President Lee Jaehyuk of Gyeongbuk Development Corporation: "Department Head Performance Contract System to Further Strengthen Performance Management Framework"

Performance Goal Contract Signing Ceremony

Gyeongbuk Development Corporation (President Lee Jaehyuk) announced that on the morning of March 23, 2026, a "2026 Performance Goal Contract Signing Ceremony" was held at the corporation's headquarters between the management and department heads, declaring a comprehensive strengthening of the corporation’s performance-driven, responsible management system. A total of 11 executives, including directors and heads of divisions, participated in the ceremony and signed the performance goal contracts.

The introduction of this performance goal contract system is a key innovation initiative aimed at advancing the corporation’s performance management framework. Its purpose is to clarify the roles and responsibilities of department heads, ensuring that the corporation’s mid- to long-term management objectives are effectively implemented at the departmental level.

The performance goal contract signing ceremony for the department heads of Gyeongbuk Development Corporation is taking place.

This system marks the corporation’s first adoption of a performance goal contract system for department heads. It was designed to supplement the existing company-wide Balanced Scorecard (BSC) evaluation by focusing on the management of department-specific issues and innovation outcomes. Each department head collaborated with the management to select two to three core tasks unique to their department, in addition to common indicators such as compliance with integrity obligations, and entered into a concrete performance goal contract to achieve these. The performance goals reflect key management tasks for the corporation, including the implementation of major projects, organizational innovation initiatives, and the improvement of integrity.

Notably, this system was designed to go beyond simply achieving quantitative targets, requiring department heads to act as a "bridge" that connects management goals to departmental operational plans and the work of individual team members, thereby enhancing the overall alignment of organizational objectives.

Previously, evaluations of department heads relied heavily on supervisor assessments, which were criticized for their subjectivity. The corporation plans to use the achievement level of these newly signed performance contracts as an objective reference for year-end supervisor evaluations, significantly increasing the predictability and acceptance of the evaluation process.

Following the contract signing, the president finalized performance goals with the directors, division heads, and managers, while the executive vice president did so with the team leaders. The implementation status of these goals will be continuously monitored through the end of the year to assess the level of achievement.

Lee Jaehyuk, President of Gyeongbuk Development Corporation, who oversaw the signing of these performance goal contracts, stated, "With the introduction of this department head performance contract system, our departmental performance management framework will become even more robust. Through clear goal management and responsible leadership, we will focus on achieving results that meet the expectations of Gyeongsangbuk-do residents."

Meanwhile, starting with the signing of these performance goal contracts, the corporation plans to spread a department head-centered performance management culture and, using the organizational execution power thus secured, accelerate efforts to revitalize the Gyeongbuk region and strengthen public value.

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