Public corporations see earnings surge in 2014
South Korea's public corporations and state-run institutions saw their earnings jump in 2014 from a year earlier thanks to an overhaul of their operations and debt reduction efforts, the government said Wednesday.
The combined net of 116 public corporations and institutions reached 11.3 trillion won ($10.1 billion) last year, up from 5.3 trillion won in 2013, the finance ministry said.
Of the total, 36 corporations paid dividends of 880 billion won to the government last year, up 42.3 percent from the previous year.
The ministry said 18 highly indebted corporations were able to cut their debts by 35.3 trillion won last year, 3.1 trillion won more than originally planned.
In addition, 116 public companies slashed welfare benefits for employees by 27.8 percent, or 154.8 billion won, over the cited period.
Despite the improvements, the ministry said it is recommending the dismissal of three public enterprise chiefs for poor performance.
Presiding over a meeting on the assessment of public corporations, Finance Minister Choi Kyung-hwan said the ongoing public sector reform drive is making positive progress.
"The first phase of reforms that kicked off last year has resulted in tangible improvements," he said. "There have been concerted efforts to tackle managerial inefficiency."
Sales of redundant assets and readjustments of projects have helped reduce the total public-sector debt significantly, the minister said.
As of end-2014, the liabilities of public corporations were 13 trillion won lower than the 510 trillion won target set by the government.
Choi, who doubles as deputy prime minister for economic affairs, said the government will push forward with the second phase of public sector reforms centered on the introduction of a wage peak system for state-supported entities, which could enable public corporations to hire some 6,700 young people in the 2016-2017 period. (Yonhap)
(责任编辑:产品中心)
- Footage of Kim Yo
- 特色烧烤大比拼 石棉风味获赞誉
- GDPR meltdown: A bunch of U.S. news sites are down in Europe
- ISIS attacks on Paris, Russian plane, Beirut escalate the threat.
- 24 of the Oldest Trees in the World
- 抖音超600万次传播量!广东省农事运动会乡村直播大赛火出圈
- Ighalo double denies Rooney as Manchester United move into FA Cup quarters
- The Chinese city that makes the world's flags knew Trump would win
- Watch Katy Perry perform on the campaign trail for her pal, 'Hilly C'
- Webb telescope discovers 6 rogue worlds. They didn't form the way you'd expect.
- China's Xi arrives in North Korea for talks with Kim Jong
- Best Amazon deal: Grab the Kindle Scribe essentials bundle for 38% off
- Police probe alleged cover
-
市民填写献血相关表格8月22日晚,雨城区正黄时代天街广场天桥旁停靠着一辆献血车,身穿红马甲的志愿者们正向路过的市民发放无偿献血宣传手册,不少市民停下脚步,参与无偿献血。这是雅安市中心血站开启夜间献血模 ...[详细]
-
Rooney will have point to prove against Manchester United: Solskjaer
LONDON:Ole Gunnar Solskjaer believes Manchester United great Wayne Rooney will be a threat in Thursd ...[详细] -
You blew it, America: World reacts to a Trump presidency on Twitter
Good one, America. Good. One. The American people have spoken, electing Donald Trump president. And ...[详细] -
Woman goes into labor and still takes time to vote before giving birth
We're sure Sosha Adelstein would love to hear your excuse for not voting.The Boulder, Colorado, woma ...[详细] -
How to watch 'Kinds of Kindness': When is it streaming?
Table of ContentsTable of ContentsThe best streaming deals to watch 'Kinds of Kindness':BEST FOR NEW ...[详细] -
Satellites in space see lava pouring from Hawaii's Kilauea volcano
From the ground, lava pouring from Hawaii's Kilauea volcano can look terrifying. Over the past few w ...[详细] -
Beyoncé and Solange's mom slayed two of her daughters' iconic looks
When both of your daughters scored #1 albums in the same year, it's a good idea to take a second to ...[详细] -
Where to buy PlayStation Portal: Restocks live at Best Buy, PlayStation Direct
UPDATE: Apr. 26, 2024, 4:40 p.m. EDT We've updated this story after confirming that next week's Earl ...[详细] -
Understanding Relational vs. Non
Relational databases and non-relational databases primarily differ in the types of data they store a ...[详细] -
Amy Schumer: people who don't vote are "steamy dumps"
Every four years, millions of people choose not to vote, whether because they couldn't decide on a c ...[详细]
- How much for Oasis tickets? Fans joke about splurging on reunion shows
- S. Korean, US first ladies to hold one
- Rooney will have point to prove against Manchester United: Solskjaer
- 以药兴农,行业大咖共论广东农垦南药产业向新之道
- 21 Lost and Lonely Cemeteries
- Woman goes into labor and still takes time to vote before giving birth
- Here are the best ways to support Hillary online without getting trashed