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Busan Metropolitan City and Busan Technopark Launch Sweeping Management Reform to Strengthen Transparency and Accountability

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Busan Metropolitan City announced that, following the results of its recent comprehensive audit of Busan Technopark, it will implement intensive reform measures to strengthen transparency and accountability in the institution’s operations.

First, to ensure Busan Technopark’s sustainable growth and restore public trust, Busan Metropolitan City has decided to establish the Busan Technopark Innovation Committee with the participation of external experts.

The Innovation Committee will go beyond simply correcting issues identified in the audit. It will conduct a fundamental review of the organization’s overall operations and develop reform measures to help Busan Technopark reestablish itself as a specialized institution leading regional industrial innovation.

Composed of external experts from a wide range of fields, including accounting and finance, research equipment operations, management consulting and civil society organizations, the Innovation Committee will objectively and professionally assess all aspects of the institution’s operations. These will include organizational management reform, financial soundness, more efficient operation of research equipment, improvements to the project structure and performance management system, stronger ethics, integrity and internal controls, and enhanced institutional competitiveness. Based on this assessment, the committee will propose a sustainable organizational operating system and management reform measures capable of responding to future changes in the operating environment.

Busan Metropolitan City will also expand the annual supervisory inspections conducted by its Industrial Policy Division into a joint inspection system involving the departments responsible for major projects.

Through this system, the city plans to comprehensively oversee the appropriateness of project implementation, the efficiency of budget execution and the implementation of reform initiatives, while establishing an ongoing management framework to ensure that the internal control system takes firm root.

In addition, Busan Metropolitan City plans to strengthen internal checks and oversight by seeking to appoint an external professional as head of Busan Technopark’s Audit Office, a position that is currently vacant.

By appointing an external head of the Audit Office, the city aims to prevent undue leniency within the institution and enhance independence and professionalism across accounting, contracting, employee conduct and human resources management.

Busan Metropolitan City intends to use these measures as an opportunity to accelerate institutional reform so that Busan Technopark can faithfully fulfill its fundamental role as a specialized organization dedicated to fostering regional industries and supporting businesses.

Park Dong-seok, Director General of the Advanced Industry Bureau of Busan Metropolitan City, said, “This reform is not simply a follow-up measure in response to the audit findings, but a comprehensive reform project aimed at fundamentally transforming Busan Technopark. We will make every effort to ensure that Busan Technopark is reborn as a key institution leading regional industrial innovation and establishes itself as an organization trusted by citizens and businesses.”