Korea Minting and Security Printing Corporation Selected as Outstanding Government Dividend Institution

The Korea Minting and Security Printing Corporation announced on June 4 that it has been selected as an 'Outstanding Government Dividend Institution,' as recently announced by the Ministry of Economy and Finance.

Based on last year's fiscal performance, three out of forty government-funded institutions were chosen as outstanding dividend institutions.

Exterior view of the Korea Minting and Security Printing Corporation headquarters in Daejeon. Provided by Korea Minting and Security Printing Corporation

The Korea Minting and Security Printing Corporation was recognized as an outstanding institution for its contributions to the national economy, including maintaining three consecutive years of profitable management and dividend payouts through enhanced financial soundness, and achieving a cumulative dividend total of 71.8 billion won since its founding.

Last year, the corporation's operating profit increased by 6.9 billion won year-on-year to reach 17.9 billion won, driven by higher sales of passports and merchandise. Net profit for the year rose by 1 billion won year-on-year to 7.3 billion won. Accordingly, in consultation with the Ministry of Economy and Finance, the corporation paid a dividend of 3.9 billion won in April, in line with a payout ratio of 53%.

Except for the fiscal years 2020 and 2021, when net losses occurred due to COVID-19, the corporation has contributed continuously to national finances by paying a total of 25.3 billion won in dividends over the past ten years.

President Sung Changhoon of the Korea Minting and Security Printing Corporation stated, "Since its establishment in 1951, the corporation has built a foundation of self-reliance without ever receiving government budget support. In particular, it is significant that, despite recent challenges such as the downsizing of the currency business, we have successfully promoted the digital transformation of our core businesses, including mobile local currency and mobile identification, thereby setting an example of returning profits to the public."