

Provided by Korea Forest Welfare Institute

Since 2007, all public institutions have disclosed key information such as ▲institution operation ▲ESG management ▲business performance ▲internal and external evaluations through the ‘Public Institution Management Information System (ALLO)’, and the Ministry of Economy and Finance announces the inspection results periodically every year.

The Korea Forest Welfare Institute was recognized for its efforts to improve the accuracy of management disclosures by establishing a disclosure inspection system, training disclosure officers, and analyzing best practices of excellent disclosure institutions, and was designated as an institution with improved disclosure for two consecutive years. Institutions with improved disclosure are those that have reduced penalty points by more than 50% in the integrated disclosure inspection for two consecutive years.

In particular, the Korea Forest Welfare Institute proved the transparency of its institution operation by achieving a ‘zero-penalty’ with no errors in all 46 disclosure items for the first time since its establishment.

Nam Tae-heon, President of the Korea Forest Welfare Institute, said, “The achievement of zero-penalty is the result of our executives and staff empathizing with and practicing the importance of transparent and accurate delivery of management information.” He added, “The Korea Forest Welfare Institute will continue to expand responsible management of public institutions and become a trusted public institution for the people.”