Kibo Wins 'Minister of the Interior and Safety Award' at the Active Administration Best Practice Competition

Recognition of Achievements in Establishing the First Private-Certified Electronic Contract System in a Public Institution

The Korea Technology Finance Corporation (Kibo) announced on the 28th that it received the Minister of the Interior and Safety Award (Excellence Award) for being the first public institution to introduce document electronic signatures based on private certificates at the ‘2024 Active Administration Best Practices Competition.’

The Active Administration Best Practices Competition is jointly hosted by the Ministry of Personnel Management, the Ministry of the Interior and Safety, and the Office for Government Policy Coordination, and is held annually to discover outstanding cases of regulatory innovation that citizens can directly experience.

In this competition, a total of 53 innovative cases passed the preliminary round, with participation from central government ministries, local governments, and public institutions. Kibo was awarded as an excellent case among 8 cases in the public institution category.

Lee Sang-chang, Director of Kibo (left), and Kibo officials are taking a commemorative photo after receiving the Minister of the Interior and Safety Award. Photo by Kibo

Kibo’s electronic contract system significantly improved the private simple authentication system, which had been used only with limited methods such as simple login, and was recognized for its proactive efforts to apply it to electronic contracts, ultimately being selected as an excellent case.

The ‘e-Electronic Contract System’ based on private certificates implemented on Kibo’s technology transaction platform, ‘Smart Techbridge,’ directly inserts the electronic signature information of contractors using the platform into documents and adopts a private authentication method capable of real-time validity verification, enabling fast and reliable electronic contracts regardless of time and place.

Director Lee Sang-chang of Kibo said, “Kibo is expanding convenience in public services by responding to customer expectations through administrative innovation necessary in the digital era, breaking away from traditional practices,” and added, “We will continue to actively innovate services to respond proactively to environmental changes and strive to become a more trusted institution by providing services that meet the public’s expectations.”