Jung Sye-kyun: "No Consideration for Splitting LH into Tokong and Jugong"

LH Authority Overconcentration... "Will Fix Inefficiency and Side Effects"

Prime Minister Chung Sye-kyun is attending the plenary session of the Special Committee on Budget and Accounts held at the National Assembly on the 19th, responding to questions from lawmakers. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Jang Sehee] Prime Minister Chung Sye-kyun stated regarding the reform plan of Korea Land and Housing Corporation (LH) that "the separation of the Land Corporation and Housing Corporation is not being considered."

On the 19th, during the plenary session of the National Assembly Budget and Accounts Special Committee, in response to a question from Rep. Cho Hae-jin of the People Power Party asking, "There are talks that the plan to separate LH into the Land Corporation and Housing Corporation before their merger is under review," Prime Minister Chung said, "The plan to separate LH's land development and housing construction functions is not being considered." He added, "We are not considering dismantling the integration of these two functions."

However, he believes some adjustment of LH's functions is necessary. Prime Minister Chung emphasized, "If inefficiency and side effects arise due to LH's excessive authority and bloating, those parts must be corrected through reform or innovation."

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