On the occasion of its 54th anniversary, Korea Asset Management Corp. (KAMCO) declared a new vision during a ceremony at Busan International Financial Center. All of the executives and staff of the company were in attendance.
The new vision calls on its officers and staff to be thoroughly responsible for their duties and to strengthen their professionalism as employees of the state-owned enterprise.
In order to cope positively with the ever-changing business environment, the new vision calls for the company to integrate its asset management operation, and firm up its identity as a public asset management organization.
KAMCO will do everything it can to stabilize the financial market, boost the value of government assets and strengthen the base for management reform, the three major objectives along with nine strategic tasks including the extension of its support for the takeover of assets in default, which are to be pushed at all times.
Under the new vision, KAMCO will make its financial network the bedrock of the financial stability of corporate and household financial customers, and boost the value of assets owned by state, local autonomous organizations and public organizations. At the same time, it will upgrade the soundness of the treasury to support the stable growth of the national economy.
In the meantime, President Hong Young-man held a signing ceremony for “K-Reform Leader 2016 Results at BIFC on March 15 in a bid to expand the corporate culture of reform and results. All of their officers and staff attended.
At the event, President Hong signed the result agreement for 2016 with each of the reform leaders (a.k.a. department managers) so that KAMCO will continue to undertake management reform to ensure the company always wins over the love of the people and takes up new challenges to be a top state-run organization in the country.
All department managers read their declaration to work for management reform and submit reform plans at the event. Professor Shin Wan-sun of Sungkyunkwan University delivered a speech on management reform and leadership to wind up the event.
President Hong said the most important thing in management reform is continuing to push reform not satisfied with the successful results in the previous year.
KAMCO will continue to promote KAMCO-type management reform including reform of its operational process to be centered on people, establishment of the result-centered corporate culture at KAMCO, and early formation of the company-wide common understanding on the need for management reform and expanded communication with the union spearheaded by reform leaders.
KAMCO so has been pursuing self-innovative reform by the departments with the main objective being simplification based on a KAMCO-type reform.
So far the company tried to reform its financial structure, normalization of KAMCO as a public company, searching for issues and reform through self-innovative reform framework, providing support for SME structural reform and KAMCO doing its bid to go along with the 3.0 government policy allowing the issuance of credit cards to the financially unstable companies that restructure and repay their debts in small amounts in a sincere way in cooperation with KB Kookmin Card and the Financial Services Commission.
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