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Vol. 8 ('25.4Q)
The Frontline
HMG Internal Control over Financial Reporting Newsletter
We offer a quarterly newsletter to help you gain an understanding and insight into the ICFR(Internal Control over Financial Reporting).
In this issue, we cover the recent social controversy surrounding the “Coupang Data Breach Incident.” Amid criticism of inadequate internal controls, we explore the key implications and lessons to be learned.
Additionally, we have included the adoption of ICFR by public corporations and expert opinion related to the recent amendments to the Commercial Act, providing you with insights into the latest trends in ICFR.
We hope to provide you with the opportunity to gain familiarity with ICFR through various contents, and your active attention to ICFR is highly appreciated.
News
[News Article Summary]
We have summarized articles related to fraud, embezzlement accidents, and ICFR trends that are of issue recently. Through this, we hope to raise the company's awareness on fraudulent accidents and ICFR. (Click on the picture to see the full article. Please note that links to the original article inevitably appears as it is in Korean.)
Opinion
[Expert Opinion]
Through the opinions of experts, we consider the direction of effective internal control improvement and derive solutions.
< Through the opinions of experts, we consider the direction of effective internal control improvement and derive solutions. >
Jin-Kook Kim, Partner, Samil PwC
The 2025 amendment to the Korean Commercial Act constitutes the most significant revision in over a decade, marking a pivotal inflection point for Korean corporate governance. The amendment’s principal objectives are to reinforce shareholder rights, enhance board oversight, protect minority shareholders, and strengthen management accountability.
Cartoon
[ICFR cartoon]
Annual Operation
[Annual Operation and FAQ]
※ The ICFR annual schedule and FAQ are limited to Hyundai Motor Company only.
Please contact the ICFR managing team of your company for your ICFR annual schedule and other questions.
[Contact Us]
Please contact to the email below if you have any questions.
sh.moon@hyundai.com (Accounting Policy Team Seonghoon Moon Manager)
This newsletter has been sent for executives and employees to comply with K-SOX training obligation under the Korean External Audit Act (Enforcement Decree Article 9)
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