Presidents of Publicly-Owned Companies to Be Judged On Performance

The Planning and Budget Commission(PBC) is planning to request presidents of public companies to resign if their performance levels are deemed substandard.
Accordingly, the presidents of three or four government-owned companies will be likely changed within the next month.
PBC intends to ask President Kim Dae Jung to dismiss certain presidents from among 19 public companies according to their operating records last year.
A source at the PBC said, 'The PBC has already ended its investigation of public companies, so, accordingly, the government will conclude the matter by the end of next month.'
In related news, the government will organize a committee for nominating a new president of the Korea Trade and Investment Promotion Association (KOTRA). The current president's tenure will expire at the end of this month and the election of a new KOTRA president must be concluded at that time.