March 22, 2019

Gov’t to overhaul ownership, evaluation system of state firms

PUBLISHED : June 14, 2018 - 14:31

UPDATED : June 14, 2018 - 14:31

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[THE INVESTOR] The government will push for the drastic overhaul of state firms’ ownership structure, evaluation system and other schemes in a way that helps them seek voluntary changes, a high-ranking government official said on June 14.

In a forum, Deputy Finance Minister Kim Yong-jin said the government will roll out a set of measures soon to revamp the state-invested firms, after gathering opinions from various sectors.

“State firms should regain the confidence tarnished by corruption and irregularities. What‘s more important is that they should seek voluntary change, and to that end, the government will review their ownership, payment and assessment schemes, he said.

President Moon Jae-in has called for stepped-up efforts to eradicate what he called deep-rooted and pervasive job-related corruption at public firms.

By Song Seung-hyun and newswires (

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