Vol. 20 Financial Settlement Status and Fiscal Soundness Analysis of Public Institutions in Fiscal Year 2019 (English Edition)
June 24, 2020 Vol.20
Overview of fiscal settlement status of public institutions in fiscal year 2019
* The Ministry of Strategy and Finance discloses the financial settlement results of 340 public institutions in~ the fiscal year 2019 1) (June 29, 2020).
- The Ministry of Economy and Finance announced that the total assets and total liabilities of public institutions in fiscal year 2019 were KRW 861.1 trillion and KRW 525.1 trillion respectively. Compared with the figures in 2018, assets have increased by KRW 32.8 trillion and liabilities by KRW 21.4 trillion.
• According to the Ministry of Economy and Finance, this increase in public institutions' assets and liabilities is mainly due to increased investment in power generation facilities of Korea Electric Power Corporation and its subsidiaries, increase in loans by Korea Housing Finance Corporation, construction of rental assets by Korea Land and Housing Corporation, and investment in highway construction by Korea Expressway Corporation.
- Since 2016, net income has been continuously decreasing, reaching KRW 0.6 trillion in 2019.
• Korea Electric Power Corporation recorded a net loss of △KRW 1.2 trillion in 2018 and △KRW 2.3 trillion in 2019. Meanwhile, the National Health Insurance Service recorded △KRW 3.9 trillion trillion and △KRW 3.6 trillion in net losses in 2018 and 2019, respectively.