The Seoul Housing and Urban Development Corporation (SH) is set to expand its housing supply tailored for youth and seniors, enhance support for redevelopment projects, and accelerate urban development initiatives across various regions. This strategy aims to strengthen housing stability and urban competitiveness in Seoul, going beyond just public housing supply to include urban development and regional economic revitalization.
On July 2, SH held a 'Future Vision Sharing Meeting' at its headquarters in Gangnam, attended by all employees, where it announced plans for key projects aimed at realizing Seoul's vision of becoming a 'Global Top 3 City' and a 'Special City for Quality of Life.'
Since changing its name to the Seoul Housing and Urban Development Corporation last year, SH has broadened its scope to include not only public housing supply but also urban development and economic revitalization. The organization plans to continue strengthening its housing welfare and urban development functions in alignment with city policies.
To support its youth housing initiative, 'The Dream House+,' SH will introduce new housing types such as 'Baro Nae Jip' and rental dormitories. This effort aims to reduce the housing cost burden for young people, including university students, early-career professionals, and newlyweds, while expanding their housing options.
SH will also increase the supply of senior housing in response to an aging population. The corporation plans to develop senior housing in Seoul that integrates meal, leisure, and health care services, with a goal of supplying 1,000 units by 2031.
Support for redevelopment projects will be enhanced as well. SH intends to participate in redevelopment initiatives that are challenging for the private sector to undertake alone, facilitating project acceleration and expanding the verification of management and disposal plans to shorten project timelines. This initiative is part of SH's strategy to contribute to Seoul's goal of starting construction on 310,000 housing units by 2031.
In the realm of urban development, SH will pursue projects aligned with the city's five regional development strategies. In the city center, it will support the creation of a green ecological urban area in the Sewoon district and the development of the Yongsan International Business District. In the northeastern region, SH will assist in establishing the Changdong K-Entertainment Town and the Seoul Digital Bio City.
In the northwestern region, a cultural tourism hub will be developed around the Sangam Big Wheel, while in the southwestern region, plans are underway to transform industrial areas into research and development clusters. In the southeastern region, SH will focus on creating industrial clusters centered around the Gangdong General Industrial Complex.
Additionally, SH will continue to advance major development projects such as the Great Han River Project, the Seoripul District, the Songpa Creative Innovation District, and the Guryong, Seongdu, and Baeksama Villages.
Hwang Sang-ha, CEO of SH, stated, "The corporation is continuously pursuing public housing supply, redevelopment projects, and urban development initiatives in line with the city's policy direction. We will work closely with the Seoul Metropolitan Government and the Seoul City Council to ensure the successful implementation of projects aimed at enhancing the quality of life for citizens and strengthening urban competitiveness."
* This article has been translated by AI.
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