Twenty public companies and state-run agencies were listed at the top of the government-led annual management assessment for their efforts to improve balance sheets, the finance ministry said Thursday.

Out of the 116 institutions subject to the test, the number of A-grade institutions rose from 15 tallied a year earlier, followed by 53 B-grade companies and 30 C-grade, according to the Ministry of Strategy and Finance.


The 20 best companies include the Incheon International Airport Corp., Korea Electric Power Corp., National Health Insurance Service and National Pension Service.

At the same time, four companies -- the Korea Resources Corp., Korea National Oil Corp., Korea International Broadcasting Foundation and Korea Infrastructure Safety and Technology Corp. -- were graded E, the lowest mark.

The South Korean government carries out the management evaluation test every year to check public firms' financial status, as well as the implementation of government requirements like the wage peak system.

Based on the results, the institutions with grades of A, B, and C will be given special bonuses, with the heads of the lower-graded companies to receive a warning, said the ministry.

The 116 public operations posted a combined net profit of 12.5 trillion won last year, up from 11.3 trillion won a year earlier.

Their debt fell to 490.5 trillion won from 507.2 trillion won over the cited period, with their debt ratio reaching 191 percent from 212 percent. (Yonhap)