Korea to Award Officials Up to $20,000 for SME Policy Results

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By Ryu Seok
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Small business policy achievement public servants awarded up to 30 million won - Seoul Economic Daily Finance News from South Korea
Small business policy achievement public servants awarded up to 30 million won

The Korean government will award civil servants up to 30 million won ($20,000) for achieving significant results in small and medium-sized enterprise support policies. The initiative aims to spread a performance-driven culture within the public sector and strengthen policy outcomes that SMEs and citizens can tangibly experience.

The Ministry of SMEs and Startups announced on the 11th that it will operate a "Special Performance Award System for Civil Servants." The program is based on the special performance award system introduced through revisions to the "Regulations on the Operation and Innovation of Administrative Affairs."

The ministry plans to operate the system under three principles: "exceptional rewards," "selection by the public," and "transparent disclosure." As the first among government ministries, it will adopt a "public audition" format, ensuring that outcomes experienced by citizens and SMEs directly determine the final rankings.

The process consists of three stages: nomination of civil servants and projects by individuals, colleagues, or organizations; selection of up to six candidates through public verification, evaluation by private-sector experts, and satisfaction surveys of policy beneficiaries; and a public audition where final rankings and prize amounts will be determined.

The ministry has notified internal departments and major associations of the plan and began accepting applications from the 11th. The "First Special Performance Award Public Audition" will be held in early April. Citizens wishing to participate in on-site evaluations of policy beneficiaries or online public assessments can apply through the ministry's website and Sotong24.

"This system is not merely an internal award. It institutionalizes a structure where policy beneficiaries directly evaluate the practical effects of SME policies, the public openly verifies them, and civil servants explain policy outcomes to citizens," said Kim Woo-jung, Director General of Planning and Coordination at the Ministry of SMEs and Startups. "We plan to continue developing and establishing new models that allow citizens and SMEs to directly participate in the policy evaluation process."

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.