LH President Lee Seong-hoon: “We plan to break ground on 86,000 homes in the Seoul metropolitan area this year ... and advance groundbreaking at Seoripul and Taereung by a year”

[Financial News] Lee Seong-hoon, president of Korea Land and Housing Corporation (LH), said the corporation plans to break ground on 86,000 homes in the Seoul metropolitan area this year.
In his opening remarks at the National Assembly Land, Infrastructure and Transport Committee’s parliamentary audit on the 12th, President Lee said, “We have stopped selling housing sites we have developed to the private sector and shifted to direct development. Through internal reorganization and staff redeployment, we are increasing the volume and pace of supply.”
President Lee stressed, “For public housing-site projects in Seoripul and Taereung in Seoul, we are boldly carrying out all procedures—including permits and approvals, compensation, demolition, and site preparation—in parallel and at an accelerated pace, shortening the time to groundbreaking by at least a year. To expand groundbreaking on homes in urban areas favored by the public starting next year, we will swiftly advance preliminary procedures for rebuilding older rental housing, using idle sites, and urban complex development projects.”
Regarding homes acquired for rental, he said, “By shortening schedules at every stage and strengthening incentives for early groundbreaking, we will quickly make construction starts and move-ins a reality.”
President Lee said, “We will comprehensively overhaul the locations, branding, design, and services of both for-sale and rental housing and raise quality above that of apartments from leading private-sector brands in Korea. We will expand public rental housing in prime locations, such as near transit stations, and increase unit sizes so that middle-income households can live there as well.”
Regarding the Third New Towns, where move-ins are set to begin at the end of this year, he said the corporation would open the metropolitan transport network on schedule and continue to attract anchor companies.

[email protected] Jeong Gyeong-su Reporter