A separate fund will be established to encourage public interest whistleblowing on anti-market practices such as collusion and stock price manipulation. This follows President Lee Jaemyung’s directive at the Cabinet meeting in February to "substantially increase reward payments for whistleblowers to change their lives," as part of efforts to eradicate unfair practices.
On May 12, the Ministry of Planning and Budget announced plans to launch the "Public Interest Whistleblower Incentive Fund" to promote public reporting against anti-social acts that harm the national economy and social order.
The current whistleblower reward system operates within the annual budgets of each government agency, making it difficult to pay sufficient rewards in a timely manner. Additionally, as it is impossible to predict the volume of whistleblowing in advance, it has been challenging to estimate the annual budget ahead of time.
To address these issues, the Ministry plans to establish a fund to manage whistleblower reward resources, which are currently distributed across various agencies, in an integrated manner. The fund will allow for autonomous adjustments within a 20% range, enabling more flexible operations.
The fund’s expenditures will prioritize areas where the urgency of incentivizing public interest whistleblowing is high and where monetary sanctions such as fines, penalties, or recoveries are directly linked.
Priority will be given to cases such as collusion reporting handled by the...
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