Realizing Quality Housing Supply 'Gwangju-type Residential Welfare'
Overseas Market Development... 'Glocal' Public Enterprises Expanding Globally
Establishing Future Growth Engines Through Innovative Business System Reform

■ Kim Seung-nam, President of Gwangju Urban Corporation

Kim Seung-nam, President of Gwangju Urban Corporation, is explaining the current status of project implementation and future directions for the corporation's operations. Photo by Kim Wan-jung

Kim Seung-nam, the 12th president of Gwangju Urban Corporation, took office on the 10th of last month. In his inaugural speech, President Kim expressed his ambition, stating, “Based on the experience I have accumulated so far, I will devote all my capabilities to leading communication and collaboration between government ministries, Gwangju City, and the Urban Corporation to resolve various local issues, present a vision, and contribute to sustainable urban development.” He particularly emphasized the successful promotion of large-scale projects such as the Advanced 3 District in the Research and Development Special Zone, Energy Valley, Urban High-tech Industrial Complex, AI-centered Industrial Convergence Cluster, and spatial architecture. He also presented a vision to lead regional development by fostering the corporation’s continuous growth through innovative business system reforms and future growth engine establishment, including the creation of a ‘Korean-style AI Valley.’

We met with Kim Seung-nam, president of Gwangju Urban Corporation, to hear about the current status of project implementation, new business plans for profitability improvement, and the future direction and ambitions for the corporation’s operation.

- Congratulations on your inauguration. How do you feel?

▲ I am very honored to take on the role of president of the Urban Corporation leading the development of the Gwangju region, based on the experience and capabilities accumulated through my activities as a two-term member of the National Assembly. At the same time, as the head of a representative public enterprise of Gwangju City, I feel a heavy sense of responsibility and calling to realize regional development and improve citizens’ welfare. As president of the Urban Corporation, I will devote all my capabilities to actively leading communication and collaboration with government ministries and Gwangju City to contribute not only to the corporation’s growth but also to sustainable urban development.

- Being a two-term National Assembly member has advantages, but some point out a lack of expertise. How do you plan to leverage your strengths and compensate for weaknesses?

▲ People often think that National Assembly members focus only on the work related to their standing committees, but I have always taken an interest in the overall state affairs, identified problems, and prepared alternatives through legislation. Over eight years of legislative activity, I participated in dozens of sector-specific forums related to social issues daily and enhanced my understanding of national affairs through constant communication with expert groups. Therefore, I believe that the expertise gap can be overcome through communication with internal and external experts. In fact, the ability to gather and sometimes integrate diverse expert opinions might be a more important CEO quality.

As a two-term National Assembly member, I have experienced ‘communication and management capabilities,’ essential elements for promoting large-scale projects of the Urban Corporation, by utilizing my broad understanding of national affairs and personal network. I believe that managing the Urban Corporation requires the ability to coordinate various stakeholders’ interests and manage large budgets as a top executive. During my tenure as a National Assembly member (19th and 21st sessions), I gained experience in adjusting conflicting interests through regular and ongoing communication. I will fully utilize this experience to accelerate projects fostering Gwangju’s core industries linked to advanced future industries such as future mobility, AI, and bio.

Kim Seung-nam, President of Gwangju Urban Corporation, is explaining the new business plans he is considering to improve profitability, including the corporation's overseas expansion. Photo by Kim Wan-jung

- Gwangju Urban Corporation is promoting many large-scale projects. What projects are there, and how do you plan to proceed?

▲ Our corporation is undertaking innovative and large projects such as urban development projects including the Advanced 3 District, Medical Specialized Industrial Complex, Future Car National Industrial Complex, and Eodeungsan Tourism Complex, as well as housing construction projects like public rental housing and social housing. First, I consider risk management and continuous monitoring crucial to ensuring the smooth execution of large-scale projects currently underway, such as the Advanced 3 District.

First, we will realize a new economic city, Gwangju, by ‘building future growth engines through innovative business system reforms including new businesses.’ By successfully promoting the Advanced 3 District and Medical Specialized Industrial Complex, we will create a foundation for job creation within the region, and by advancing the Future Car National Industrial Complex, we will establish a mobility triangular belt connecting Jingok, Bitgreen, and Future Car. Additionally, by promoting the Eodeungsan Tourism Complex and Ecological Cultural Village projects, we will build a tourism hub in the southwest region, realizing ‘Gwangju, the fun city’ that people want to visit repeatedly. Furthermore, to actively respond to government and Gwangju City policies, we plan to complete Phase 1 of the AI cluster by the first half of next year and create a ‘Korean-style AI Valley’ in Gwangju through Phase 2.

Second, we will realize Gwangju-style housing welfare through ‘customized housing supply and advancement of residential welfare services.’ Along with the completion of integrated public rental housing in the Sangmu district, we will supply high-quality public rental housing that meets demand expectations by utilizing rental housing sites in the Advanced 3 District for medium-sized or larger units. We will also supply social housing for youth and childcare families and stabilize housing for socially vulnerable groups such as non-housing residents and youth preparing for independence through residential welfare centers. Moreover, we will establish a virtuous cycle structure by discovering new future food service businesses, securing investment capacity, and reinvesting in citizen welfare projects. We plan to enter the renewable energy market such as solar and wind power and actively consider rental-only and RE100 industrial complexes. We will also actively engage in pioneering overseas markets for development and housing projects.

