Public Institutions of the Republic of Korea 2024

Published on May 30, 2024
Published by Public Institution Evluation Division, Budget Analysis Department

   The income and expenditure of all public institutions designated in 2024 amounted to 918.2817 trillion won, based on the 2023 budget, highlighting the significant role of public institutions in the national economy. With public institutions actively involved in major government projects, understanding their respective operation is increasingly crucial.
   Accordingly, this report was crafted to offer a thorough comprehension of the present state of public institutions in Korea, rooted in an analysis of their operational and financial standings.
   Part 1 introduces systems related to public institutions, including their significance, historical background, management policies, and relevant laws and guidelines. In Part 2, the overall status of public institutions is analyzed, covering aspects such as income and expenditure, manpower, labor and welfare costs, ESG considerations, fiscal status, mid-to-long-term financial management plans, debt levels, management evaluations, and local relocation status. Part 3 categorizes public institutions, including government-invested institutions, balance-of-funds gap preservation institutions, loss compensation institutions, and public financial institutions, according to their main characteristics. This year, notably, Part 4 was introduced to organize and present status information on major public institutions by committee.