Management Evaluation 'D' Korea Racing Authority, Chairman and Others Voluntarily Return Performance Bonuses
[Asia Economy Sejong=Reporter Kim Hyewon] The Korea Racing Authority, which received a 'D' grade corresponding to 'Poor' in the 2021 public institution management evaluation, has decided to return its performance bonuses.
On the 26th, the Korea Racing Authority announced that Chairman Jeong Gi-hwan, along with the standing auditor and management, decided to voluntarily return performance bonuses to take responsibility for last year's poor management and to promptly normalize management.
Chairman Jeong said, "As the head of the institution, I want to take the lead in overcoming the management crisis," adding, "We will achieve management normalization as soon as possible to ensure that there is no disruption in providing healthy leisure services to the public."
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Due to the impact of COVID-19, the Korea Racing Authority recorded operating losses for two consecutive years in 2020 and 2021 for the first time since its establishment. To overcome this, last year the Authority secured available funds through high-intensity self-help measures, including selling idle land it owned, implementing leave for all employees, and voluntary salary returns by management.
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