A total of 387 retired central government officials landed cushy jobs in state-run companies over the last five years, according to a lawmaker on Tuesday.
Saenuri Party Rep. Kang Gi-yun, who heads a budget oversight committee in the National Assembly, said between 2008 and May this year the Ministry for Food, Agriculture, Forestry and Fisheries accounted for the largest number of former officials landing jobs in state-run companies with 83, followed by the Knowledge Economy Ministry (61), the Ministry of Education, Science and Technology (48) and the Ministry of Land, Transport and Maritime Affairs (44).
The average retirement age of the officials was 55, while their average salaries in the new jobs was a cool W170 million a year (US$1=W1,149). Former officials from the Ministry of Strategy and Finance made the most money in their new jobs with W230 million, followed by ex-Knowledge Economy Ministry officials (W135 million), former Land and Transport Ministry officials (W120 million) and retired Health Ministry officials (W103 million).
Ex-officials from the finance and knowledge economy ministries accounted for 87 percent of those earning six-figure annual salaries in their new jobs in state-run firms.
"There were many instances when retired public servants landed jobs that were had nothing to do with their previous field of work," Kang said.