A public organization voluntarily cut the annual salaries of its top executives by 30 percent after the government vowed to strictly monitor lax management of public organizations, the Labor Ministry said Wednesday.

The Construction Workers Mutual Aid Association, under the wing of the Ministry of Employment and Labor, said it has decided to cut next year’s annual salaries of its top executives by an average of 30.1 percent and lower-level executives by an average of 10 percent, the ministry said.

The decision was voluntarily made as part of efforts to reform itself as lax management and growing debt problems of public organizations has recently come under fire.

They have been criticized for offering what many see as excessive bonuses and benefits to their employees despite their fast-growing debts and toughening business conditions. (Yonhap News)