"Complete Transformation to Regain Trust"… Launch of LH Innovation Committee

"Bone-Cutting Effort, Radical Transformation Through Self-Reflection"
Professor Kim Jun-gi of Seoul National University Appointed as Chairman

Kim Hyun-jun, President of LH (fourth from the left), Park Gae-seong, CEO of Elio & Company and member of the LH Innovation Committee, Professor Yoon Hye-sun of Hanyang University, Professor Kwak Chae-gi of Dongguk University, Professor Kim Jun-gi of Seoul National University, Park Su-jeong, Secretary General of the Administrative Reform Citizens' Coalition, Professor Won Jong-pil of Konkuk University, and Labor Attorney Yeo Sang-cheol of Kim & Chang Law Office (from the left) are posing for a commemorative photo at the Innovation Committee inauguration ceremony on the 7th. (Photo by LH)

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH), which faced national criticism over employees' speculation on new town land, launched the ‘LH Innovation Committee (hereinafter Innovation Committee)’ on the 7th to oversee innovation across all management and business areas. This reflects the determination to restore public trust through painful efforts even before the government’s LH reform plan is announced.

LH announced that it launched the Innovation Committee and held an appointment ceremony on the same day to promote sustainable innovation based on public communication and participation.

The establishment of the Innovation Committee is one of the key tasks of LH President Kim Hyun-joon, who took office on the 26th of last month. In his inaugural speech, President Kim apologized for LH employees’ real estate speculation and stated, "We will undergo a thorough self-reflection and transformation to ensure that such regrettable incidents never happen again."

The Innovation Committee consists of eight external experts with a deep understanding of the public sector, including academia, civic groups, and labor sectors, as well as internal members. Professor Kim Jun-ki of Seoul National University’s Graduate School of Public Administration was appointed as the chairman. Serving as the president of the Korean Public Enterprise Association, Chairman Kim is known for his profound understanding of public policy and innovation, as well as his balanced perspective on administration and policy.

The first meeting of the Innovation Committee was held with three agenda items prepared by LH itself: △Measures to prevent recurrence of speculation △Management innovation plans △Fostering a culture of integrity. First, LH restricted employees’ acquisition of new real estate to fundamentally block speculation and established a system for registering and reporting real estate holdings of executives and employees.

Additionally, to restore public trust, LH set management innovation plans focusing on strengthening internal controls and organizational and personnel reforms. To eradicate suspicions of preferential treatment for former officials, LH plans to improve design competition evaluations and material selection systems, and will also launch an integrity protection campaign from headquarters to local field offices nationwide.

The Innovation Committee will hold meetings at least once a month to discuss various reform-related agenda items. To collect public suggestions, an ‘Innovation Participation Forum’ will be opened on the LH website. When the government’s innovation plan is announced later this month, detailed implementation plans and progress will be established and reviewed through the Innovation Committee.

At the appointment ceremony, President Kim emphasized, "To restore the public’s lost trust, it is essential to return to the original intention and listen to the voices of the people first." He added, "While steadfastly implementing government real estate policies such as the 2·4 measures, LH will pursue effective innovation to faithfully fulfill its fundamental functions."