Korea SMEs and Startups Agency Enhances Transparency of Government Policy Projects with AI

Business Agreement with the Korea Institute for Advancement of Technology to Enhance Audit Expertise Using AI and Data and Promote Anti-Corruption and a Culture of Integrity

The Korea SMEs and Startups Agency announced on October 1 that it has signed a "business agreement to enhance audit expertise using artificial intelligence (AI) and data, as well as to promote anti-corruption and a culture of integrity" with the Korea Institute for Advancement of Technology.

This agreement was established as both organizations, which implement government policy projects such as support programs for SMEs and industry technology R&D, have agreed to share their respective business characteristics and audit experiences. The goal is to jointly advance audit techniques utilizing AI and data technologies, thereby enhancing the transparency and accountability of government policies.

Lee Heungbeom, Standing Auditor of the Small and Medium Business Corporation (left), is taking a commemorative photo after signing a business agreement with the Korea Institute for Advancement of Technology. Small and Medium Business Corporation

Specifically, the two organizations have agreed to cooperate in the following areas: sharing cases and techniques of AI- and data-based auditing and anomaly detection; exchanging audit information and best practices in the implementation and management of government-supported programs; conducting cross-disciplinary and joint audits as well as personnel exchanges among auditors; verifying and sharing improvements to the effectiveness of internal control systems; advancing risk management and monitoring systems to prevent improper or inappropriate support; and providing education and facilitating exchanges to strengthen anti-corruption, integrity policies, and overall audit capabilities.

In particular, both organizations plan to continually identify ways to leverage a variety of data accumulated from support histories by company and project, as well as data generated during project implementation. This includes the proactive detection of potential risk factors such as overlapping or excessive support, improper execution, and blind spots in management, using the data for audits and internal controls.

Heungbeom Lee, Standing Auditor of the Korea SMEs and Startups Agency, stated, "As the scale and complexity of government support programs have increased, audit systems that use AI and data to proactively identify risk factors have become crucial." He added, "By actively sharing the expertise and audit know-how that both organizations have accumulated in SME support and industry technology R&D, we will continue to prevent improper or inappropriate support and drive audit innovation that earns the public's trust."

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