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High Officers of MFE Move into Sub-institutions

Posted September. 15, 2002 23:00,   

한국어

The traditional practice that resigned public officers of Ministry of Finance and Economy (MFE) are placed to main position of financial institutions controlled by MFE remains unchanged.

At 15th, according to the report submitted to Chung Eui-wha (Hannara Party),a parliament member of the Committee of Finance and Economy, 72.3% of 62 resigned public officers of secretarial level from MFE has been employed for financial institutions under the present government from 1998 to September of 2002.

According to the level, ▽11 of 12 administrator level (1st grade) ▽14 of 17 director level (2nd grade) ▽11 of 11 vice-director level (3rd grade) (100%) ▽ 9 of 22 secretary level (4th grade) (41.0%). 90% of upper levels of vice-director level began to work for financial institution.

Particularly, 36 of 40 (90%) of upper levels of vice-director level except 4 are working for Industrial Bank, Export & Import Bank of Korea, Korea Credit Guarantee Fund, etc. The four resigned are working for law companies, accountant companies and tax companies. So all of resigned succeeded re-employment.

In case of secretary level, many of them transferred to private companies such as Samsung Electronics, LG Electronics, Samsung Security, SK, or IT companies as CEO or director positions rather than to financial institutions.

An authorized person of the government commented, “The transferring of elite economic public officers to financial institutions should not be analyzed as parachute appointment of person lacked of professional knowledge in politic society.

However, a person of financial institutions controlled by the government criticized, “The policy of MFE is accomplished by the persons of parachute appointment, and the internal promotional opportunity to CEO is blocked by them. So the staffs are very discouraged.”



Kwang-Hyun Kim Jeong-Hun Park kkh@donga.com sunshade@donga.com