Kim Yoonduk Vows to "Do His Best to Expand Housing Supply"… Presents Appointment Letters to New Heads of Real Estate Board and HUG

Order to Eradicate Rental Deposit Fraud for Real Estate Board
Request for Full Commitment to Bond Collection for HUG

On March 23, Minister of Land, Infrastructure and Transport Kim Yoonduk presented letters of appointment to the President of Korea Real Estate Board and the President of the Housing and Urban Guarantee Corporation (HUG), urging them to expand housing supply and improve financial soundness.

Minister Kim told Heonwook Lee, the newly appointed President of Korea Real Estate Board, “Expanding housing supply is a core government initiative, and the role of the Real Estate Board has become even more significant,” emphasizing that the Board should act as a catalyst to accelerate the progress of redevelopment projects.

Kim Yoonduk, Minister of Land, Infrastructure and Transport, and Lee Heonwook, newly appointed President of Korea Real Estate Board, are taking a commemorative photo. Provided by the Ministry of Land, Infrastructure and Transport

In particular, as a professional agency for real estate market management, he called for efforts to eradicate illegal activities such as rental deposit fraud. Minister Kim said, “I ask you to actively utilize AI to provide risk information on rental deposit accidents and work to minimize damage to the public. Furthermore, as a real estate data hub, I hope you will join the Ministry of Land, Infrastructure and Transport in promoting transparency in the real estate market and supporting stable housing for the public.”

To Choi Inho, the newly appointed President of HUG, he requested a proactive role in providing housing supply guarantees amid the current downturn in regional construction markets.

Kim Yoonduk, Minister of Land, Infrastructure and Transport, and Choi Inho, the new President of the Housing and Urban Guarantee Corporation (HUG), are taking a commemorative photo. Provided by the Ministry of Land, Infrastructure and Transport

Minister Kim stated, “As HUG has received unsatisfactory ratings for three consecutive years in recent public institution management performance evaluations and delivered poor results, I hope you will thoroughly diagnose the entire organization and management and lead a transition to customer-centered management through innovation.”

Minister Kim added that, “To fulfill the core function as a guarantee institution by providing stable guarantees, this year should be regarded as the first year of restoring financial soundness, and all efforts should be focused on bond collection.”

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