KHFC becomes first quasi-public organization to receive Grand Prize in Ethical Management

The Korea Housing Finance Corporation (KHFC, CEO Joo-jae Lim) announced on April 8, 2011 that it received the Grand Prize in Ethical Management at the 2011 Spring Academic Seminar hosted by the Korean Association of Business Ethics. It is the first time that a quasi-public organization receives the award. 

The association gave high marks to KHFC′s corporate-wide anti-corruption drive, which include the leadership evaluation of KHFC executives by employees, increased discretion given to employees by thoroughly analyzing areas prone to corruption, and structural elimination of corruptive elements by transparently disclosing the decision-making process.  

In addition, KHFC is also putting its ethical management into practice by getting engaged in various social activities, which include home-building, delivery of briquettes, sisterhood with a rural village, natural protection and cleaning, and support of foreign laborers and multi-cultural families.

″The Ethical Management Grand Prize in the category of quasi-public organization is a significant recognition of KHFC's ethical management activities by the academy,″ said a KHFC official. ″The corporation will fully assume its social responsibility by disclosing all processes of decision-making more transparently and firmly establishing a clean organizational culture.″

Meanwhile, KHFC also received a mark of ″Excellent″ in the 2010 anti-corruption public policy evaluation and was ranked number one for integrity in the category of public organizations by the Anti-Corruption & Civil Rights Committee.