[Asia Economy Reporter Ryu Tae-min] The resignation of Son Byung-seok, President of Korea Railroad Corporation (KORAIL), who expressed his intention to step down due to poor management performance, has been accepted.
According to the Ministry of Land, Infrastructure and Transport and KORAIL on the 16th, the Blue House notified Son of his dismissal. Son announced his resignation on the 2nd to take responsibility for the poor performance in management control revealed in last year's public institution management evaluation and the accumulating deficits in the management situation. Although KORAIL received a mid-level C grade in the recently announced public enterprise management evaluation, it received the lowest grade E in the management control category.
Son's original term was until March next year, but with his stepping down from the presidency, KORAIL is expected to form an executive recommendation committee and begin the recruitment process starting next week.
Meanwhile, SR, which operates the Suseo High-Speed Railway (SRT), announced a recruitment notice on the 12th to select the next president. The current SR President Kwon Tae-myung's term ends on the 3rd of next month. With the heads of the two high-speed rail operating organizations coincidentally being replaced around the same time, attention is focused on the appointment of their successors.
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