HDC Hyundai Development 'Emergency Safety Committee' Established... Managing Gwangju Accident and Compensation

HDC Group Chairman Chung Mong-gyu, who has faced public backlash for a series of major collapse accidents in Gwangju, entered the press conference room on the 17th at the HDC Hyundai Development Company Yongsan headquarters in Seoul to deliver a public apology regarding the exterior wall collapse accident at Hwajeong I-Park in Seo-gu, Gwangju, and to announce his position on his future. Photo by Kang Jin-hyung aymsdream@

On the 20th, HDC Hyundai Development Company announced the establishment of an 'Emergency Safety Committee' to ensure the safe and prompt resolution of the Gwangju Hwajeong I-Park exterior wall collapse accident and to compensate the affected residents and others.

The Emergency Safety Committee will be operated mainly by former presidents of Hyundai Development Company, with Chairman Lee Bang-ju of JR Investment Management, who previously served as president of Hyundai Motor Company and vice chairman of Hyundai Development Company, appointed as the chairman.

Going forward, the Emergency Safety Committee plans to work closely with related organizations such as Gwangju City to thoroughly manage the accident response, and establish a separate compensation organization composed of experts to ensure sufficient compensation for the victims.

Additionally, the company explained that the committee will take on roles such as introducing the position of Chief Safety Officer (CSO) to build a construction safety system and formulating safety innovation measures including the renewal of management.

Hyundai Development Company also decided to form a 'Construction Monitoring Team' as soon as possible.

The Construction Monitoring Team, composed mainly of external experts, will continuously monitor the appropriateness and safety of construction at all Hyundai Development Company construction sites.