HDC Group Chairman Chung Mong-gyu resigns… Complete demolition of Hwajeong I-Park – even considering re-construction

Photo courtesy of Yonhap News

Chung Mong-gyu, chairman of HDC Hyundai Development Company, has decided to step down from his post due to responsibility for the Gwangju accident.

He also explained that the apartment is open to the possibility of complete demolition or re-construction.

Chairman Mong-gyu Chung held a press conference this morning at the Yongsan office building in Seoul and said, “I bow my head and apologize to the victims of the Gwangju accident, their families, and the people.” We will consider rebuilding it,” he said.

Chairman Chung announced his resignation only six days after the collapse of the outer wall of the new construction site of Hwajeong I-Park in Seo-gu, Gwangju on the 11th, and HDC Hyundai Development Company caused a large-scale fatal accident in the process of demolition of the redevelopment area in Gwangju in June of last year. .

However, Chairman Jung said, “Even if I resign as chairman, I will fulfill my responsibilities as a major shareholder.”

Mong-gyu Chung, who served as Hyundai Motors Chairman from 1986 to 1998, has served as Hyundai Industrial Development Chairman since 1999 as management rights of Hyundai Motor Company passed to Hyundai Motor Group Honorary Chairman Chung Mong-koo.




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