SH Corporation New President Recruitment, Five Current and Former Executives Compete

Five Current and Former SH Corporation Members Apply
First Internal Appointment as President Upon Nomination

It has been confirmed that five current and former executives of Seoul Housing and Communities Corporation (SH Corporation) have applied for the position of the new president of SH Corporation. If one of them is appointed, it will be the first time in the corporation's history that an internal candidate becomes president.

According to industry sources on the 28th, on the last day of document submission for the SH Corporation president recruitment, which was on the 25th, several current and former SH Corporation executives submitted their application documents. An industry insider stated, "I understand that about 11 people, including those from SH Corporation, submitted their documents."

Seoul Housing and Communities Corporation officially changed its corporate name from 'SH Corporation' to 'Seoul Housing and Communities Corporation' on September 1. Seoul city officials and SH Corporation representatives are seen conducting the unveiling ceremony (Source: Seoul City).

Among them, the majority are known to be current and former SH Corporation executives. Former executives who applied for this recruitment include Kim Woo-jin, former CEO of Seoul Investment Management, Lee Yong-duk, former head of the Rental Management Headquarters, and Hwang Sang-ha, former head of the Management Support Headquarters.

Former CEO Kim Woo-jin joined SH Corporation in 2015 as the head of the Planning and Management Headquarters during the tenure of former president Byun Chang-heum and served as the inaugural CEO of Seoul Investment Management, which was entrusted with managing Seoul REITs assets.

Former head Lee Yong-duk held positions such as head of the Customer Support Headquarters, head of the Rental Management Headquarters, and director of the Urban Research Institute. Both former CEO Kim and former head Lee also participated in the SH Corporation president recruitment in 2021.

Former head Hwang Sang-ha joined the corporation in 1990 and served as director of Strategic Planning, head of the Public Property Management Team, director of Financial Business, and head of Asset Management Headquarters.

Additionally, Song Soon-gi, the current CEO of Seoul Investment Management, and Na Yong-hwan, the current head of SH Corporation’s Urban Development Headquarters, are also reported to have applied.

CEO Song Soon-gi is an SH Corporation alumnus who has held positions such as head of Communication and Public Relations, director of Financial Business Planning, and director of Future Strategy. Head Na Yong-hwan has served as head of the Urban Space Business Headquarters, head of the Public Development Business Headquarters, and director of Development Business.

An industry insider commented, "Many SH Corporation alumni participated in this recruitment, and since no special rumors have emerged, the atmosphere is quiet."

It is known that former president Kim Heon-dong did not participate in this recruitment. During the previous president recruitment, after former lawmaker Kim Hyun-ah was eliminated, Kim Heon-dong was selected after the third round of recruitment.

The new president will be appointed through a process where, after document and interview evaluations, the Mayor of Seoul nominates one final candidate, who is then appointed following a personnel hearing by the Seoul Metropolitan Council. The Executive Recommendation Committee is currently reviewing the documents. Those who pass will undergo interviews on the 2nd of next month. If no suitable candidate is found, the committee will not recommend any candidate and will reopen the recruitment.

Previously, SH Corporation presidents were appointed from individuals who could work closely with the Mayor of Seoul, often from construction companies or academia. No current or former SH Corporation personnel have ever been appointed as president.

The term for the SH Corporation president is three years. However, industry insiders believe that if Seoul Mayor Oh Se-hoon runs in the next presidential election, the appointed president may not complete the full term.

An SH Corporation official stated, "The Executive Recommendation Committee received applications and discusses candidate recommendations before making decisions. The recruitment results are not disclosed separately, and the Mayor of Seoul decides after narrowing down the candidates to more than twice the number of available positions."