Scandal-Ridden Housing Company to reduce 20% of Staff
08 June, 2021
The government plans to cut a lot more than one-fifth of the workforce at the scandal-ridden Korea Land and Housing Corporation.
The decision comes in the wake of the revelation that LH staff used insider information to take a position on territory in areas slated for advancement.
The Ministry of Property, Infrastructure and Transportation said on Mon that the government will cut a lot more than 20 percent of LH's almost 10,000 employees and reform the organization.
Executives at LH will also be barred from taking careers in corporations with ties to the organization when they retire.
All LH staff will have to declare their property holdings and may only buy real estate because of their own use.
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