Lee Seong-hoon, president of the Korea Land and Housing Corporation (LH), announced plans to begin construction on 96,000 housing units nationwide this year, including 86,000 in the metropolitan area.
During a report to the National Assembly's Land, Infrastructure and Transport Committee on October 12, Lee stated, "We will contribute to stabilizing the housing market by rapidly supplying more public housing," and added, "We will faithfully implement the government's housing supply policies, including the 9.7 and 8.13 measures and the housing stability plan."
Regarding the supply of public land, he explained, "We are halting the private sale of previously developed land and shifting to direct implementation, increasing supply volume and speed through internal organizational restructuring and personnel reallocation." He emphasized that by concurrently handling permits, compensation, demolition, and site preparation for public land projects in areas like Seoul's Seoripul and Taereung, they aim to shorten the construction start time by over a year.
Lee also discussed plans to expand housing supply in urban areas, stating, "Starting next year, we will expedite the preliminary procedures for the reconstruction of aging rental housing, utilization of idle land, and urban complex projects to increase housing starts in urban areas." He added that they will enhance the speed of supply for rental housing by shortening timelines at each project stage and strengthening early construction incentives.
On improving the quality of public housing, he remarked, "It is time for public housing to evolve beyond just affordable options to homes that everyone wants to live in." He noted that both sale and rental housing will see innovations in location, branding, design, and overall service, ensuring no differences in finishing materials or design between rental and sale units.
Regarding the development of the third new towns, he stated that they will ensure timely opening of the regional transportation network to coincide with the move-in dates starting at the end of this year, and will create self-sufficient cities by attracting anchor companies that combine jobs and housing.
In the area of housing welfare, he explained plans to purchase over 7,500 units affected by rental fraud and strengthen the housing safety net for vulnerable groups through remodeling of aging rental housing and installation of simple sprinklers.
On regional balanced development, he emphasized, "We will timely establish the semiconductor industrial complexes in Yongin and the Honam region, which are key to the three major mega projects," and added that they will begin construction on the national symbolic area where the National Assembly's Sejong branch and the presidential office will be located as soon as possible. He also mentioned that once the second relocation plan for public institutions is announced, they will pursue follow-up measures such as securing relocation sites.
Additionally, he noted plans to expand AI-based real-time monitoring systems at construction sites and rental housing, and to transparently disclose information related to the progress of land development projects and housing supply schedules.
* This article has been translated by AI.
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