GKL bottom of the class in government review

Grand Korea Leisure came out with the lowest possible rating in an annual government evaluation of management performance, local media reported.

The casino operator tied for bottom place with the Korea Coal Corporation, according to the review, which was released earlier this week.

The review covered 128 public institutions and 35 companies. A key focus in the evaluation was ethical practices and contribution to employment growth.

The evaluation is important because it determines the size of incentives, such as bonuses, and next year’s budget for the institutions.

The number of institutions with high marks fell largely because of unfair hiring practices, including one high-profile case at the state-owned casino, Kangwon Land, the Ministry of Strategy and Finance said.

Institutions that received the top A grade in last year’s evaluation accounted for 13.4 percent, while this year, they account for 10.6 percent. Those that received the second-highest B grade fell from 40.3 percent to 35.8 percent. But the portion of institutions that received the lowest E grade rose from 3.4 percent to 6.9 percent.