LH to break ground on 100,000 homes a year from 2028, with orders worth around 30 trillion won

[Financial News] Korea Land and Housing Corporation (LH) plans to begin construction of more than 100,000 public housing units a year from 2028 through 2030 and push ahead with orders worth around 30 trillion won. The company aims to speed up follow-up measures to the government's housing supply plan announced on the 13th by gradually increasing the number of projects started this year and next year.
According to LH on the 27th, its target for this year is 50,000 units, with orders totaling 14.9 trillion won. In 2027, that will rise to 76,000 units and 25.7 trillion won, before LH plans to continue with annual starts of more than 100,000 units and orders worth around 30 trillion won from 2028 to 2030. Compared with the 2026 target, annual starts will double from 2028.
Through the August 13 measures, the government decided to expand the number of construction-based public housing starts by 180,000 units, including 100,000 units on new sites in the Capital Region. LH also plans to accelerate preliminary procedures such as permits and design competitions this year for urban housing projects using idle land and school sites, with sequential construction set to begin from 2027.
The Seongdae Baseball Stadium site, an idle urban plot, will go through permitting this year and break ground in 2027. Four leading projects in Gangseo-gu, Seoul, along with four school-site mixed-use pilot projects, will go through design competitions this year and permitting next year, with construction targeted for 2028. Managing the schedule so planned volumes translate into actual starts will be key.
On the same day, the corporation held a housing supply meeting and briefing session with the construction industry at its Southern Gyeonggi Regional Headquarters, sharing its five-year order plan, private-sector partnership projects, universal rental housing, and measures to promote modular housing. About 150 people, including representatives from builders and construction management firms, attended the briefing.
The industry said the expansion in construction starts would help revive the sluggish construction market and create jobs, but added that institutional support is needed, including adequate construction periods and costs to prevent safety accidents and poor workmanship.
Lee said, "I hope the private and public sectors can join forces with one heart to resolve difficulties on the ground and accelerate housing supply." He added, "LH is concentrating all of its capabilities with a strong sense of responsibility to achieve its goal of supplying an annual average of 120,000 homes over the five years through 2030, including public land, urban areas and new purchase-based housing."

[email protected] Jang In-seo Reporter