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Since the mid-1990s the international community has increasingly sought to create comprehensive and systematic international anti-corruption rules, in recognition that corruption in international business transactions detracts from development and eco-nomic efficiency. Empirical studies overwhelmingly show that such corruption -- bribery in particular -- impairs fair competition and thus undermines inter-national trade and investment. Korea in unprecedented measure has consistently and actively supported strides against corruption over the last decade, having long endured its corrosive impacts. It not only signed OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, but at the national level established an independent presidential body, the Korea Independent Commission against Corruption. This clearly shows Korea’s recognition of negative effects of corruption on the national economy, which increasingly hinges on international evaluation of economic integrity.


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Corruption, Bribery, International Anti-Corruption Activities, Korea