LH Announces Recruitment for 'Compliance Officer' Following Employee Real Estate Speculation Scandal

Monitoring and Investigation of Illegal Real Estate Transactions and Speculative Activities by Executives and Employees, Support for Preventive Education
Recruiting One External Expert with Over 5 Years of Audit and Investigation Experience for Professionalism and Fairness
Applications Accepted Until the 16th, Final Selection Announcement in August

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 6th that it will hold a public recruitment for a ‘Compliance Officer’ to monitor and prevent illegal and unfair real estate transactions and speculative activities by its executives and employees.

Through this recruitment, LH will hire one Compliance Officer. To ensure fairness and expertise in the role, candidates must be Grade 5 or higher public officials with over 5 years of experience in auditing or investigation, or external experts such as judges, prosecutors, or lawyers. The Compliance Officer will independently monitor and detect real estate speculation by LH executives and employees and will be responsible for education to prevent speculative activities.

The main duties include △ investigating and disclosing results of illegal or unfair transactions using development information obtained during the public development project process by executives and employees △ verifying real estate ownership and transaction activities of executives and employees △ supporting the Ministry of Land, Infrastructure and Transport’s regular investigations into real estate transactions by executives and employees.

Additionally, the Compliance Officer will support regular anti-corruption education to prevent the use of undisclosed information, illegal or unfair transactions, and speculative activities by executives and employees.

The selected Compliance Officer will work at LH headquarters located in Jinju, Gyeongnam, with a basic term of 2 years. However, if performance is excellent, the term can be extended in units of 1 to 5 years.

Those wishing to apply should visit the LH Human Resources Management Office or submit the required documents, including an application form and self-introduction letter, by mail by the 16th. After document and interview evaluations and reputation checks, the final successful candidate will be selected in August.

In March, LH established the Compliance and Ethics Monitoring Team, an internal monitoring organization dedicated to eradicating real estate speculation by executives and employees. LH has also built and operates its own real estate registration and reporting system to track ownership and transaction details of executives and employees. Furthermore, internal regulations restricting real estate acquisition for purposes other than actual use have been introduced. Land owned by executives and employees is, in principle, excluded from preferential compensation provided by project implementers. If prosecuted by the prosecution for violating real estate acquisition restrictions, dismissal will be enforced solely based on the prosecution fact. If speculative activities using undisclosed information are confirmed, severe disciplinary actions including dismissal will be taken. LH has established strong internal control measures to prevent real estate speculation by executives and employees.

Kim Hyun-jun, LH President, stated, "Through the Compliance Officer, we will thoroughly investigate the ownership and acquisition of real estate by executives and employees to ensure that LH can be reborn as a clean and transparent public corporation trusted by the people."

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