"Gwangju Collapse Accident Deeply Apologized with Bowed Head"
Jung Mong-gyu, chairman of HDC Group, who has faced public criticism for a series of major collapse accidents in Gwangju, is making a public apology and announcing his position regarding his future at the HDC Hyundai Development Company Yongsan headquarters in Seoul on the 17th, concerning the exterior wall collapse accident at Hwajeong I-Park in Seo-gu, Gwangju. Photo by Kang Jin-hyung aymsdream@
Jung Mong-gyu, chairman of HDC Group, is resigning from his position as chairman of HDC Hyundai Development Company, taking responsibility for the series of construction site collapse accidents.
On the morning of the 17th, Chairman Jung held a press conference at the Yongsan headquarters in Seoul and said, "I deeply bow my head and sincerely apologize to the families of the victims of the Gwangju accident and the public," adding, "I will step down from the position of chairman of HDC Hyundai Development Company."
The decision by Chairman Jung to step down from HDC Hyundai Development Company comes after public opinion worsened drastically due to a series of major accidents, including the Gwangju Hakdong redevelopment area disaster in June last year and the collapse of the exterior wall of the newly constructed I-Park in Hwajeong-dong, Gwangju Metropolitan City, on the 11th of this month, just seven months later.
As a result of this accident, contract termination notices have been continuously issued at Hyundai Development Company's project sites, and there are even movements to phase out the I-Park brand, marking the greatest crisis since the company's founding.
He said, "I moved from Hyundai Motor Company to Hyundai Development Company in 1999 and have worked for 23 years to develop the company and maintain the trust of the public, but this accident has wiped out all those efforts in an instant."
However, Chairman Jung indicated his intention to retain his position as CEO and chairman of the holding company HDC by stating, "I will fulfill the responsibilities of the major shareholder."
He added, "At this stage, restoring the trust of customers and stakeholders is the top priority," and said, "I will carefully consider and inform you of the role I will play in relation to Hyundai Development Company in the future."
Chung Mong-gyu, chairman of HDC Group, who has faced public criticism for a series of major collapse accidents in Gwangju, is seen leaving after delivering a public apology and a statement regarding his position on the collapse accident of the outer wall of Hwajeong I-Park in Seo-gu, Gwangju, at the HDC Hyundai Development Company Yongsan office building in Seoul on the 17th. Photo by Kang Jin-hyung aymsdream@
Furthermore, regarding the Gwangju accident site, Chairman Jung said, "We are keeping open the possibility of complete demolition or reconstruction of the apartment." Regarding the countermeasures at the Hwajeong I-Park site, he explained, "If safety inspections reveal problems, we will consider contract termination with the buyers as well as complete demolition and reconstruction," adding, "We will create a good apartment that can become a landmark."
He bowed his head and said, "Hyundai Development Company started in 1976 with the construction of Hyundai Apartments in Apgujeong-dong and grew through the I-Park brand with the trust of the public, but recently, the two accidents in Gwangju have caused great disappointment," adding, "Not only the safety of the apartments but also the company's trust has fallen to the ground, and I am at a loss for words."
He continued, "We will establish and implement all measures to regain the trust of customers and the public once again. We are working with government agencies to manage safety and are conducting rescue operations, and we will continue to make every effort to quickly rescue the missing persons."
Chairman Jung said, "We will do our best to compensate the victims' families for the damages caused by this accident and to ensure that there is no harm to prospective residents and stakeholders," adding, "To ensure that residents can live in peace for their entire lives, we will significantly strengthen safety and quality guarantees by extending the structural safety guarantee period for all frameworks of Hyundai Development Company to 30 years." Currently, the legal guarantee period is 10 years, so this will be tripled.
Chairman Jung said, "We will conduct safety inspections of construction sites by external organizations and thoroughly check safety and quality conditions to eliminate concerns and distrust," adding, "Taking this accident as an opportunity, Hyundai Development Company will be reborn as a completely new company with a transformative attitude."
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