Seoul: A total of 13 out of 87 state-run institutions were rated as "insufficient" or lower in their annual management assessment due to underperformance in core business areas and weak managerial oversight, the Ministry of Economy and Finance said Friday.

According to Yonhap News Agency, the ministry's comprehensive performance evaluation of public enterprises and quasi-governmental agencies, which classifies institutions into six tiers, showed that 13 organizations were graded as "insufficient," the second-lowest rating, or below in the 2024 assessment. Among them, four were given the lowest possible rating of "extremely insufficient."

The results indicate a slight decline compared to the previous year, when 12 institutions were rated "insufficient" and two received the "extremely insufficient" rating. The ministry noted that for institutions graded "insufficient" or lower for two consecutive years, it will recommend the dismissal of their heads in accordance with current guidelines.

In contrast, 15 institutions were rated "satisfactory," the second-highest rating, followed by 31 receiving an "average" grade. No institutions earned the top rating of "excellent" last year, the ministry added.