Korea Minting, Security Printing & ID Card Operating Corporation (hereinafter “KOMSCO”), and Transparency International Korea (hereinafter “TI-K”) have agreed to enter into this Memorandum of Understanding as stated below for the improvement of transparency in the public sector and strengthening public-private partnerships.
Article 1 – PURPOSE
The purpose of this Agreement is to promote active cooperation and mutual exchange between KOMSCO and TI-K in order to establish a transparent administrative culture in the public sector and build strong public-private partnership system.
Article 2 – BASIC PRINCIPLES
Both KOMSCO and TI-K shall cooperate and exchange with one another within the scope of their purpose and activities determined by the relevant statutes, regulations, and articles for establishing a public-private partnership system.
Article 3 – CONTENTS
The two parties hereby agree to cooperate in the undertaking of the following tasks;
- Establishment of a public-private partnership system for the sake of an increase in transparency
- An increase in review index related to Transparency International’s Corruption Perceptions Index (CPI) review
- Exchange of information and institutional improvement for an increase of transparency in the public sector
- Active participation of both parties in activities on transparency and education relevant to anti-corruption events in the public sector
- Other necessary items for mutual exchange or cooperation, etc.
Article 4 – CONSULTATION
Either party may, at any time, request consultations relating to this Agreement if the necessity to do so is approved for the sake of the effective implementation of the Agreement.
Article 5 – COMPLIANCE
The two parties agree that each shall treat all information provided by a Party to other as confidential during the process of entering and executing this Agreement. The information shall not be disclosed to a 3rd party without prior consent, released to the press, or used for purposes other than the activities contemplated in this Agreement.
Article 6 – AMENDMENT
In the event of any modifications in the content of this Agreement, this Agreement may be amended upon mutual consent of the two parties.
Article 7 – TERM
The term of this Agreement shall commence as of the effective date and shall continue for a period of two years. This Agreement may be renewed before its expiry date through a written mutual agreement of the two parties.
Article 8 – ET CETERA
Subjects that are not specified in this Agreement or susceptive to interpretation shall be determined by consultation between the two parties.
In witness whereof, the two parties have caused two copies of this Agreement to be executed and affixed with their names and seals, each of which shall be kept by the respective parties.
July 3rd, 2020
Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO)
Jung Kyun-Young, Executive Auditor
Transparency International Korea (TI-K)
Toe Hyu, Co-Chairperson
Translated by: Jaerin Kim