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Former state auditor to become standing auditor at LH

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Yeom Ho-yeol
Yeom Ho-yeol
By Lee Kyung-min

Korea Land and Housing Corp. (LH) said Thursday that its new standing auditor Yeom Ho-yeol was sworn in Monday.

The former senior auditor of the Board of Audit and Inspection (BAI) has 22 years of experience in auditing state-run organizations.

He is expected to strengthen the ethical standards of LH, which has been hit for a lack of discipline and code of conduct. The land ministry-supervised entity came under tight public scrutiny after many of its employees were found to have engaged in land and property speculation with inside information that was not public.

The scandal has since intensified to include public servants. Of the more than 740 officials questioned on suspicion of abuse of government-managed data and insider information, 47 were referred to the prosecution. The total amount of land ― worth over 24 billion won ($21.3 million) ― purchased by them will not be traded until those prosecuted are tried and receive a court verdict.

Yeom graduated from Seoul National University and began his professional career at Samil PricewaterhouseCoopers (PwC). His career in the public sector began at BAI in 2000.

The appointment of a former career auditor came shortly after LH selected former National Tax Service commissioner Kim Hyun-joon as its CEO on April 23.

Kim vowed in a speech that the employees of the much-criticized organization will be required to follow and internalize an entirely different set of rules under his leadership.

"The management led by Yeom and Kim is expected to strengthen internal control, thereby restoring the public's faith in the organization," an LH official said.



Lee Kyung-min lkm@koreatimes.co.kr


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