Cheonan Urban Corporation Faces Harsh First Management Evaluation After Transition

Downgraded from Grade 'Na' to 'Da' Last Year
Low Scores in Management Strategy and Innovation
Full-Scale Establishment of Mid- to Long-Term Management Strategy This Year

Cheonan Urban Corporation received a grade of "Da" in the management evaluation, marking a decline in its first assessment since transitioning from the Cheonan City Facilities Management Corporation.

Cheonan Urban Corporation received a "Da" grade in its first management evaluation since transitioning from the Cheonan City Facilities Management Corporation to a corporation.

The Ministry of the Interior and Safety recently announced the results of a management evaluation conducted for 262 local public enterprises nationwide. The evaluation was based on more than 20 detailed indicators in two main areas: management administration and management performance.

Cheonan Urban Corporation received a "Da" grade, which is one step lower than the "Na" grade it received in both 2022 and 2023, out of the possible Ga to Ma grades.

There is criticism that the drop in the management evaluation grade may be due to insufficient management preparation following the transition to a corporation.

Cheonan Urban Corporation transitioned from the former Facilities Management Corporation to a corporation in September last year. This was the first change in 11 years since the establishment of the Facilities Management Corporation in 2011, and was carried out with the goal of reinvesting development profits from major regional development projects?such as the creation of Seonghwan National Industrial Complex, the extension of the Metropolitan Area Express Railway (GTX) Line C to Cheonan, and the opening of the Cheonan-Sejong Expressway?into the establishment of local public facilities and infrastructure.

However, there have been no visible business achievements during the first year since its launch. This is because the large-scale projects that the corporation was expected to lead have yet to begin. In fact, according to the Ministry of the Interior and Safety's management evaluation, Cheonan Urban Corporation reportedly received low scores in the areas of management strategy and management innovation.

A representative of Cheonan Urban Corporation stated, "Since the specific scores were released on the 9th, we are currently conducting an internal analysis," and added, "It appears that we were not fully prepared to respond to the changes in evaluation indicators that resulted from the transition to a corporation in the second half of last year."

The representative continued, "In particular, although we received low scores in management innovation and strategy, we are currently preparing to establish mid- to long-term management strategies this year," and added, "This result seems to reflect the transitional period following the conversion from a management corporation to a corporation."

Meanwhile, Asan City Facilities Management Corporation, which received a "Da" grade in both the 2022 and 2023 evaluations, achieved the highest "Ga" grade in this year's evaluation.

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