Booyoung Group announced on January 2 that it has appointed Lee Yong-seob, former Minister of Construction and Transportation and Minister of Government Administration and Home Affairs, as its new chairman. The appointment was made on January 1.
Lee, who entered public service after passing the 14th Higher Civil Service Examination, is a veteran economic bureaucrat. He served as Commissioner of the Korea Customs Service and Commissioner of the National Tax Service before becoming Minister of Government Administration and Home Affairs and Minister of Construction and Transportation. He also served as Vice Chairman of the Presidential Committee on Jobs.
Lee gained extensive experience across government branches, serving as a National Assembly member during the 18th and 19th sessions and as the elected mayor of Gwangju Metropolitan City during the 7th term of local government. He currently serves as Chairman of the Innovation Committee at the Korean Senior Citizens Association and as an advisor at law firm Yulchon.
"The new chairman is an innovator with deep insight and extensive experience spanning real estate and construction policy as well as administration and economics," Booyoung Group said, explaining the appointment. "We expect him to strengthen the group's fundamentals, lead in the changing business environment, and establish a foundation for sustainable growth."
In his inaugural statement, Lee said, "Building on Booyoung Group's solid management foundation, I will devote all efforts to change and innovation so that we can meet the national demand for housing stability and develop into a more trusted global company serving the people."
Booyoung Group has been jointly led by founder Lee Joong-keun and Lee Hee-beom, former Minister of Commerce, Industry and Energy. With the appointment of Lee Yong-seob, Chairman Lee Hee-beom will step down.
