Vice Chairman of Jonghoon Group Elected as Chairman of Local Housing Association

Jonghoon Group vice chairman Jeong Wonju has been elected as the new chairman of the Korea Association of Housing Builders.

KHBA is one of the two largest housing associations in South Korea. About 7,800 construction companies are members of the association.

The association held its general meeting on Thursday and elected Jung as its new leader.

When Chung was elected, he said, “I feel a great responsibility because the business environment for construction companies is getting tougher due to the recent rise in interest rates and the recession of the real economy.” “We will make great efforts to overcome the current crisis and contribute to the development of the housing industry and ensuring public access to quality housing here,” Jung added.

Jeong is the vice chairman of Jonghoon Group, the largest shareholder of Daewoo E&C. Jung is also Chairman of Daewoo E&C and publisher of The Korea Herald and Herald Business.He is also Chairman of Herald Corp.

Shim Woohyun (ws@heraldcorp.com)