Minister Byeon Chang-heum receives 40 million won in bonus as LH president

Input 2021.03.10 23:06

Minister Byeon Chang-heum receives 40 million won in bonus as LH president
During tenure, LH employees use internal information to controversy over’land speculation’

While Minister of Land, Infrastructure and Transport Byun Chang-heum was suspected that LH employees used internal information to speculate on land while in office as President of LH (Korea Land and Housing Corporation), Minister Byun was confirmed to have received tens of millions of won in bonuses for management performance.

On the 10th, National Assembly member Chu Gyeong-ho said that Minister Byun received a grade of A in the management evaluation of public institutions in 2019, when he was LH president, and received an incentive amount of 79 million won. At the time, LH’s ethical management item was D+, which was a failing point, and it was pointed out that effective measures to improve integrity were needed, but it was highly evaluated for the performance of public housing projects.

LH introduced a’medium-term incentive system’ that divides executive incentives over three years according to the evaluation, and accordingly, Minister Byun received 39.93 million won, 50% of last year’s incentives, and 50% was paid in installments this year and next year. It was known to be.

Even in the 2020 evaluation announced in June of this year, if he received A grade, Minister Byeon could receive up to 157.21 million won over the next three years, according to Assemblyman Chu.

However, if the company receives D, the lowest grade in the management evaluation due to the recently revealed employee speculation, the incentive pay for last year will disappear. In addition, 40% of the remaining amount in 2019 was cut, receiving only 23.96 million won.

Congressman Chu pointed out, “When Minister Byeon was the president of LH, he received incentives because his management evaluation was okay, but looking at the backside, employees speculated using internal information.”

Currently, LH is taking public offense over allegations of land dumping by employees using internal information. Congressman Chu insisted, “The former president, Minister Byeon Chang-heum and executives, must return the full amount of incentives.”