Promoting 'Incentive Expansion' to Enhance Quality of Public Institution Management Disclosure

Rationalization of Penalty Criteria Including Reduction of Penalty Points for Some Items and Proportional Penalty Points Based on Number of Disclosures

[Asia Economy Reporter Kwangho Lee] Recently, public interest in the management information of public institutions has increased, leading to a surge in visitors to Alio (Management Information Disclosure System), making the demand for prompt and accurate information provision even greater.

The Ministry of Economy and Finance announced on the 10th that it plans to implement institutional improvement measures from 2021, focusing on 'expanding incentives' and 'rationalizing penalty point criteria' to provide more accurate management information of public institutions.

First, to expand incentives for public institutions' efforts in management disclosure, the designation requirements for excellent disclosure institutions for other public institutions will be relaxed from the current 3 years to 2 years. Additionally, to reflect the level of effort by institutions, those that reduce penalty points by more than 50% compared to the previous year will be designated as Disclosure Improvement Institutions (newly established).

Institutions designated as Excellent Disclosure Institutions and Disclosure Improvement Institutions will receive partial additional points in management performance evaluations, and the responsible personnel will be provided incentives such as commendations from the Minister of Economy and Finance.

Also, considering the disclosure burden on institutions, to rationalize penalty point criteria, penalty points for recruitment information items, which impose a significant disclosure burden on institutions, will be reduced by 50% compared to the current standard (currently 3.0~1.5 points per case → improved to 1.5~0.75 points per case). For disclosure items with a large number of disclosures, penalty points will be imposed proportionally to the number of disclosures (currently 0.1 points per case → improved to 0.01~0.1 points per case).

Furthermore, newly designated public institutions will be required to conduct one-on-one mentoring with Excellent Disclosure Institutions, and the designation of non-compliant disclosure institutions for the current year will be deferred to actively support the strengthening of disclosure capabilities.

A Ministry of Economy and Finance official stated, "We will strive to ensure that information about public institutions desired by the public is disclosed more transparently and accurately through Alio."

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