공기업의 지배구조와 기업금융

Korea has a number of government-owned enterprises (“GOE”) for diverse reasons – market failure, targeting specific industries, employment and price control policy tools, foster of local autonomy, etc. In order to strike the right balance between economic efficiency and public service, Law on Management of Public Instruments and Local Public Corporation Law have been implemented. However, the corporate governance and finance have much room for improvements. I propose: independent boards; establishment of evaluation criteria for boards; and upgrade of transparency for local public corporations. Ultimate policy goals should be privatization of most of GOEs by an independent agency.