The state property management system is legally based on the State Property Act, which defines that state property means property owned by the state under the provision of acts and treaties, or property formulated by the state expenses or con-tributed acceptance. Current state property amounts to 296.82 trillion won as of late 2009, in which the present value of state land that is closely related with citizen’s living, and has diverse functions is 108.99 trillion won (36.7 percent of state prop-erty).

    Although central government has continuously sought for institutional im-provements with the acknowledgement of importance of state property manage-ment, they are far from meeting the expectation level. The reason is that the central government is not indulged in implementation and performance management of established improvement plans.

    Even though the central government established Improvement Measures of State Property Management System in June 2010, they were almost similar to Re-newing the State Property Management in 2007. Moreover the National Assembly has pointed out problems of inefficient management of state property management. Therefore, this report evaluated 2007 management plans of state property. Main evaluation outcomes are as follow.

    Firstly, comprehensive survey of total number of state property has not contrib-uted to the positive and effective management of state property. Secondly, contro-versy over equity has arisen because there is an enormous gap in the amount of collected compensation between local governments and Korea Asset Management Corporation (KAMCO). Thirdly, no post-evaluation has been done even though 9 consignment developments were carried out.

    This report contains several improvement measures including the legislation of mid-term and log-term state property management operation plan.