SH Corporation changes its name to 'Seoul Housing and Urban Development Corporation'... Strengthening 'development' identity

[Financial News] Seoul Housing Corporation (SH Corporation) officially changes its name to 'Seoul Housing and Urban Development Corporation (SH)'. This is to strengthen the identity of a 'development' specialized public institution that not only improves citizens' housing welfare but also leads Seoul's global competitiveness.
SH held an 'Inauguration and Vision Declaration Ceremony for the Seoul Housing and Urban Development Corporation' in the main auditorium of its headquarters in Gangnam-gu on the 11th and officially announced the new name, mission, and vision. The event was attended by Hwang Sang-ha, president of SH, Oh Se-hoon, Mayor of Seoul, Lee Jong-hwan, Vice Chairman of the Seoul City Council, Kim In-je, Vice Chairman of the Seoul City Council, and Kim Tae-su, Chairman of the Housing Space Committee.
The new name adds 'development' to the existing Seoul Housing Corporation, becoming 'Seoul Housing and Urban Development Corporation'. The plan is to further strengthen development expertise and know-how through the name change.
This name change is the third initiative following the start as 'Seoul Metropolitan City Urban Development Corporation' in 1989, 'SH Corporation' in 2004, and 'Seoul Housing Corporation' in 2016. Subsequent procedures such as the amendment of the articles of association, corporate registration, and notification to related organizations and rental housing residents were completed following the promulgation of the 'Ordinance on the Establishment and Operation of the Seoul Metropolitan City Seoul Housing and Urban Development Corporation' on May 19.
However, the existing communication brand 'SH' will be maintained. The plan is to use the accumulated brand awareness over a long period in parallel with the new name.
The mission and vision were also declared. The mission is 'to contribute to the improvement of citizens' welfare and residential stability, and to contribute to regional economic development and regional development activation', and the vision is 'a city-specialized public enterprise creating a happy and attractive city Seoul'. Core values include citizen happiness, change and innovation, coexistence and cooperation, and safety and responsibility. The goal is to contribute to the balanced development of Seoul and the improvement of citizens' quality of life, and to advance as a core public enterprise that enhances Seoul's brand value.
Oh Se-hoon, Mayor of Seoul, who attended the inauguration ceremony, said, "Even amid a declining population, the task of enhancing the city's competitiveness and enriching the lives of each citizen is right in front of us," and "Seoul will do its best with the Seoul Housing and Urban Development Corporation to improve the quality of life for citizens and create a Seoul that people want to live in."
Hwang Sang-ha, president of SH, stated, "The newly established mission will be an important guideline throughout our corporation's experience and business, contributing to the improvement of citizens' welfare and residential stability, and to regional economic development and regional development activation," and "wherever the hands of the Seoul Housing and Urban Development Corporation reach, the future of Seoul will change, and we will take the lead in creating a happy and attractive city Seoul."
Meanwhile, SH is currently carrying out major development projects that enhance Seoul's urban competitiveness, such as the Great Han River Project, Yongsan International Business District, and Mirinae House (long-term lease housing for newlyweds).

going@fnnews.com Choi Ga-young, reporter