LH to Inject an Additional 2 Trillion Won into Gwangmyeong-Siheung and Yongin Semiconductor Complex, Speeding Up Compensation

[Financial News] Korea Land and Housing Corporation (LH) will invest an additional 2 trillion won in total this year in the Gwangmyeong-Siheung Public Housing District and the Yongin Semiconductor National Industrial Complex. It plans to secure compensation funds up front to accelerate initial procedures and link them to subsequent stages, including housing supply and industrial complex development. LH said on the 12th that it would invest in the two projects 1.7 trillion won in available funds generated by making this year’s project spending more efficient, along with an additional 300 billion won in funding. As a result, this year’s total project budget will increase from the original 40.7 trillion won to 41 trillion won.
An additional 1.3 trillion won will be allocated to the Gwangmyeong-Siheung Public Housing District. Covering approximately 12.71 million square meters and set to provide 67,000 homes, it is the largest project among the third-generation new towns. LH plans to allocate funds early to negotiated compensation, which began last July, complete compensation quickly, and link it to the next steps, including site development work, to bring forward the supply schedule.
An additional 700 billion won will be invested in the Yongin Semiconductor National Industrial Complex, with compensation procedures, including adjudication on expropriation, planned for completion by the end of this year. Following the start of construction on development work in the priority zone last month, LH will proceed with site preparation and infrastructure development to support the start of construction on the first fab (semiconductor manufacturing plant) in 2028.
LH President Lee Seong-hoon said, "The Gwangmyeong-Siheung Public Housing District and the Yongin Semiconductor National Industrial Complex are key national policy projects to ensure stable housing for the public and secure future growth engines for the country. We will mobilize all available resources to complete initial procedures, including compensation, early, and press ahead with subsequent work as well to deliver tangible policy results."

[email protected] Choi Ga-young Reporter