- Regarding the Eodeungsan Starfield development project in partnership with Shinsegae Property, the project seems to be progressing slowly. What is the current status and future schedule?

▲ In December last year, Gwangju City and the Urban Corporation selected Shinsegae Property, the operator of Starfield, to develop the amusement park, achieving the normalization of the Eodeungsan Tourism Complex, which had been stalled for 19 years. As a follow-up, our corporation signed a land sales contract worth 86 billion KRW and has paid a deposit of 8.6 billion KRW and the first interim payment of 7.74 billion KRW. Additionally, Shinsegae Property submitted a performance guarantee of 11.6 billion KRW for the first phase of the agreement to ensure project execution and established a local corporation to contribute to tax revenue increase and job creation.

Currently, preparations for permits and approvals for the development plan are underway, including the commencement of the master plan and design services. According to the agreement, once the tourism complex development plan change approval is obtained, construction will begin in earnest in the second half of 2026. The Starfield Gwangju shopping mall and condos are scheduled for completion in 2030, and residences and ancillary facilities by 2033, ensuring the final completion of the Eodeungsan Tourism Complex. As the procedures for developing the Eodeungsan Tourism Complex are progressing smoothly, we ask for the local community’s interest and cooperation so that a representative tourism complex in the southwest region, combining tourism, leisure, culture, and shopping, can be established as soon as possible.

- As a public institution, contributions to the local community are also important. Are there any projects for regional contribution along with ESG management?

▲ Gwangju Urban Corporation has established an exemplary ESG management foundation and has been highly evaluated internally and externally. As a result of promoting ESG management across all business areas, we received the Global Standard ESG Management Award in 2022 and the government commendation for national disaster management merit in 2023, recognizing our achievements. We will further advance ESG management so that it becomes ingrained throughout the corporation’s operations. Through ESG internalization, we will realize an Urban Corporation that grows together with the region. We will formalize ‘social responsibility’ as a core value and lead the realization of public interest within the region.

In particular, we operate a 1.37MW solar power generation project on idle sites such as the World Cup Stadium. Beyond greenhouse gas reduction and solar power projects, we will promote new power generation projects such as wind power and expand ultra-wide-area power projects linking Jeonnam and Jeonbuk during my term to promote RE100 industrial complexes.

For regional contribution, our corporation has supported the Bitgoeul Senior Health Town with about 4 billion KRW over the past 14 years. We will continuously strengthen social contribution activities for the local community. We will also actively identify housing blind spots such as non-housing residents and provide detailed residential welfare services.

Additionally, during the development of the Advanced 3 District, we formed a public-private consultative body to finalize public contribution funds. We will actively reflect citizens’ opinions in management through the operation of such consultative bodies in decision-making processes and create an Urban Corporation that grows together with citizens.

Kim Seung-nam, President of Gwangju Urban Corporation, is explaining ESG management and asking for the interest and support of citizens. Photo by Kim Wan-jung

- Please present the future direction and mid-to-long-term vision for Gwangju Urban Corporation’s operation.

▲ We will carefully analyze environmental changes and promote sustainable growth of the corporation through innovative management strategies, leading regional development. We will build future growth engines through innovative business system reforms. Along with the smooth promotion of existing projects such as Advanced 3, Medical Specialized Industrial Complex, Future Car, and Eodeungsan, we will participate in Phase 2 of the AI cluster project to create a ‘Korean-style AI Valley’ in Gwangju and seek diversified overseas market expansion to become a glocal public enterprise expanding globally.

We will discover sustainable new businesses such as renewable energy projects including solar and wind power and actively consider developing rental-only industrial complexes favorable for attracting foreign investment and RE100 industrial complexes in cooperation with Jeonnam and Jeonbuk. We will realize Gwangju-style housing welfare through customized housing supply and advancement of residential welfare services. By supplying quality rental housing centered on medium-sized units (84㎡) using rental housing sites, we will meet citizens’ expectations and create a livable residential environment by promoting social housing for childcare families, residential environment improvement projects, and public-private cooperative residential welfare projects.

We will realize a vibrant daily life for citizens through advanced project operation management. By operating various programs utilizing sports and public facilities such as indoor swimming pools, we will add diversity to citizens’ daily lives and continuously improve customer service by enhancing facility management efficiency using innovative technologies like artificial intelligence.

- Any message for the citizens of Gwangju?

▲ First, I sincerely thank the citizens of Gwangju. Thanks to your support and love, our corporation has been able to continuously strive for Gwangju’s development and improvement of citizens’ quality of life for over 30 years since its founding. We will continue to strengthen communication with government ministries and Gwangju City and create a ‘better place to live,’ ‘better place to enjoy,’ and ‘better place to do business’ through various collaborations.

To revitalize the local economy, we will actively promote new development projects such as the Future Car National Industrial Complex and Medical Specialized Industrial Complex to create a foundation for job creation. We will improve residential conditions by strengthening housing services such as public rental housing and youth-specialized housing supply and lead the nation with Gwangju-style rental housing and youth housing. We will advance ESG management to become a public enterprise that fulfills environmental and social responsibilities. Through continuous innovation, we will lead Gwangju and further enhance the quality of life for citizens.

As a representative public enterprise of the region, Gwangju Urban Corporation promises to do its best to grow and develop together with local residents. We ask for the active interest and support of all citizens.