[2020 National Audit] Despite Employment Difficulties... Five Public Institutions under the Ministry of SMEs and Startups with Double-Digit Resignation Rates

Disability Enterprise Support Center Reports 50% One-Year Turnover Rate with 5 out of 10 New Hires Leaving Last Year

On the morning of the 15th, Lee Cheol-gyu, a member of the People Power Party, questioned Yoo Hyang-yeol, president of Korea South-East Power Co., Ltd., regarding Optimus during the National Assembly inspection of Korea Electric Power Corporation, Korea Hydro & Nuclear Power, and Korea South-East Power held at the National Assembly in Yeouido, Seoul. Photo by Yonhap News Agency

[Asia Economy Reporter Kim Heeyoon] There have been criticisms that the turnover rate at public institutions under the Ministry of SMEs and Startups is excessively high. It is considered unusual that public institutions, where stable employment is possible with quasi-civil servant status amid the employment crisis, have high turnover rates.

On the 26th, according to turnover rate data submitted by 11 public institutions under the Ministry of SMEs and Startups to Lee Cheolgyu, a member of the National Assembly’s Industry, Trade, Energy, SMEs and Startups Committee from the People Power Party, five institutions showed a one-year turnover rate exceeding double digits.

The Disabled Enterprise Comprehensive Support Center had a one-year turnover rate of 50%, with 5 out of 10 employees hired in 2019 leaving.

Following were ▲Korea Institute for SMEs and Startups Research (18.2%) ▲Korea Technology and Information Promotion Agency for SMEs (14.3%) ▲Korea SMEs and Startups Distribution Center (12.2%) ▲Korea Venture Investment Corp. (11.1%) ▲Korea SMEs and Startups Agency (9.9%) ▲Public Shopping (6.1%) ▲Korea Institute of Startup & Entrepreneurship Development (5.4%) ▲Small Enterprise and Market Service (3.9%) ▲Korea Technology Finance Corporation (1%), in that order. The Credit Guarantee Foundation Central Association, which hired 10 people last year, had no resignations.

The three-year turnover rate also tended to be high in institutions with high one-year turnover rates.

Korea Venture Investment Corp. had the highest three-year turnover rate at 26.2%, with 17 out of 65 employees leaving over three years. Following were ▲Korea SMEs and Startups Distribution Center (17.6%) ▲Korea Technology and Information Promotion Agency for SMEs (17.2%) ▲Korea Institute of Startup & Entrepreneurship Development (16.8%) ▲Small Enterprise and Market Service (15%) ▲Korea Institute for SMEs and Startups Research (13.6%), all recording double-digit turnover rates.

Assemblyman Lee said, “The more resignations there are, the heavier the workload on existing employees, and the cost and time to train new employees are considerable, making work disruptions inevitable. To support stable policy implementation, public institutions under the Ministry of SMEs and Startups should conduct organizational diagnoses and prepare measures to reduce turnover rates.”

This content was produced with the assistance of AI translation services.