The government will increase the autonomy in operations and personnel management at 42 public companies and quasi-government organizations as part of reforms to enhance their accountability and operational efficiency.

Such revisions were included in measures adopted on Thursday during a meeting of a steering committee for public institutions led by second vice finance minister Choi Sang-dae.

The finance ministry will reduce the number of public companies and agencies subject to its oversight by around 32 percent, easing the classification standard concerning the number of employees, total revenue and assets.

Instead of the finance ministry, the ministries related to the organization will take over its management, conduct assessments and autonomously appoint executive members.

The affected institutions include Busan Port Authority, Incheon Port Authority, the Teachers' Pension, the Korea Press Foundation and the Korea Creative Content Agency.

The government plans to complete relevant ordinance and guideline revisions during the second half of the year.