Nam-gung Young, head of KAMCO’s Public Development Headquarters (center) poses for a photo shoot with Lee Sang-young, chairman of the Korea Real Estate Analysis Association (fifth from left) and other participants at the 2021 KAMCO-KREAA Policy Seminar at the KAMCO Yangjae Tower in Gangnam-gu, Seoul on Oct. 8. (Photo: KAMCO)

Korea Asset Management Corporation (KAMCO) and the Korea Real Estate Analysis Association (KREAA) announced that they co-hosted the 2021 KAMCO-KREAA Policy Seminar at the KAMCO Yangjae Tower in Gangnam-gu, Seoul on Oct. 8.

KAMCO, which introduced a consignment development system in 2004 to increase the value of underutilized state-owned property, has thus far successfully carried out more than 40 public development projects, including the Nara Kiwoom Jeodong building in Seoul.

This seminar aimed to check and review KAMCO’s business performances and discuss KAMCO’s desired roles in the future.

In a seminar presided over by Lim Mi-hwa, a professor at Jeonju University, Lee Seung-wook, director of the Korea Research Institute for Human Settlements spoke about the roles of public institutions.

Jeong Eun-sang, CEO of Real Estate Library, made a presentation on domestic and foreign cases and their implications.

Song Yong-cheol, a senior research fellow at KAMCO Research Institute, delivered a lecture on the results and future direction of KAMCO’s state-owned property development.

Those who took part in the seminar as panelists included Nam-gung Young, head of KAMCO’s Public Development Division, Lee Hyun-seok, a professor at Konkuk University, Kim Jin-yu, a professor of Kyunggi University, Lee Myung-beom, head of P&D Partners, and Hyun Gil-yong, a manager of Hyundai Engineering & Construction.

“We were able to have an in-depth productive discussion about public development projects with experts,” Nam-gung said. “In the future, KAMCO will faithfully play the role of a leading platform that adds value to national assets by expanding exchanges and cooperation.”

The seminar was live streamed for institutions and organization interested in public development projects, such as state-run research institutes and associations. Anyone can watch a replay of the seminar video on YouTube channel “KAMCOTV.”

KAMCO is seeking innovation measures to enhance the value of state-owned assets such as research on public development projects, national and public property development, and analyses of real estate markets and policies through the KAMCO Research Institute, an organization dedicated to internal management consulting.

Meanwhile, KAMCO announced that Nam-gung Young, head of KAMCO’s Public Development Headquarters, conducted a special safety inspection with the Project Management Team by visiting the construction site of Nara Kiwoom Iksan Government Complex with other KAMCO officials on Oct. 14.

The inspection was carried out to spread a safety culture in which KAMCO directly protects workers from accidents and place people’s lives and safety above anything else before the enforcement of the Critical Disaster Punishment Act in January 2022.

In particular, as reinforced concrete construction work with high risk was underway at the construction site of the Nara Kiwoom Iksan Government Complex, Nam-gung personally checked whether basic safety facilities were in place and rules were well observed and repeatedly stressed the need for safety management.

KAMCO checked measures, equipment and facilities to prevent workers from falling to death to spread the safety culture, and checked the status of project management such as measures to prevent fires and explosions and compliance with COVID-19 quarantine rules.

“KAMCO will carefully inspect all of our construction sites to prevent disasters,” Nam-gung said. “We will steadily make efforts to spread a safety culture where workers’ safety comes first by creating a safe construction environment.”

KAMCO has so far not recorded any big accidents at construction sites for seven consecutive years due to management-led accident prevention activities such as the CEO’s Special Safety Inspection and Safety Meeting, as well as efforts to spread a self-regulated safety culture among others.