Sino-Korean Petrochemical achieves digital closed-loop management across the entire contract lifecycle

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Recently, Sino-Korea Petrochemical completed the online archiving of 1,316 contracts since last year, marking the company’s official achievement of a fully digital closed-loop management process for electronically signed contracts – covering everything from their creation and signing to execution and archiving. Contract archive management has thus entered a new era of complete digitization. This is a key measure taken by the company to drive digital transformation and improve the quality and efficiency of document management, implemented in collaboration between the Development Technology Department and the Corporate Management Department. Leveraging their expertise in records management and legal affairs, the two departments have established a secure and reliable online archiving mechanism through multiple rounds of system integration, process testing, and data verification. At present, all departments of the company have completed the bulk submission of contracts that have already been executed; subsequently, online confirmation, unified numbering, and archiving will be implemented to transform contract documents into standardized, usable digital archives. To accommodate all types of contracts, Sinokorea Petrochemical implements differentiated management for paper contracts and electronically signed contracts: after being collectively submitted on an annual basis, paper contracts are entered into the system through standardized procedures such as scanning and cataloging ； Electronic signed contracts are pushed directly through system interfaces and undergo strict verification of the \"four properties\" to ensure authenticity, integrity, security, and usability. All contracts are ultimately incorporated into a digital archive, enabling the digital integration and efficient sharing of archival resources. The full implementation of online archiving for contracts represents an important effort by Sino-Korean Petrochemical to actively respond to the group company’s initiatives for digital transformation and to improve its compliance management capabilities. This initiative not only significantly improved the efficiency and standardization of contract management but also provided a replicable model for the digital management of various business documents in the company. It further enhanced the ability to make full use of information resources and to manage risks, thereby injecting new digital momentum into high-quality development.