Sales of 350.2 billion won and 4,650 public housing units on his shoulders: Jeju Development Corporation nominee Kim Do-young faces confirmation hearing in mid-September

[Financial News, Jeju = Jung Yong-bok] The next chief of Jeju Special Self-Governing Province Development Corporation, who will oversee the growth strategy for Jeju Samdasoo as well as public housing and large-scale development projects, is set to face a review by the Jeju Special Self-Governing Provincial Council in mid-September. The key issue at the hearing will be how Kim Do-young, a former GS Engineering & Construction executive with 27 years of experience at major companies, applies his private-sector management background to the accountability and public mission of a local public enterprise.
According to Jeju Province and the Jeju Special Self-Governing Provincial Council on the 29th, the province submitted a request the previous day for a confirmation hearing on Kim's nomination as president of Jeju Development Corporation.
The Environment and City Committee of the council is tentatively reviewing a plan to hold the hearing between Sept. 15 and 20 during the 454th first regular session. The exact date has not yet been set. The 454th first regular session runs from Sept. 2 to 22.
Kim is from Gujwa-eup in Jeju City and graduated from Ohyeon High School and the Department of Business Administration at Seoul National University. After joining LG Uplus in 1997, he worked for about 27 years at major companies and affiliates, rising to executive director at GS Engineering & Construction in 2024.
He built experience across management as a whole, including sales, exports, construction, new business development, strategic planning, finance, and data-driven distribution management.
Jeju Development Corporation selected two finalists through document screening and interviews by its executive recommendation committee from six applicants for the 13th president position. Governor Wi Seong-gon then nominated Kim as the final candidate from among the multiple nominees.
The scale of the corporation's projects shows how significant this hearing will be. Its management targets for 2026 are sales of 350.2 billion won, net profit of 50.2 billion won, and a cumulative approved public housing supply of 4,650 units.
Its business scope also goes beyond producing and selling Jeju Samdasoo. The corporation is responsible for tangerine processing, public housing, land and urban development, and housing welfare projects that are directly tied to the lives of Jeju residents.
The first area where his management skills will be tested is Samdasoo.
According to Jeju Development Corporation, sales based on Jeju Samdasoo shipments in 2024 reached 335.4 billion won, with sales volume at about 942,000 tons. This year, the corporation has identified a 'growth transition' for Samdasoo as a key task and is pushing to stabilize its distribution structure, open new export markets, expand its product lineup, and digitally transform production and logistics.
The off-island distribution system also switched to a new contract this year. From January 2025 through December 2029, Kwangdong Pharmaceutical will handle Samdasoo sales in major distribution channels outside Jeju, including large supermarkets, convenience stores, corporate supermarkets, online malls, and business-to-business sales.
At the hearing, Kim's experience in sales, exports, and distribution management will be examined for how it can translate into strategies for maintaining domestic competitiveness and expanding overseas sales channels.
Public development is another major test. This year, Jeju Development Corporation is pushing ahead with 487 units of built-for-rent public housing, 320 units of purchased public housing, and 22 units of for-sale housing.
Another major project is the Hwabuk 2 public housing district, which will be developed across 923,809 square meters in Doryeon 1-dong, Hwabuk 2-dong, and Yeongpyeong-dong in Jeju City. The planned housing total is 5,500 units, with Jeju Development Corporation holding a 35% stake and Korea Land and Housing Corporation (LH) holding 65%.
The corporation is also expanding its participation in new policy projects, including the Hawon Technocampus and the old downtown urban regeneration innovation district.
His executive experience at GS Engineering & Construction may be seen as an asset in managing large development projects, but the standards for leading a public enterprise differ from those of a private company. In addition to profitability and project feasibility, he must also consider housing welfare, regional balance, environmental preservation, and financial soundness.
The hearing is expected to focus on what principles he would follow when business performance and public interest conflict, and how he would manage the financial risks of large-scale development projects.
Sustainable management of Jeju's groundwater is also important. Since the Samdasoo business is built on groundwater, the corporation will need a management strategy that protects water resources while expanding sales and growing the business.
Organizational stability is another challenge for the next president. Jeju Development Corporation is currently being run under acting president Kang Seong-hoon. Once a new president is appointed, the organization will also be tested on its ability to manage both Samdasoo growth and public development at the same time.
The results of the confirmation hearing will serve as a major basis for judging Kim's management capabilities and suitability to lead a public enterprise. Once the hearing process is completed, Governor Wi will make the final decision on whether to appoint him.


[email protected] Jung Yong-bok Reporter