SAEMANGEUM DEVELOPMENT CORP.

News

Saemangeum Development Corporation Welcomes Chinese Embassy Delegation in South Korea to Strengthen

Following CEO Na Kyunggyun’s visit to the Chinese Embassy in South Korea on June 3, the embassy delegation was also invited to the Saemangeum site.In continuation of discussions held on June 3, 2024, between CEO Na Kyunggyun and Ambassador Xing Haiming regarding Saemangeum development cooperation, Saemangeum Development Corporation (hereinafter “the Corporation”) hosted a visit to the Saemangeum site by a delegation led by Wang Zhilin, Economic Counselor of the Chinese Embassy. This visit aimed to strengthen economic cooperation between South Korea and China and to facilitate Chinese corporate involvement in the development of the Saemangeum area. Wang Zhilin, Economic Counselor, reviewed the development progress and key initiatives in the Saemangeum area and deliberated on strategies to enhance economic collaboration between the two nations.The Corporation introduced the Saemangeum Waterfront City project, highlighting it as the “inaugural city” of Saemangeum. This pivotal tri-port hub is equipped with land, sea, and aerial infrastructure, including the Saemangeum International Airport, a new port, inbound railways, and north-south highways.Emphasis was placed on the potential of Saemangeum Waterfront City as a distribution hub for the Pan-Yellow Sea, supported by specialized residential, educational, and medical facilities.The Corporation detailed opportunities in the tourism cruise business facilitated by the new port, introduced plans for a futuristic industrial complex

2024-06-28

News

Saemangeum Development Corporation Advances Entire Landfill Project to Revitalize Local Economy

Saemangeum Development Corporation Advances Entire Landfill Project to Revitalize Local EconomySaemangeum Development Corporation (CEO Na Kyunggyun, hereinafter “the Corporation”) held a press conference on June 26 to update on major ongoing projects and reveal “the Corporation’s core business plan.”Over the past 100 days, CEO Na Kyunggyun has assessed the Saemangeum region’s current issues and the Corporation’s projects. He announced that to accelerate Saemangeum’s development, the Corporation would prioritize the “Saemangeum Entire Landfill Project” as a key initiative under the Saemangeum New Deal project.Emphasizing the need for a strategy to expedite the completion of landfill license areas, CEO Na highlighted the decision to landfill the entire site to secure early landfill sites.A landfill project task force was established after extensive analysis, determining that KRW 7 trillion is required for the entire site’s landfill operations. The Corporation plans to finance this through existing cash reserves and issuing corporate bonds.CEO Na outlined the expected impacts of the landfill project. 1. Executing a KRW 7 trillion budget is anticipated to boost economic vitality and stimulate growth in the Jeonbuk province.2. Rapid land provision in the Saemangeum area will enable the Corporation to meet growing private sector demand promptly.3. Large-scale construction will reduce landfilling costs while standardizing landfill costs per site through extensive landfilling.CEO N

2024-06-26

News

Na Kyunggyun, CEO of Saemangeum Development Corporation, and Chinese Ambassador Xing Haiming Discus

Na Kyunggyun, CEO of Saemangeum Development Corporation, and Chinese Ambassador Xing Haiming Discuss Collaboration for Future Industries Centered around SaemangeumOn June 3, CEO Na Kyunggyun of Saemangeum Development Corporation (hereinafter “the Corporation”) met with the Chinese Ambassador to South Korea, Xing Haiming, to discuss the development plans for Saemangeum.During this crucial period requiring enhanced cooperation and mutual understanding between South Korea and China, CEO Na Kyunggyun engaged in discussions with Ambassador Xing Haiming to foster closer ties. They highlighted the Corporation’s role and explored potential collaboration opportunities for the Saemangeum project.CEO Na explained that the Corporation is a public agency focused on landfills and urban development in the Saemangeum region. He introduced the Smart Waterfront City as Saemangeum’s “inaugural city” and emphasized Saemangeum’s transformation into a pivotal tri-port hub, featuring infrastructure such as an international airport, a new port, railways, and north-south highways. He highlighted the potential for enhanced growth through collaboration with Chinese enterprises.1. Saemangeum is emerging as a promising area for significant investments and collaboration from Chinese logistics companies, given its potential as a central hub for logistics and distribution in the Pan-Yellow Sea. 2. Highlighting Saemangeum’s position on the central west coast, adjacent to major Chinese cruise hubs, CEO Na p

2024-06-03

News

CEO of Saemangeum Development Corporation, Hosts Fun Lunch to Foster Employee Connections

Na Kyung-gyun, CEO of Saemangeum Development Corporation, Hosts Fun Lunch to Foster Employee ConnectionsEmphasizing “One Spirit, One Team”Na Kyung-gyun, CEO of Saemangeum Development Corporation (hereinafter “the Corporation”), highlighted the importance of embracing change and taking proactive measures to achieve results by fostering the “One Spirit and One Team” ethos. This aims to expedite the successful advancement of the Saemangeum project, a long-awaited initiative of Jeonbuk Special Self-Governing Province and the largest reclamation project in Korean history. As part of this initiative, CEO Na Kyung-gyun held 11 Fun Lunch meetings with all employees to address conflicts and hidden grievances within the organization stemming from differences in perceptions between positions and generations.Fun Lunch, abbreviated as “Funch,” utilizes the lunch hour for employees to enjoy a meal and communicate informally. This initiative included new employees (8 people) and interns (6 people) who recently joined the company and were invited to the event separately. All employees were provided with an opportunity to engage in casual conversations without pressure.CEO Na Kyung-gyun communicated the Corporation’s basic principles in alignment with the government’s policy direction and exchanged various opinions. He listened to employees’ grievances and suggestions, and answered their questions during the meetings.In addition, CEO Na expressed his commitment to ongoing communication with

