On the occasion of its first anniversary in March, the Korea Asset Management Co. announced the results of its DOT Reform Committee to check the progress of the committee’s work in such areas as reform and line up the direction of reform in the days ahead. Under the title of “Restarting KAMCO Reform Rally,” the company held an anniversary event on Feb. 27, which is the 100th day since President Hong Young-man’s inauguration.
President Hong said 2014 was the initial year in the rewriting KAMCO’s history, with everyone in the company working for the reform drive. This year, too, the DOT Reform Committee will work on “simplicity” to reduce ineffective office practices and conduct a year-long campaign dubbed “Work Diet” to make the operation of the company more effective and on target to boost the completeness of KAMCO Story, the CEO said.
Hong said communication should be the base for any reform initiatives. He built trust among management and staff with the CEO Letter and Lunch Box Meeting, which he shared with staff. The meetings with staff led to the introduction of a new personnel policy, the basis of which is that every employee will participate in the personnel moves.
“DOT,” the name of the committee, was taken from the words “daily,” “on the spot” and “together” to reform the official business processes, corporate culture and improve the company’s services for clients, among others. Members of the committee were named through an open application process.
Since its launching on March 17 last year, the committee’s tasks have included initial ideas on management reform, seeking out new business items for the company, and making recommendations on measures to take care of all kinds of major problems in all levels of the company’s operation.
Vitalization of corporate culture is another goal, with the process being the formation of a personnel committee before the company’s relocation to Busan, with all levels of employees becoming members on the committee. The committee decided to assign the employees to the company’s various offices around the country, including the capital area, the Busan head office and other areas so that no one can complain.
One of the committee’s important tasks has been to convince every employee that happiness at the company translates into happiness for everyone, by introducing to the entire company a method to relieve stress to make the company a happy place to work. The committee launched the publication Kamco-E magazine, Kamcozine, and implemented a Casual Day, when every employee comes to the office dressed in casual attire.
The DOT committee also worked on improving customer service. It has provided information on those who have been left out of financial deals by boosting the performance of “the Corner for the Finance for Modest People” so that modest income families can take advantage of automatic interest on their loans and help manage their financial debts.
Kamco confirmed the abilities of the Dot committee and decided to help the second-term DOT committee, which just went into operation, to continue to work on the reform of the company’s operation and vitalizing the corporate culture of the company. Its key words are “Simplicity” and “Customer Value.”
The committee’s reform worked with the company’s net profit, rising 84 percent to 93.9 billion won in 2014, with the debt ration falling 50 percent to 106 percent. KAMCO won a number of awards including the Korea Sharing Presidential Citation, the Education Donation Minister of Education Grand Award, and the Minister of Female Family Award for Harmonious Family and the Clean Evaluation Award from the People Rights Committee — all in 2014.
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