Government Dividend Income This Year 1.4 Trillion Won... Dividend Payout Ratio 36.92% 'All-Time High'

[Sejong=Asia Economy Reporter Son Seon-hee] The government announced on the 14th that it will receive a total dividend of 1.4396 trillion won from investment institutions this year. Despite the COVID-19 pandemic, this is an increase of 36.5 billion won compared to last year. The average dividend payout ratio also rose by 3.43 percentage points to 36.92%, marking an all-time high.

The Ministry of Economy and Finance announced that it has completed the dividend procedures for 22 out of 39 government-invested institutions that paid dividends this year. The ministry's general account comprises 919.4 billion won, and special accounts and funds under the jurisdiction of relevant ministries total 520.3 billion won. The remaining 17 institutions were excluded from this year's dividends due to net losses and deficit carryforwards.

The institution with the highest dividend is Korea Land and Housing Corporation, with a total of 584.5 billion won. This is followed by Industrial Bank of Korea (220.8 billion won), Korea Development Bank (209.6 billion won), and Korea Electric Power Corporation (142.1 billion won).

Institutions such as Incheon International Airport Corporation, Korea Airports Corporation, Korea Gas Corporation, and Korea Minting and Security Printing Corporation, which suffered losses due to the COVID-19 pandemic last year, turned to deficits and were excluded from this year's dividend recipients. On the other hand, Korea Electric Power Corporation, Korea District Heating Corporation, Korea Educational Broadcasting System, and 88 Tourism Development Co., Ltd. switched from non-dividend institutions last year to dividend-paying institutions this year.

Dividends are finalized through consultations considering the government's fiscal conditions and the financial soundness of dividend-paying institutions. Regarding the significant increase in government dividend income despite the overall economic difficulties last year, the Ministry of Economy and Finance explained, "Despite net losses of major investment institutions due to COVID-19, this was attributed to the turnaround to net profit of Korea Electric Power Corporation and performance improvements of dividend-paying institutions."

Of the dividends this time, 1.4356 trillion won was collected into the national treasury, and dividends for KBS (3.3 billion won) and EBS (800 million won) will be collected later after approval by the National Assembly's settlement review in accordance with the Broadcasting Act and other regulations.