Kwon Hyung-taek Appointed as HUG President, Emphasizes "Real Estate Stability and Enhancement of Housing Welfare for Ordinary People"
Kwon Hyung-taek, President of HUG, is delivering his inaugural speech at the inauguration ceremony on the 23rd. (Photo by HUG)
View original image[Asia Economy Reporter Moon Jiwon] Housing and Urban Guarantee Corporation (HUG) announced on the 26th that it held the inauguration ceremony of the new president, Kwon Hyung-taek, at its headquarters in Busan on the 23rd.
In his inaugural speech, President Kwon said, "I feel a heavy responsibility as the new head of HUG, a leading public corporation responsible for stabilizing housing for the common people," and added, "We will actively and proactively respond in accordance with government policies within the scope of HUG regulations and related laws to stabilize real estate prices and promote housing welfare for the common people."
President Kwon is a real estate finance expert who graduated from Seoul National University with a degree in International Economics and completed graduate studies at the University of Michigan in the United States. He has extensive experience in the economic, financial, and investment sectors. He served as Executive Director at HSBC, Head of Investment Management Division at C9 AMC, Investment Attraction Advisor for Incheon, Vice President of Midan City Urban Development Co., Ltd., and Head of Strategic Business Division at Seoul Metro. From 2018 until January of this year, he was CEO of Gimpo Gold Line Operation.
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After the inauguration ceremony, President Kwon signed a labor-management harmony agreement with the HUG labor union at the labor-management harmony declaration ceremony. He pledged to practice labor-respecting management based on communication and to maintain a cooperative relationship based on trust between labor and management. He expressed his ambition, saying, "This is an important time for HUG's role as a central institution responsible for stabilizing housing for the common people," and "I will do my best to improve the quality of life of the people through government policy support."
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