Kim Gwonsu, President of Gyeongnam Development Corporation, Promises Rebirth Through Change and Innovation

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] “We will be reborn based on change and innovation in all tasks.”

On the 20th, Kim Gwonsu, President of Gyeongnam Development Corporation, held a press conference at the Gyeongnam Provincial Government Press Center and said this.

President Kim explained that there have been many problems in overall management, mentioning recent poor evaluation results such as the Ministry of the Interior and Safety’s management evaluation grade of B, the Anti-Corruption and Civil Rights Commission’s comprehensive integrity grade of 4, and accidents at the corporation’s construction sites.

He said, “We will secure execution power for seven major tasks including management innovation, business innovation, and organizational innovation, not just simple work improvement, to normalize management and restore the trust of the residents.”

He promised ▲strengthening executives’ management responsibility ▲enhancing safety management ▲establishing integrity discipline by supplementing anti-corruption systems ▲improving business structure ▲continuously managing debt ratio ▲promoting rational organizational operation ▲and efficient personnel management.

Kim Gwonsu, President of Gyeongnam Development Corporation, is announcing an innovative management strategy for business normalization and restoring residents' trust.
[Photo by Lee Seryeong]

According to the announcement on that day, Gyeongnam Development Corporation will introduce external evaluations of management performance for executives such as the president and standing directors.

The evaluation will include newly established deduction indicators for safety accidents or social controversies.

They will investigate and improve the cause of the safety accident that occurred on the 3rd at the public housing construction site in Hyeondong, Masanhappo-gu, Changwon City, conduct prior safety inspections at all construction sites, and establish a safety and health collaboration governance system with related organizations.

They plan to strengthen the effectiveness and independence of audits and fundamentally block corruption by subdividing disciplinary standards and establishing an audit advisory committee.

By forming a strategic business task force (TF), they intend to actively respond to new business discovery and key business areas such as Yangsan Gasan Industrial Complex, Hyeondong public housing construction, and Gyeongnam provincial policy projects and development projects like the Haman Industrial Complex.

Non-profitable small-scale projects such as city and county consignment projects including compensation projects will be gradually reduced, and related personnel will be decreased through outsourcing.

The corporation’s debt ratio, currently at about 169%, which is lower than the Ministry of the Interior and Safety’s management standard of 250%, will be maintained by appropriately adjusting the volume of projects.

They will also prepare management standards for projects and prepare for the business environment due to increased project volume through organizational restructuring implemented at the end of last year and active review of construction supervision and ordering.

President Kim said, “We will communicate with residents and build trust and consensus on the ground,” and added, “We will devote ourselves to playing a key role as Gyeongnam’s representative public corporation leading regional economic revitalization and improving residents’ welfare.”

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