Korea Asset Management Corporation (KAMCO) vowed to focus its employees’ capabilities on supporting people-centered government policies in its 61st anniversary ceremony at KAMCO Maru of the Busan International Financial Center (BIFC) on April 6.
“Last year, we took the lead in overcoming the -19 crisis and achieved the best results since the foundation of KAMCO including the launch of the New Start Fund, a national task of the Korean government, expanding its roles as a general partner and reaching 7 trillion won in its statutory capital,” said Kwon Nam-joo, president of KAMCO, in his anniversary speech.
“We are currently facing an unprecedented complex economic crisis,” Kwon said. “Therefore, KAMCO’s roles are crucial in proactively addressing potential risks. We must lay the foundation for making KAMCO a sustainable company with a trailblazing attitude.”
“We need to take a strong sense of responsibility and gather our capabilities to support government policies,” Kwon added. “KAMCO should play a role in bouncing-back finance to support the rebuilding of households, restructurings of companies, and the re-creation of public asset values, centered on the Korean people.”
He said, “Let’s build a win-win business system including internal and external cooperation. For example, it is important to collaborate between business units and stakeholders at each PF site, both internally and externally, in new ways of promoting projects such as real estate PF funds.”
“Let’s practice ethical management for KAMCO trusted by the people," he said. "Let's work together for a more dignified and mature organizational culture using the values of integrity and ethics as our compass.”
Finally, “Let’s do not rest on our laurels,” Kwon concluded. “Let’s use this as an opportunity to better serve the Korean people.”
After the anniversary ceremony, KAMCO President Kwon and 30 employees visited Kiumi Forest at Busan Children's Grand Park to conduct plogging and spring flower planting activities.
They also shared spring flowerpots with park visitors, who had been collecting trash to protect the environment, and shared meaningful social contribution activities in honor of KAMCO’s anniversary with local neighbors. Kiumi Forest is a space for nature experiences and relaxation in the park with donations by KAMCO employees.
Meanwhile, KAMCO’s Public Development Division held an agreement signing ceremony on preventing industrial accidents and safety incidents at construction sites with the Chungcheong Branch of the Korea National Transportation Safety Administration (KTSA) at KAMCO Capital Tower in Daejeon on April 5.
The agreement was signed to protect the people’s lives and safety from construction industry accidents by strengthening safety management at KAMCO’s state-owned property development projects.
Under the agreement, the two organizations will mutually cooperate in safety management site inspections, safety consultation, information exchanges, and safety education for entire processes from the start of KAMCO’s construction projects to their completion in the Chungcheong region.
Accordingly, the Chungcheong branch of the Korea Authority of Land & Infrastructure Safety will visit the construction site of KAMCO’s Gongju Shingwan-dong Complex Community Center in April to provide construction safety consulting and on-site safety training.
“KAMCO places top priority on preventing safety accidents at construction sites,” said Oh Jang-seok, head of KAMCO’s Public Development Division. “We will continue to do our best to ensure the safety of workers at national and public land development sites work by actively reflecting specialized safety management organizations’ know-how.”
Last year, KAMCO achieved zero major accidents for the eighth consecutive year through CEO-led accident prevention activities, such as a safety innovation training program for CEOs of state-run companies and CEOs’ special safety inspection, and efforts to spread a voluntary safety culture.
Those activities included the designation of safety guardians by departments and the introduction of Triple Four Safety Inspection Day.
KAMCO is a quasi-governmental organization established under the “Act on the Establishment of the Korea Asset Management Corporation and Others” that acquires and resolves financial institutions’ non-performing loans, restructures businesses, provides support for the credit recovery of the financially stricken, manages state-owned properties, and settles overdue taxes.
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