Korea Student Aid Foundation Receives A Grade in Management Evaluation… Chairman Bae Byeong-il: "We Will Become the Best Public Institution"

The Korea Student Aid Foundation announced on the 20th that it received an A (Excellent) grade in the 2022 Public Institution Management Performance Evaluation announced by the Ministry of Economy and Finance.

Although the Korea Student Aid Foundation received a D grade (Unsatisfactory) in 2018, through the efforts of all employees, it achieved a B grade (Good) for three consecutive years (2019?2021) and attained an A grade (Excellent) in the 2022 management evaluation.

Korea Student Aid Foundation

The Public Institution Management Performance Evaluation is a system that evaluates the comprehensive management performance of 130 public enterprises and quasi-governmental institutions. The evaluation is conducted by a management evaluation team composed of various private experts such as professors, accountants, and lawyers, assessing management control, major projects, and other aspects of the institutions.

This evaluation was the first to reflect the new government’s policy direction, focusing on a balanced assessment between efficiency and public interest. The Korea Student Aid Foundation was recognized for sound management of financial performance indicators such as productivity, financial soundness, and cost reduction efforts, as well as achievements in introducing job-based pay and implementing public institution innovation efforts.

Key achievements of the Korea Student Aid Foundation’s major projects positively evaluated include the expansion of tiered national scholarship support to reduce university tuition burdens, achieving the lowest-ever student loan interest rate of 1.7% per annum to alleviate tuition burdens amid worsening household economic conditions due to rising market interest rates, low-interest refinancing loans, and support for graduate students through Income Contingent Loans (ICL).

Byung-il Bae, Chairman of the Korea Student Aid Foundation, stated, “In line with the new government’s policy direction, we will continue to focus on managing financial soundness and implementing innovation plans to ensure smooth foundation innovation.” He added, “In 2023, we will do our best to continuously become the most trusted and beloved public institution in Korea.”

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