Kwonsoo Kim Steps Down Early as President of Gyeongnam Development Corporation ... "Kept Promise to Normalize Hyeontong Public Housing"

Kwonsoo Kim, President of Gyeongnam Development Corporation, has stepped down early, completing his term of approximately 2 years and 10 months.

On July 11, Gyeongnam Development Corporation announced that it had held a retirement ceremony for former President Kim the previous day.

Former President Kim stated, "The Hyeontong Hutton public housing project in Changwon, which had experienced move-in delays due to the contractor's bankruptcy, has now been normalized. With the approval for use and sales issues largely resolved, I decided to resign as promised."

Previously, in December of last year, former President Kim held a press conference at the Gyeongnam Provincial Government Press Center and said, "Once the criminal complaint related to the Hyeontong public housing is concluded and the project is back on track, I will take full responsibility as president and make a decision regarding my position."

Kwonsoo Kim, President of Gyeongnam Development Corporation. Photo by Seryeong Lee

In his retirement speech that day, he said, "As the 12th president of Gyeongnam Development Corporation, I believe I did my best to earn the trust of the people of Gyeongnam. I hope that Gyeongnam Development Corporation will continue to establish itself as a leading public enterprise that brings joy and trust to the residents while spearheading the development of the region."

It has been reported that former President Kim is considering running as a candidate for Jinju Mayor in next year's nationwide local elections.

Born in Jinju, he previously served as a member of the 7th Gyeongnam Provincial Council, an auditor at Korea Housing Management Corporation, a member of the National Unification Advisory Council, and as an operator of Jinju Cultural Center, before being appointed as the 12th president of Gyeongnam Development Corporation in September 2022.

His term was originally set to end on September 29, but he resigned about three months before its expiration.

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