Kim Hanmo, new president of the Korea Developers Association. Provided by Korea Developers Association
The Korea Developers Association, which represents the domestic real estate development industry, has appointed a new leader and is moving to revitalize the development ecosystem.
The association announced on February 26 that it had held a regular general meeting the previous day and selected Kim Hanmo (56), chairman of HM Group, as its 7th president. The president’s term is three years.
Chairman Kim entered the real estate industry in 2012 and, starting with the sales and marketing company Frontier Maru as the parent company, expanded into development, asset management, and cultural projects, building a comprehensive developer group with assets of around 2 trillion won. In the development industry, he is regarded as a leading figure among the so-called "second-generation leaders." Last year, he served as head of the task force for the association’s 20th anniversary projects, successfully leading key initiatives and earning recognition for his leadership.
At his inauguration ceremony held on this day at the association’s hall on Teheran-ro in Gangnam-gu, Seoul, Chairman Kim stressed, "In the midst of difficult internal and external conditions, the association must become a solid support that member companies can always lean on," adding, "I will listen to the voices of our members from the lowest place and stand at the very front to navigate the rough waves."
Chairman Kim presented three key priorities for running the association: establishing a mutual aid association for real estate development, introducing a system to verify development project performance, and supporting member companies’ expansion into global markets. In particular, regarding the establishment of the mutual aid association, he stated, "We will build a 'financial breakwater' that will not be shaken by external conditions and thereby secure the financial sovereignty of our member companies." This reflects a plan to create a stable financial base for the industry at a time when funding conditions have deteriorated due to the tightening of the project financing (PF) market and rising construction costs.
His experience in expanding overseas business is also seen as a major strength. HM Group is working with U.S. developer Kushner Companies on development projects such as One Journal Square in New Jersey and The Hamilton in Miami. Based on this experience, the association plans to provide systematic support for Korean developers seeking to advance overseas.
Established in 2005, the Korea Developers Association is a statutory organization under the Ministry of Land, Infrastructure and Transport, based on Article 29 of the Act on the Management and Promotion of the Real Estate Development Business. Through activities such as policy recommendations, training of professionals, and academic exchanges, it has supported private housing supply and the development of the real estate industry. Recently, it has strengthened its policy response capabilities by expanding its in-house policy research function and launching the Korea Real Estate Development Industry Institute.
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