Authority of the 'Apgujeong President': Limits on Business Rights

The head of a reconstruction union represents the group, convening general meetings and delegate councils, negotiating permits with the Seoul and Gangnam districts, and discussing construction and design costs with contractors. This role holds significant influence over the management of funds and partner companies. Given the scale of the project, which is worth trillions of won, the term 'Apgujeong President' has emerged.
 
However, the union leader does not wield absolute power. According to the union's bylaws and urban redevelopment laws, key decisions must be approved by the general assembly of union members. Depending on the nature of the budget and contracts, board and delegate council reviews and competitive bidding may also be required. Auditors oversee the executive body, while the Gangnam district grants approval for the establishment of the union and supervises project implementation and management. Height, aesthetics, and public contributions must pass reviews by the Seoul city government.
 
Only registered professional firms can handle electrical, fire safety, and information technology tasks. The selection process varies depending on whether the contractor is a subcontractor or if the union directly issues the order. Ultimately, while the trust and determination of the union leader are important, personal connections or a single stamp cannot replace a legitimate contract. In union leader elections, the focus should be on the ability to complete the project while adhering to procedures, rather than personal relationships.