Korea East-West Power Selected as 'Excellent Disclosure Institution' for 3 Consecutive Years

[Asia Economy Reporter Moon Chaeseok] Korea East-West Power announced on the 1st that it was selected as an institution with zero penalty points for three consecutive years as a result of the '2019 Integrated Disclosure Inspection' conducted by the Ministry of Economy and Finance.

The inspection was conducted on 331 public institutions and covered 18 items including new hires and summarized financial statements.

Public institutions are required to disclose key management information on ALIO, the public institution management information system.

If they fail to disclose or disclose false or delayed information, penalty points ranging from 1 to 5 are imposed.

The average penalty points of the inspected public institutions recorded 7.7 points.

Nine institutions, including East-West Power, were selected as excellent disclosure institutions by recording zero penalty points for three consecutive years.

The inspection results will be reflected in the '2019 Management Performance Evaluation of Public Enterprises and Quasi-Governmental Institutions' conducted by the Ministry of Economy and Finance.

Institutions with zero penalty points for three consecutive years are exempted from disclosure inspections the following year.

A representative of East-West Power said, "Being designated as an excellent disclosure institution for three consecutive years is recognition of our efforts to provide accurate, prompt, and convenient information desired by the public," adding, "We will continue to do our best to enhance management transparency and reliability and improve disclosure quality."

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