Standing Director System Reborn

Home > Business > Economy

print dictionary print

Standing Director System Reborn

The government is in the process of reviving the system that guarantees the length of service of directors of government institutions and affiliations. By granting firm periods of service, the government reasons there will be more accountability and a coherent policy direction which should mitigate cases of management failure.
The government currently changed its regulations on the control of state-owned corporations, allowing chairmen and boards of trustees guaranteed three-year contracts.
The Korea Housing Corporation and Korea Water Resource Corporation recently changed its board members as a result of the new regulations.
However, critics point out that as ministries will be in charge of the appointments, board members and the heads of the corporations may actually lose accountability and any measure of independence they possess.

More in Economy

Monster supplementary budget passed

Online shoppers flock to food deliveries, home decor

All eyes on Eunma apartments as regulations in flux

Geta on other foot, olive branch extended to Japan

Deflation bullet dodged by rounding up to 0

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now