The Korea Land and Housing Corporation (LH) plans to initiate the construction of over 100,000 homes annually starting in 2028. The annual project scale is set to expand to 30 trillion won, aiming to accelerate the implementation of the government's August 13 housing supply measures.
On August 27, LH announced that following the government's August 13 measures, it will continue to construct 50,000 homes in 2026, 76,000 homes in 2027, and over 100,000 homes each year from 2028 to 2030.
The project scale is projected to be 14.9 trillion won in 2026 and 25.7 trillion won in 2027. From 2028 onward, it will exceed 30 trillion won annually.
The government plans to increase the construction of public housing by 180,000 units through the August 13 measures, which includes 100,000 new homes in the metropolitan area.
In line with this, LH will expedite its housing construction and project plans. It aims to accelerate the approval and design processes for urban housing projects utilizing idle land and school sites, with plans to begin construction sequentially from 2027.
Among the urban idle land projects, the Seongdae Baseball Stadium is set to receive approval in 2026 and begin construction in 2027. Three sites in Gangseo-gu, Seoul, aim for design competitions in 2026, approvals in 2027, and construction in 2028. Four leading projects on school sites are scheduled for design competitions in 2026, approvals in 2027, and construction in 2028.
On the same day, LH held a 'Housing Supply Forum' and 'Housing Supply Briefing' at its Southern Gyeonggi Regional Headquarters in Seongnam, discussing collaboration with the private construction industry. Representatives from the Korea Construction Association, Korea Housing Association, Korea Housing Builders Association, and Korea Construction Engineering Association attended the forum.
LH President Lee Seong-hoon stated, "It is crucial to strengthen collaboration with the private construction industry at this pivotal moment so that the effects of housing policies can be felt by the public more quickly and effectively. I hope that both the private and public sectors can unite to address challenges on the ground and accelerate housing supply."
During the housing supply briefing, plans for annual housing construction, private cooperation projects, universal rental housing initiatives, and modular housing activation were shared. Approximately 150 attendees, including construction and management representatives, participated in the briefing.
The construction industry expressed optimism that LH's increase in construction volume would aid in the recovery of the stagnant construction market and job creation. However, they also emphasized the need for institutional support, such as appropriate construction periods and cost assurance, to prevent safety accidents and poor construction quality alongside rapid housing supply.
As large-scale public projects commence, it is expected to positively impact not only the expansion of housing supply but also the recovery of related jobs in the construction sector.
President Lee remarked, "LH is fully committed to achieving an average housing supply target of 120,000 units annually over the next five years, including public land, urban areas, and newly built acquisitions, and will enhance communication and cooperation with the construction industry to successfully meet this goal."
* This article has been translated by AI.
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