However, it was reserved, but conditions were imposed, such as further reduction of higher ranks, maintenance of overseas offices, and reinforcement of management performance evaluation.
The Ministry of Strategy and Finance announced on the 29th that it had held the Public Institution Steering Committee presided over by Second Vice Minister Ahn Il-hwan and deliberated and resolved the ‘2021 Public Institution Designation Proposal.’
The Gongun Committee discussed the necessity of designating a public institution by the FSS, but decided to conditionally suspend the designation.
The Gongwoon Committee said, “We have decided to defer the designation of a public institution by the Financial Supervisory Service in consideration of the recent cases of poor supervision and independence in the execution of financial supervision, but to impose stronger conditions.”
The FSS had previously received conditional reservations. As a result of checking the current status of the FSS’s implementation of the existing reservation conditions, the Gongwoon Committee evaluated that they are generally in normal implementation, and then added further strengthened conditions.
First of all, a condition was imposed on the reduction of higher ranks than the plan previously submitted by the FSS. In addition, a condition was attached to the establishment of intensive organizational management efficiency measures such as oversea office maintenance.
In the evaluation of management performance, the proportion of measurement indicators was expanded from 30% to 40%, and incentives were refunded when irregularities were identified in the evaluation process, thereby enhancing fairness and objectivity.
In addition, the customer satisfaction survey was conducted annually at the level of public institutions, and the results were reflected in the management evaluation.
In accordance with the reservation designated on this day, the Financial Services Commission will report the detailed implementation plan of the reinforced reservation conditions to the KORAIL during the first half of the year.
The Gongwoon Committee said, “If the future performance is insufficient, we plan to actively review the designation of public institutions.”
The Gongun Committee decided to closely examine the implementation plan and implementation results of the new reservation conditions so that practical management and supervision of the financial supervisory service for which the designation has been reserved can be strengthened.
On this day, a total of 350 institutions were designated as public institutions in 2021 through deliberation and resolution by the Public Transportation Commission. 36 public enterprises, 96 quasi-governmental institutions, and 218 other public institutions were subject to management under the Act on the Operation of Public Institutions.
Twelve institutions were newly designated and two institutions were de-designated. The Public Finance Agency, which had been designated as other public institution, changed its type to a quasi-governmental institution.
Yeouido Financial Supervisory Service / Photo = Korea Financial News
Reporter Jeong Sun-eun [email protected]