Click the report cover (above) to get the full report.
Korea¡¯s SOE Reforms Offer Lessons for the World
As more countries pursue ambitious reforms of state-owned enterprises (SOEs), Korea¡¯s experience offers a valuable reference point. A using the ÐÓ°ÉÂÛ̳'s iSOEF methodology¡ªthe first conducted with a Financial Management Umbrella Program (FMUP) partner and the first in a high-income country¡ªprovides practical insights into what effective SOE reform can look like.
Why Korea? The country¡¯s transformation from aid recipient to donor is among the most widely cited development success stories. Behind that successful transition lies a robust SOE system characterized by centralized oversight, performance-based management, and strong fiscal discipline. The iSOEF assessment shows how these features enabled Korea to manage its vast SOE portfolio across sectors such as infrastructure, energy, and housing.
The report highlights the importance of linking SOE performance with budget planning, leveraging digital tools like the All Public Information In-One (ALIO) platform to enhance transparency, and maintaining reform momentum through political transitions. Korea¡¯s structured, sequenced reforms and its emphasis on stakeholder engagement have helped build a system that is both resilient and responsive.
This joint assessment marks a new chapter in global SOE learning. With Korea joining FMUP as a partner, opportunities for knowledge exchanging¡ªincluding study visits and a planned Global SOE Conference¡ªare expanding, offering practitioners a closer look at one of the most mature SOE systems.