Recruitment for 2-Year Vacancy of Mineral Resources Corporation President... Accelerating Restructuring and Consolidation

Korea Resources Corporation Headquarters

[Asia Economy Reporter Kwangho Lee] Korea Mineral Resources Corporation, which has been without a president for the past two years, has begun recruiting a new head.

According to the industry on the 2nd, the Mineral Resources Corporation is accepting presidential candidates until the 3rd of next month. The term is three years, with the possibility of annual renewal based on job performance.

After the Mineral Resources Corporation Executive Recommendation Committee recommends presidential candidates through document and interview evaluations, the Minister of Trade, Industry and Energy, the supervising ministry, makes the final appointment.

In 2018, the government pursued a plan to merge Korea Mineral Resources Corporation and the Korea Mine Reclamation Corporation, during which former president Kim Young-min was dismissed in May of that year with six months remaining in his term. Since then, the corporation has maintained an acting president system.

However, the government's merger plan faced local opposition and failed to pass the 20th National Assembly, leading to its abolition. Recently, Lee Jang-seop, a member of the Democratic Party of Korea, reintroduced the integration by proposing the "Korea Mining Corporation Act" with the same content.

Meanwhile, Korea Mineral Resources Corporation has been in a state of capital erosion since 2016 due to reckless overseas resource development, and ahead of the integration, it is promoting workforce restructuring and the sale of overseas resource development assets.

This content was produced with the assistance of AI translation services.