2024-05-13

News

Saemangeum Development Corporation Holds Safety and Health Management Policy Declaration Ceremony

Saemangeum Development Corporation Holds Safety and Health Management Policy Declaration CeremonySet to Achieve Zero Serious Accidents by Establishing Life and Safety as Top Core ValuesSaemangeum Development Corporation (CEO Na Kyung-gyun, hereinafter “the Corporation”) held a Company-Wide Safety and Health Management Policy Declaration Ceremony on the morning of May 9, 2024, to ensure the safety and health of workers and establish a comprehensive safety and health management system. The ceremony was attended by executives and employees of the Corporation, as well as construction site personnel.The Corporation presented five safety and health management policies aimed at achieving zero serious accidents, reaffirming that safety is the top management priority. Executives, employees, and construction site personnel were urged to fulfill their roles and responsibilities to establish a strong safety culture.During the declaration ceremony, CEO Na Kyung-gyun expressed his firm commitment by stating, “Through today’s declaration ceremony, we are proclaiming our safety and health management policy both internally and externally. We will lead the way in achieving zero serious accidents by raising safety awareness and creating a safe working environment.”

2024-05-09

News

Excellent Organization for Personal Information Management for Three Consecutive Years

Saemangeum Development Corporation Recognized as an Excellent Organization for Personal Information Management for Three Consecutive YearsSaemangeum Development Corporation announced on April 29, 2024, that it has been recognized as an excellent organization in personal information management by achieving Level A for three consecutive years in the recently announced “2023 Personal Information Management Level Diagnosis” conducted by the Personal Information Protection Commission on public institutions.Organized by the Personal Information Protection Commission, the Personal Information Management Level Diagnosis is conducted annually on administrative and public institutions across the country. The evaluation includes 53 self-diagnostic indicators such as personal information protection management system, protection of information subject’s rights, and measures against personal information breaches, as well as 8 in-depth diagnostic indicators. The Corporation was the only public institution under the Ministry of Land, Infrastructure and Transport to obtain a Level A.The Corporation received high praise for its implementation of company-wide personal information protection, which was leadership-based. This included initiatives such as the introduction of an AI-based system for personal information leakage and exposure detection, continuous management and supervision of trustees through self-produced content, and the establishment of an internal management plan with reporting

2024-04-29

News

Reports Net Profit of KRW 7.3Billion for Last Year, Marking Second Consecutive Year of Profitability

Saemangeum Development Corporation Reports Net Profit of KRW 7.3 Billion for Last Year, Marking Second Consecutive Year of ProfitabilitySaemangeum Development Corporation (CEO Na Kyunggyun; hereinafter “the Corporation”) announced a net profit of KRW 73 billion last year,marking its second consecutive year of profitability.In 2022, just five years after its founding, the Corporation achieved a significant turnaround by recording a net profit of KRW 3 billion and sustainedthis positive momentum into 2023.A company official stated, “To secure financial resources for the Saemangeum development, we initiated a land-based solar power project.This project has significantly strengthened our financial performance by generating stable additional income since 2022.”CEO Na Kyunggyun commented, “Despite challenges in the real estate market, we remain committed to the successful development of the Saemangeum Smart Waterfront City. Our solid financial foundation strongly supports our ongoing commitment to advancing the Saemangeum development project.”

2024-04-02

News

Saemangeum Development Corporation Welcomes Third CEO, Na Gyeonggyun

Saemangeum Development Corporation Welcomes Third CEO, Na Gyeonggyun-“Fairness and Common Sense” as Core Operational Principles to Achieve Objectives□ Na Gyeonggyun has been inaugurated as the third CEO of Saemangeum Development Corporation (hereinafter “the Corporation”).□ During his inauguration ceremony on the 18th, the newly appointed CEO, Na Gyeonggyun, emphasized that the Corporation, established for the exclusive purpose of Saemangeum’s internal development, must seize opportunities amid the frozen real estate and financial markets, leveraging change to create results despite the uncertain signals of recovery. ㅇ At the forefront of his plans, the CEO urged full dedication to approving the proposed changes in the integrated development plan through a close-knit partnership with the Saemangeum Development and Investment Agency. In addition, he encouraged focusing on on-site safety as a top priority alongside speed to attain the completion percentage goal of the Smart Waterfront City project, pushing for vigilance to prevent safety from becoming mere formalities. ㅇ Highlighting that this year marks the commencement of sales for the Saemangeum Smart Waterfront City, the CEO underscored the crucial juncture for the nation to evaluate the Corporation’s six-year preparation efforts. Expressing resolve, he emphasized the necessity of achieving success in the Waterfront City’s sales by developing a meticulous sales plan incorporating investment attraction strategies. ㅇ Furtherm

2024-03-18