New Government Launched... 7 out of 10 Public Institution Heads Have More Than One Year Left in Term

Leaders Index Survey: 70.8% of 331 Public Institution Heads Have More Than One Year Left in Their Terms

With the launch of a new government in South Korea, it has been confirmed that 7 out of 10 heads of public enterprises and public institutions still have more than one year left in their terms.

On the 4th, the inauguration day of the 21st President Lee Jae-myung, the phoenix flag was raised at the Yongsan Presidential Office building in Seoul. Photo by Yonhap News

On June 10, Leaders Index, a corporate analysis research institute, conducted a comprehensive survey of the terms of standing executives at 331 public institutions designated last year, based on disclosures from ALIO, the public institution management information disclosure system. The results were as follows.

Excluding 19 institutions with vacant positions, out of the 331 heads surveyed, 221 (70.8%) have more than one year remaining in their terms, and among them, 130 (41.7%) have more than two years left.

In particular, Leaders Index explained that 56 heads were appointed after the December 3 Martial Law Incident last year, and among them, 53 were appointed after the impeachment was passed. The institute pointed out that this could raise concerns about so-called 'albakgi appointments' (last-minute placements).

This year, the terms of 38 heads (11.5%) will expire. There are already 21 institutions where the terms have ended, including Korea Technology Finance Corporation, Korea Energy Agency, Korea Infrastructure Safety and Technology Corporation, and Korea Power Exchange. Including 19 vacant positions, there are approximately 78 head positions that the new government can fill within this year.

Among public enterprises, 17 out of 31 (54.8%) heads have more than one year remaining in their terms. For quasi-governmental institutions, 39 out of 57 (68.4%) heads have more than one year left. Additionally, among other public institutions, 165 out of 243 (67.9%) heads have more than one year remaining in their terms.

Looking at ministries with more than five affiliated public institutions, all five public institutions under the Ministry of Food and Drug Safety have heads with more than one year left in their terms. In the Ministry of Employment and Labor, 11 out of 12 institutions; in the Office for Government Policy Coordination, 21 out of 25; in the Ministry of Environment, 9 out of 11; and in the Ministry of Land, Infrastructure and Transport, 20 out of 28 institutions have heads with more than one year remaining in their terms.

Leaders Index stated, "Although President Lee pledged during his candidacy to align the terms of public institution heads with the presidential term, under the current system, it will be realistically difficult to replace them all at once in a short period of time."