On September 15, the Ministry of Finance and Economy (MOFE), together with the Organisation for Economic Co-operation and Development (OECD), held the 4th Korea-OECD Seminar on Corporate Governance of State-Owned Enterprises* at the OECD headquarters in Paris, France.
* Launched in 2023 and jointly held annually by Korea and the OECD, the seminar brings together officials responsible for public institution policies from OECD member countries and other participating countries to share policy developments concerning public institutions and draw policy implications for their management and operation.
The forum brought together the Director General for Public Institutions Policy at MOFE, the Ambassador of Korea to the OECD, the Director of the Directorate for Financial and Enterprise Affairs at the OECD, and officials responsible for public institution policies from 28 countries and international organizations. Participants discussed their policy experiences and future challenges under three themes* related to the management and operation of public institutions.
* ❶ Implementing sustainable management in public institutions
❷ AI adoption and corporate governance reform of state-owned enterprises
➌ Linking public policy objectives with performance evaluation of public institutions
In its opening remarks, the Korean delegation underscored the importance of translating the principles of the OECD Guidelines on Corporate Governance of State-Owned Enterprises, revised in 2024, into policies and implementation practices tailored to each country’s circumstances. It also emphasized the need for countries to share their experiences and explore practical solutions so that public institutions can deliver reliable public services while achieving sustainable performance amid changes such as climate change and digital transformation.
Ahead of the main sessions, the OECD presented an overview of the corporate governance of Korean state-owned enterprises, drawing on key findings from the forthcoming OECD Ownership and Governance of State-Owned Enterprises 2026.
Session 1*, which focused on sustainable management of public institutions, explored how ownership entities can translate policy commitments on sustainability into concrete targets, incentives, and monitoring frameworks. The OECD presented key findings from its report State Ownership and Sustainability in Asia, while the Korea Institute of Public Finance (KIPF) presented Korea’s experience in developing and applying ESG guidelines to promote ESG management across public institutions.
* Participants: Korea, France, Sweden, Poland and the OECD
Session 2*, which discussed AI adoption and corporate governance of state-owned enterprises, examined the opportunities and risks associated with AI, covering data governance and cybersecurity, accountability, and ethical use. The OECD presented its report Managing Risk Across State-Owned Enterprises, while Director of the Public Institutions Reform Division Kim Dong Jin introduced the government’s role in building trustworthy AI governance amid digital transformation, along with Korea’s related policies and practices.
* Participants: Korea, Moldova, and the OECD
Session 3*, which focused on linking public policy objectives with performance management, explored how to set and manage public policy objectives for state-owned enterprises and incorporate them into performance evaluations, drawing on the OECD report Public policy objectives of state-owned enterprises. The KIPF presented Korea’s experience in defining the public objectives of public institutions and operating performance evaluation and incentive systems. Participants from Spain, Morocco, and the International Monetary Fund (IMF) also shared their experiences in balancing commercial and non-commercial objectives and adjusting performance indicators.
* Participants: Korea, Spain, Morocco, the IMF, and the OECD
MOFE will use the discussions from the forum and the policy experiences shared by participating countries to inform the development of future policies for public institutions. It also plans to continue sharing policy practices and cooperating with OECD members on the management and operation of public institutions.
Please refer to the attached files.
