The Ministry of Economy and Finance has strengthened international cooperation by discussing sustainable management of public institutions, artificial intelligence (AI) governance, and ways to link public policy goals with performance evaluation at the Korea-OECD International Policy Forum.
On September 15, the ministry announced that it hosted the 4th Korea-OECD International Policy Forum at the OECD headquarters in Paris. The forum was attended by the Director of the Public Policy Bureau of the Ministry of Economy and Finance, the Ambassador of the Republic of Korea to the OECD, the Director of the OECD Financial and Corporate Affairs Division, and representatives from public institutions in 28 countries and international organizations.
The Korea-OECD International Policy Forum has been held annually since 2023, allowing public institution policy officials from OECD member countries to share policy trends and derive insights into management and operational policies.
This year's forum focused on three main topics: the implementation of sustainable management in public institutions, the introduction of AI and innovation in corporate governance, and the linkage between public policy goals and performance evaluation of public institutions.
The Korean delegation emphasized in the opening remarks the importance of developing the principles of the revised 'OECD Guidelines on Corporate Governance of State-Owned Enterprises' in 2024 into policies and implementation cases suited to each country's circumstances. They noted the need to share experiences and seek practical solutions to achieve stable public services and sustainable outcomes amid environmental changes such as climate change and digital transformation.
Prior to the main sessions, the OECD introduced the current state of governance in Korean public enterprises based on the upcoming '2026 OECD Report on Ownership and Governance of State-Owned Enterprises.'
The first session discussed ways to implement sustainable management in public institutions. Key topics included how ownership entities can translate policy commitments to sustainability into specific goals, incentives, and monitoring systems. The OECD presented key findings from its report on 'State Ownership and Sustainability in Asia,' while the Korea Institute of Public Finance shared examples of developing and applying ESG guidelines to promote ESG management in Korean public institutions.
The second session addressed changes in corporate governance due to AI adoption and corresponding responses. Discussions focused on opportunities and risks associated with data governance, cybersecurity, accountability, and ethical AI use. The OECD released a report on 'Risk Management in State-Owned Enterprises,' and Kim Dong-jin, Director of Public Innovation Planning, introduced the government's role in establishing trustworthy AI governance during the digital transformation process, along with relevant systems and cases in Korea.
The third session explored ways to link public policy goals with performance management in public institutions. Based on the OECD's report on 'Public Policy Goals of State-Owned Enterprises,' participants discussed how to set and manage these goals and incorporate them into performance evaluations. The Korea Institute of Public Finance presented examples of establishing public purposes and operating management evaluations and incentives in Korean public institutions.
Participants from Spain, Morocco, and the International Monetary Fund also shared their experiences in balancing commercial and non-commercial objectives and adjusting performance indicators.
The Ministry of Economy and Finance plans to utilize the discussions and examples shared at this forum in future public institution policy formulation and to continue sharing and collaborating on management and operational policies with OECD member countries.
* This article has been translated by AI.
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