Finance Minister Yoo Il-ho stressed on Thursday that introducing a performance-based salary system is the start for improving the fundamentals of public agencies.
 
Chairing a meeting on operating public organizations, Yoo said public agencies must be revamped in a way that rewards will be given in line with performance results instead of seniority.
 
Yoo cited that the productivity of public organizations amounts to between 70 and 80 percent of private companies due to lack of internal competition.
 
He said work motivation could be inspired if the performance-based pay system is expanded to include employees who are not executives.
 
Yoo said the government will actively collect the opinions of labor and management to implement the system so that a well-customized scheme that fits the characteristics of public agencies will be designed.