By Nam Hyun-woo
The 10th meeting of the Organization for Economic Cooperation and Development (OECD) Asia Network on Corporate Governance of State-Owned Enterprises took place Tuesday through Wednesday in Kuala Lumpur.
This year's meeting was co-organized by the OECD, the Institute for Democracy and Economic Affairs, and the Malaysian Directors Academy, with the financial support of the state-backed Korea Institute of Public Finance.
Themed "Managing risk and promoting business integrity in the state-owned enterprise sector," this year's gathering attracted government representatives from Asia as well as state enterprises, civil society, international organizations and corporate governance practitioners.
"Governments in both mature and emerging economies are important owners of commercial enterprises and corporatized assets. These state-owned enterprises (SOEs) often supply fundamental services such as water, electricity and transportation that private companies depend upon for their competitiveness, and on which the citizens depend for their quality of life," said Cho Im-gon, executive director at the research centre for SOEs at the KIPF.
"Ensuring that governments efficiently manage these assets is therefore crucial for the competitiveness of the broader enterprise sector, economic growth and sustainable development more generally."
He noted that the two-day meeting has allowed participants to exchange information on recent developments in state ownership and governance practices among participating countries from the region and share good practices for managing risk and promoting business integrity in the state-owned enterprise sector.
"In this context, I am proud to say that the KIPF has been an active participant in the OECD's various initiatives on SOE governance," said Cho, who attended the conference as a speaker.
Cho also said that Korea's experience in developing and implementing online repository of both financial and non-financial information of all public institutions including SOEs is considered as best practice in SOE disclosure in international community.
"I believe this OECD conference has been a great opportunity for Korea to actively share our experience with other emerging economies and developing countries," he said.
Since its establishment in 2006, the OECD-Asia SOE Network has notably supported the dissemination and implementation in Asia of the OECD Guidelines on Corporate Governance of State-Owned Enterprises, the international standard for ensuring that SOEs operate efficiently, transparently and on equal footing with private enterprises.
Through its annual meetings, the OECD-Asia SOE Network takes stock of emerging trends in state ownership in Asia, evaluates them against international standards and identifies elements of good practice to promote continued improvements in state ownership practices in the region. The Network also facilitates closer integration among state ownership practitioners in Asia.
The 10th meeting of the Organization for Economic Cooperation and Development (OECD) Asia Network on Corporate Governance of State-Owned Enterprises took place Tuesday through Wednesday in Kuala Lumpur.
This year's meeting was co-organized by the OECD, the Institute for Democracy and Economic Affairs, and the Malaysian Directors Academy, with the financial support of the state-backed Korea Institute of Public Finance.
Themed "Managing risk and promoting business integrity in the state-owned enterprise sector," this year's gathering attracted government representatives from Asia as well as state enterprises, civil society, international organizations and corporate governance practitioners.
"Governments in both mature and emerging economies are important owners of commercial enterprises and corporatized assets. These state-owned enterprises (SOEs) often supply fundamental services such as water, electricity and transportation that private companies depend upon for their competitiveness, and on which the citizens depend for their quality of life," said Cho Im-gon, executive director at the research centre for SOEs at the KIPF.
"Ensuring that governments efficiently manage these assets is therefore crucial for the competitiveness of the broader enterprise sector, economic growth and sustainable development more generally."
He noted that the two-day meeting has allowed participants to exchange information on recent developments in state ownership and governance practices among participating countries from the region and share good practices for managing risk and promoting business integrity in the state-owned enterprise sector.
"In this context, I am proud to say that the KIPF has been an active participant in the OECD's various initiatives on SOE governance," said Cho, who attended the conference as a speaker.
Cho also said that Korea's experience in developing and implementing online repository of both financial and non-financial information of all public institutions including SOEs is considered as best practice in SOE disclosure in international community.
"I believe this OECD conference has been a great opportunity for Korea to actively share our experience with other emerging economies and developing countries," he said.
Since its establishment in 2006, the OECD-Asia SOE Network has notably supported the dissemination and implementation in Asia of the OECD Guidelines on Corporate Governance of State-Owned Enterprises, the international standard for ensuring that SOEs operate efficiently, transparently and on equal footing with private enterprises.
Through its annual meetings, the OECD-Asia SOE Network takes stock of emerging trends in state ownership in Asia, evaluates them against international standards and identifies elements of good practice to promote continued improvements in state ownership practices in the region. The Network also facilitates closer integration among state ownership practitioners in Asia.
![[ANALYSIS] Tesla, BYD's price cuts unnerve LGES, Samsung, SK](https://img.koreatimes.co.kr/upload/thumbnailV2/b1cf8ba68d474cb69352bfe7ea9d14f0.jpg/dims/resize/178/optimize)
![[INTERVIEW] How ATEEZ achieved worldwide success](https://img.koreatimes.co.kr/upload/thumbnailV2/c7723b56dde94eb4b260950d368fe8fb.jpg/dims/resize/178/optimize)
