LH, Prioritizing Innovation in Organization and Personnel Management as Top Task

On the 23rd, the 4th LH Innovation Committee Meeting Held to Review Progress on Innovation Tasks
High-Intensity Organizational and Personnel Innovation Promoted to Prevent Real Estate Speculation Recurrence
Innovation Committee Advisory Opinions Reflected to Develop Innovation Measures Meeting Public Expectations

Kim Hyun-jun, President of LH (right in the photo), emphasized the thorough implementation of the government's LH innovation plan at the '4th LH Innovation Committee' held on the 23rd. / Photo by LH.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) will prioritize implementing strong organizational and personnel reforms to prevent the recurrence of real estate speculation and to faithfully fulfill its core roles.

On the 23rd, LH held the "4th LH Innovation Committee" at the Seoul Regional Headquarters, attended by President Kim Hyun-joon and Chairman Kim Jun-gi, where this was announced.

At the meeting, the progress and future plans for the organizational and personnel reform tasks among the 67 innovation tasks included in the "LH Innovation Plan" announced by the government on the 7th of last month were reviewed.

LH plans to establish strong internal and external control measures to eradicate illegal speculation through ▲restricting promotions to senior positions for real estate speculators and excessive holders, ▲strong personnel actions against illegal speculation and suspicious activities, and ▲designation of audit positions as specialized roles and introduction of open positions.

Additionally, LH will significantly expand the scope of employment restrictions for related public institutions (from standing directors to 529 employees at grade 2 or higher) and strengthen disciplinary actions for violations of the prohibition on profit-making activities and concurrent positions (up to dismissal), to eradicate preferential treatment for former officials and improper concurrent employment, thereby firmly establishing a clean and transparent public service ethics.

Alongside measures to prevent the recurrence of real estate speculation, organizational innovation will also be pursued to faithfully perform core functions such as the 3rd New Town development, the 2.4 Plan, and housing welfare.

Furthermore, LH plans to prepare separation measures for non-core and overlapping functions such as ▲new town site investigation tasks, ▲tasks overlapping with other agencies, ▲tasks that can be performed by the private sector or local governments, and ▲tasks unrelated to the establishment purpose, and will promote close cooperation with government ministries and related agencies.

President Kim said, "To restore public trust and quickly stabilize the organization, we will actively consult with government ministries and communicate with labor unions to faithfully implement the government's LH innovation plan," adding, "We will continue our self-purification efforts centered on the LH Innovation Committee to completely transform into a clean and transparent organization."