It has been processed as a resignation for Lee Han-joon, president of the Korea Land & Housing Corporation (LH), about two months after he expressed his intention to step down.
The government's Ministry of Personnel Management on the 31st sent an official letter stating "dismiss Lee Han-joon from the post of LH president" to the Minister of the Ministry of Land, Infrastructure and Transport (MOLIT) and to the head of the Ministry of Personnel Management.
Lee, who took office as president at LH in Nov. 2022, expressed his intention to resign to the Ministry of Land, Infrastructure and Transport (MOLIT) on Aug. 5, three months before his term expired. After that, acceptance of Lee's resignation had been delayed for more than three months.
With Lee Han-joon's departure, Vice President Lee Sang-uk will serve as acting president. LH is expected to begin an open recruitment process to select the next president.
In his farewell address that day, Lee said, "Time has flown quickly since I took office as LH president on Nov. 11, 2022, and before I knew it, I have come to offer a farewell," and added, "I took office with a heavy sense of responsibility to change LH, which had fallen into its worst crisis since its founding due to allegations of real estate speculation by LH executives and employees."
Lee said, "In handling the collapse of the parking garage at an apartment complex in Incheon Geomdan that occurred right after I took office, I worked to improve shoddy construction and the revolving‑door cartel practices," and explained, "We have pressed ahead without hesitation on various pending issues, including a large expansion of purchased rental housing to stabilize the real estate market and overcome the construction crisis."
Lee said, "In particular, I have done my utmost to change the organizational culture in which collaboration and communication were cut off due to divvy‑up personnel practices and silos that persisted even 16 years after the land corporation and the dwellings corporation were merged," and added, "As a result, we were able to raise LH's government management evaluation grade, which had remained at D for three consecutive years, to a commendable B, achieving No. 1 performance among SOC public enterprises."
Lee added, "As I conclude this heavy journey, I intend to serve those who need my help with a free and comfortable mind in a new field and to play a role in national development," and said, "If there were parts that unintentionally caused disappointment, I ask for your generous forgiveness, and I extend my sincere thanks to everyone who has bestowed love and trust."