Korea Land and Housing Corporation and LH have come up with innovative measures such as abolishing unfair practices and exclusive privileges to enhance fairness and transparency in overall management, and cutting up to 50% of their salaries for employees who have been released from their positions due to suspicion of real estate speculation.
LH announced today (7th) that it held an innovation committee on the 5th and confirmed detailed implementation plans such as personnel innovation, abolition of unfair practices and exclusive privileges, eradication of abuse and irrationality at construction sites, and establishment of ethical compliance management.
LH has strengthened the standard that, if an executive violates the duty of integrity and a penalty is confirmed, to recover performance and annual salary only up to three years after retirement. The executive remuneration regulations have been amended so that the annual salary can be recovered for up to five years.
In addition, when an employee is released from his position due to suspicion of real estate speculation, etc., punishment regulations have been strengthened so that he can reduce up to 50% of what was previously only possible to reduce 20% of his basic salary.
In addition, a promotion restriction system was established so that speculators, such as those with multiple houses, cannot be promoted to higher positions.
If disciplinary action is required for violating real estate acquisition restrictions, promotion will be restricted, and promotion will be canceled even if violations are discovered after promotion.
A plan to improve unfair practices, such as preferential treatment for retirees and giving away work, was also prepared, which was raised at a state audit last month.
It was decided to restrict the appointment of LH (retired) lawyers and appraisers for one year after retirement, and introduce a system of exclusion, avoidance, and avoidance of appraisers from retired employees.
In addition, we plan to fundamentally ban inappropriate contact with retired employees by establishing a contact reporting system for retirees.
We plan to strengthen sanctions on insolvent construction companies to prevent the bad news of insolvent companies winning orders for services by not imposing demerit points despite serious defects.
In accordance with the government's LH innovation plan, LH plans to significantly reduce the head office organization by the end of this year and increase organizational flexibility by strengthening the on-site execution organization.