Kim Hyun-jun, LH President: "Great Disappointment to the People... Transforming with Painful Efforts"

Apologizes at National Assembly Land, Infrastructure and Transport Committee Attendance... "Will Eradicate Wrong Practices and Corruption"

The inauguration ceremony of Kim Hyun-joon, the 5th President of LH, held at the LH Jinju headquarters on the 26th.

[Asia Economy Reporter Kangwook Cho] Kim Hyun-joon, President of Korea Land and Housing Corporation (LH), bowed his head in apology on the 27th at the National Assembly regarding the speculation allegations involving LH employees.

Kim, who was inaugurated as LH President the previous day, appeared before the National Assembly Land, Infrastructure and Transport Committee that morning and said, "I would like to take this opportunity to deeply apologize to the public for the great disappointment and concern caused by the real estate speculation by some LH employees."

He stated, "I feel a heavy sense of responsibility and mission as I assume the position of LH President during this critical time," adding, "All LH executives and employees, including myself, will undergo a thorough self-reflection and transformation to ensure that such regrettable incidents never happen again."

Kim emphasized, "We will significantly strengthen the internal control system and strictly enforce the property registration system and real estate acquisition restrictions," and added, "We will prioritize integrity and fairness to vigorously reform the organization and decisively eradicate wrongful practices and corruption through bold reforms."

He announced plans to reform the organization by making work procedures and decision-making processes fair and transparent. He also pledged to fully commit to stabilizing the real estate market and ensuring housing stability for the public by faithfully implementing government housing supply policies such as the 2·4 measures.

Kim stressed, "We will accelerate the supply of public housing according to the housing welfare roadmap, including the pre-sale of the 3rd new town, to contribute as quickly as possible to helping low-income households without homes acquire their own houses."

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