South Korean elected to IOPC Funds audit body for first time

South Korea has produced its first member of the Joint Audit Body of the International Oil Pollution Compensation Funds, known as IOPC Funds — the international body that oversees the financial and administrative operations of a compensation fund for marine pollution caused by oil tanker accidents.

The Ministry of Oceans and Fisheries announced Friday that Choi Seong-yong, chairman of the Korea Maritime Cooperation Center, was elected to the Joint Audit Body at the IOPC Funds general assembly held Thursday in London.

The IOPC Funds is an international organization established to compensate victims of oil spills from tankers. It currently has 122 member states. When damages from an accident exceed the legal liability limit of the shipowner, the fund covers losses of up to 370 billion won ($279 million).

The Joint Audit Body, on which Choi will serve, oversees the transparency and efficiency of the fund's operations, conducting audits of its finances and overall administration. Six members are elected by a vote of member states, each serving a three-year term renewable once.

Choi is a specialist with more than 30 years of experience in maritime safety and the marine environment. He previously served as director general of the Maritime Safety Bureau at the Ministry of Oceans and Fisheries and as an adjudicator at the Central Maritime Safety Tribunal. He also worked at the International Maritime Organization Secretariat, gaining firsthand experience in international organization management.

The election follows South Korea's earlier success this year, when Ministry of Oceans and Fisheries official Im Chang-hyeon was elected vice chair of the IMO's Sub-Committee on Pollution Prevention and Response in February.

Jeong Do-hyeon, director general of the ministry's Maritime Safety Bureau, said the latest election — coming after Im's appointment as vice chair of the IMO pollution prevention committee in February — "demonstrates South Korea's growing stature and capabilities in the international maritime arena." He added that the ministry would "do its utmost to ensure South Korea plays a leading role in the key decision-making and operational processes of international organizations."