Gangwon Land received a D grade in the Ministry of Strategy and Finance's "2022 Management Performance Evaluation" released in May. Grade D corresponds to the second lowest "insufficient" among the six evaluation grades, the lowest ever. Earlier, Gangwon Land had received a C grade from 2018 to 2021.
The reason why the C grade, which had been observed during the COVID-19 outbreak, collapsed is because the government judged that Kangwon Land lacked management skills.
Gangwon Land's total management measurement score was 79.179 points, down 2.116 points from the previous year (81.295 points). The quantitative and total score of major projects was 20.138 out of 24 points, lower than the previous year (21.936 points).
Many in the industry view that Gangwon Land's failure is due to its "indulgence management." Earlier, Gangwon Land had controversy over its qualifications for CEO Lee Sam-gul and management, who took office amid controversy over parachutes under the previous administration.