Governance, Performance, and the Best Reform Practices in State-Owned Enterprises in Latin America and the Caribbean and Korea: Forum Report and Proceedings from the International Symposium held November 5-8, 2013, in Seoul, Korea
Inter-American Development Bank (IDB)
Over the last decade, several countries in the Latin American and the Caribbean region have strengthened the management of their state-owned enterprises (SOEs) through a process of reforms. SOEs are productive businesses typically directed by national governments because they have monopolistic tendencies and work in sectors such as energy, transportation, or telecommunications. These industries provide vital services to citizens of their countries. The objective of the recent reforms was to increase their contribution to their local economy by improving performance, increasing transparency of operations, and expanding accountability to citizens. In this context, the Republic of Korea's Ministry of Strategy and Finance and the Inter-American Development Bank (IDB) organized several international forums to discuss the policies and reforms of SOEs. The first was celebrated at IDB headquarters in Washington, DC, and the second in Lima, Peru, in December 2012. A third event was hosted by the Republic of Korea in November 2013 to discuss management issues. This document reports the proceedings of that event.