[Alpha Biz=(Chicago) Reporter Kim Jisun] Booyoung Group founder Lee Joong-keun, who was recently reinstated as a special pardon for Liberation Day, has returned to the management front. It has been about three years since I resigned from the presidency in October 2020.

Booyoung Group said on the same day that the founder resumed his official duties when he took office as chairman at the headquarters of the Booyoung office in central Seoul on the 30th.

Chairman Lee's prison term expired in March last year, but his employment was restricted for five years under related laws, but his employment restrictions were lifted when he was included in a special pardon on Liberation Day on the 14th. Founder Lee holds a 93.79 percent stake in the group.

With Chairman Lee's management gap, Booyoung Group's management performance also deteriorated, resulting in an operating loss of 161.5 billion won last year. The construction capacity evaluation ranking of Booyoung Housing announced by the Ministry of Land, Infrastructure and Transport this year was 93rd, down 58 steps from 35th last year.

Booyoung Group expects the return of Chairman Lee, the founder and major shareholder, to give momentum to the projects that have been incomplete due to Chairman Lee's absence. In particular, it is expected to speed up rental housing supply and development projects in the construction sector, which is the group's main business. Lee Hee-beom, who led the group during Lee's absence, will retain his chairmanship.

 

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