By Na Jeong-ju
The Ministry of Strategy and Finance reported to President Park Geun-hye a plan to remove favoritism in senior appointments to state firms.
To that end, the ministry said that it will address the issue of "parachute" CEOs at public firms, saying this malpractices has damaged their competitiveness.
It plans to disqualify those with no proven track record in related businesses from CEO or auditor positions at state-run organizations
It also plans to reduce their debts by selling their assets, cutting benefits for employees, and giving up unprofitable businesses.
According to Rep. Chang Ha-na of the main opposition Democratic Party, some 58 out of 180 people named as CEOs to state firms between 2008 and 2012 had close ties to Lee Myung-bak. The parachuted executives have been cited as one of the main reasons for the snowballing debt at public firms.
The ministry plans to unveil a three-year "economic innovation" roadmap, Tuesday, which will focus on boosting the country's growth potential and revitalizing the private sector.
In a New Year's address, President Park pledged that the country's per capita income will reach $40,000 and the employment rate will rise to 70 percent by 2017, if the three-year plan is successfully implemented.
The roadmap will include detailed measures to achieve these goals, the ministry said.
The Ministry of Strategy and Finance reported to President Park Geun-hye a plan to remove favoritism in senior appointments to state firms.
To that end, the ministry said that it will address the issue of "parachute" CEOs at public firms, saying this malpractices has damaged their competitiveness.
It plans to disqualify those with no proven track record in related businesses from CEO or auditor positions at state-run organizations
It also plans to reduce their debts by selling their assets, cutting benefits for employees, and giving up unprofitable businesses.
According to Rep. Chang Ha-na of the main opposition Democratic Party, some 58 out of 180 people named as CEOs to state firms between 2008 and 2012 had close ties to Lee Myung-bak. The parachuted executives have been cited as one of the main reasons for the snowballing debt at public firms.
The ministry plans to unveil a three-year "economic innovation" roadmap, Tuesday, which will focus on boosting the country's growth potential and revitalizing the private sector.
In a New Year's address, President Park pledged that the country's per capita income will reach $40,000 and the employment rate will rise to 70 percent by 2017, if the three-year plan is successfully implemented.
The roadmap will include detailed measures to achieve these goals, the ministry said.
![[INTERVIEW] Can art become stable investment source?](https://img.koreatimes.co.kr/upload/thumbnailV2/d9b4b117e5b74f4c931de724ebd2ee68.jpg/dims/resize/178/optimize)
![[INTERVIEW] Choi Min-sik, Lee Dong-hwi on creating Korean-style noir with 'Big Bet'](https://img.koreatimes.co.kr/upload/thumbnailV2/8b795a8f6b42492db4e8fdc47e9abd8d.jpg/dims/resize/178/optimize)
![[INTERVIEW] Ahn Jae-hong on playing underdog basketball coach in 'Rebound'](https://img.koreatimes.co.kr/upload/thumbnailV2/fe381342632c46bfa6d3245cb475676e.jpg/dims/resize/178/optimize)
