Four Public Institutions Including Automobile Damage Compensation Promotion Agency Newly Designated This Year

Four More Institutions Newly Designated as Public Institutions
Quasi-Governmental Agencies Increase to 57, Other Public Institutions to 243

Kim Yunsang, the 2nd Vice Minister of the Ministry of Economy and Finance, is announcing the results of the public institution management performance evaluation and follow-up measures on the 19th at the Government Seoul Office in Jongno, Seoul. Photo by Jo Yongjun jun21@

Four organizations, including the National Asia Culture Center Foundation, the Sports Ethics Center, the Automobile Damage Compensation Promotion Agency, and the Korea Life Respect Hope Foundation, were newly designated as public institutions this year. The Korea Fiscal Information Service under the Ministry of Economy and Finance was reclassified from an other public institution to a quasi-governmental agency.

On the 21st, the Ministry of Economy and Finance held the 'Public Institution Management Committee' chaired by Kim Yoon-sang, the 2nd Vice Minister of the Ministry of Economy and Finance, and reviewed and approved the '2025 Public Institution Designation Plan.'

It was announced that a total of 331 institutions were designated as public institutions. This is an increase of four compared to 327 institutions a year ago.

Specifically, the number of public enterprises decreased by one to 31 compared to last year. The Korea Coal Corporation was reclassified from a public enterprise to an other public institution due to a reduction in staff.

With the addition of the Korea Fiscal Information Service and the Korea National Arboretum Management Institute due to type changes, the number of quasi-governmental agencies increased from 55 to 57. The number of other public institutions also rose from 240 to 243.

Institutions designated as public institutions are subject to management and supervision under the Act on the Management of Public Institutions.

The Ministry of Economy and Finance expressed expectations that "newly designated institutions will enhance transparency in their operations through management disclosure and customer satisfaction surveys."

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