82% Achievement of Performance Goals by 60 Central Agencies... Ministry of Environment, Ministry of Science and ICT, and Korean Intellectual Property Office Recognized as 'Excellent'

Achievement Rate of Central Government Agencies' Financial Project Goals Rises by 5.2%p Year-on-Year
Marks All-Time High
Four Agencies Named as Comprehensive Excellent Institutions, Including Korea Coast Guard

Last year, the achievement rate of performance goals related to financial projects of 60 central government agencies exceeded 82%, marking an all-time high. The comprehensive excellent institutions announced after evaluating the performance of each central agency last year included the Ministry of Environment, the Ministry of Science and ICT, the Korean Intellectual Property Office, and the Korea Coast Guard.

On the 8th, the Ministry of Economy and Finance reported the '2024 Fiscal Year Performance Goal Management Results' at the 15th Cabinet Meeting held at the Government Seoul Office in Jongno-gu, Seoul. This report included the 'status of performance goal achievement' and the selection results of 'excellent institutions and excellent/insufficient programs in performance goal management' related to financial projects of 60 central government agencies.

The achievement rate of performance goals for the 60 central government agencies was 82.1%, an increase of 5.2 percentage points compared to the previous year. This is the highest achievement rate ever recorded. The Ministry of Economy and Finance explained that this was "due to the focused and strategic efforts of each central agency to enhance performance following the application of the principle of setting one performance indicator per program, which was implemented starting last year." It added, "The number of ministries exceeding an 80% achievement rate also rose to 58.3% (35 central agencies), up 13.5 percentage points from the previous year, accounting for the majority," and noted that "the level of financial performance achievement has improved compared to previous years."

Starting this year, the newly implemented 'Selection of Excellent Institutions and Excellent/Insufficient Programs in Performance Goal Management' is a system introduced to increase accountability related to financial project performance management according to this year's financial project performance management promotion plan. This year, the Ministry of Economy and Finance and the Financial Performance Evaluation Group jointly evaluated the performance reports of each central agency, selecting six excellent institutions and six excellent and insufficient programs respectively. The Financial Performance Evaluation Group operates under the National Finance Act to provide advice, investigation, and evaluation for managing financial project performance goals and is composed of 26 private experts.

Institutions selected as 'Comprehensive Excellent Institutions' based on quantitative criteria such as performance achievement, budget execution rate, and indicator appropriateness included ▲Ministry of Environment ▲Ministry of Science and ICT ▲Korean Intellectual Property Office ▲Korea Coast Guard. Ministries that showed significant improvement in performance achievement compared to the previous year, designated as 'Institutions with Excellent Performance Improvement,' included ▲Ministry of Health and Welfare ▲Ministry of Justice.

Excellent and insufficient programs were evaluated not only on quantitative criteria but also on qualitative criteria such as efforts to improve performance in response to parliamentary remarks and excellence in performance.

The excellent programs selected this time were ▲Regional Agricultural Specialization (Rural Development Administration) ▲Development of Future Promising Core Technologies (Ministry of Science and ICT) ▲Structural Safety Activities (Korea Coast Guard) ▲Student Support (Ministry of Education) ▲National Land and Transportation Informatization (Ministry of Land, Infrastructure and Transport) ▲Import and Export Customs Clearance (Korea Customs Service).

On the other hand, six programs were selected as insufficient programs due to the need for efforts to improve performance, including ▲US Military Base Relocation Project (Ministry of National Defense) ▲Support for Sale Housing, etc. (Ministry of Land, Infrastructure and Transport) ▲Enhancement of Food and Nutrition Safety (Ministry of Food and Drug Safety) ▲Operation of the National Hangeul Museum (Ministry of Culture, Sports and Tourism) ▲Financial Support for Agriculture, Forestry and Fisheries (Financial Services Commission) ▲Vocational Competency Development (Ministry of Employment and Labor).

The Ministry of Economy and Finance stated, "For projects corresponding to programs selected as excellent or insufficient in the performance report, we will actively utilize them in financial management, such as by awarding additional or reduced points during autonomous evaluation of financial projects." It added, "We will provide commendations and awards to excellent performance goal management personnel" and said, "We plan to continue strengthening performance management by preparing measures to improve expenditure efficiency for low-performance programs."