Railroad Corporation Operates Internal Control System... "Mitigating Management Risks"

The Korea Rail Network Authority announced on the 11th that it has completed the establishment of an internal control system to ensure organizational transparency and prevent errors in the work process, and will begin full-scale operation.

Last year, the Rail Network Authority introduced an internal control strategic framework, setting the vision and goals of the internal control system, four major strategic tasks, 12 implementation tasks, and key performance indicators.

This year, the Authority established internal control operation guidelines and manuals, and developed detailed implementation plans, thereby building a preventive system that allows executives and employees to manage and control themselves during the work process.

By the end of the year, the Rail Network Authority plans to rapidly promote internal control education and publicity, revamp the risk checklist that could negatively impact the Authority, operate the internal control committee, and conduct evaluations of internal control operations to ensure the internal control system is firmly established within the organization.

Lee Seong-hae, Chairman of the Rail Network Authority, stated, “We will strive to operate the internal control system effectively to lead the future of railways as a public institution trusted by the people.”

This content was produced with the assistance of AI translation services.