LH Acting President Also Tenders Resignation

Prolonged Leadership Vacancy at LH

Amid delays in appointing a new president for Korea Land and Housing Corporation (LH) following the resignation of the previous president, it has been reported that the vice president, who was serving as acting president, has also recently expressed his intention to resign.

LH Headquarters. Photo by Yonhap News

According to industry sources on January 6, Lee Sangwook, the vice president of LH who has been serving as acting president, recently submitted his resignation. The specific reasons for his resignation have not been disclosed.

The recommendation for a new LH president was not submitted to the Public Institution Management Committee of the Ministry of Economy and Finance last month. There is speculation that the expression of resignation is related to the ongoing delays in the appointment process for the new president.

Previously, only three current or former LH officials were recommended as candidates for the new LH president, and it was reported that no external candidates were included.

Lee Hanjoon, the former LH president appointed during the administration of President Yoon Suk Yeol, expressed his intention to resign three months before the end of his term in August last year and was dismissed in October of the same year.

If Vice President Lee's resignation is accepted, LH will inevitably operate under a "proxy of a proxy" system, with the next executive in the organizational hierarchy serving as acting president until a new president is appointed.