Bucheon Urban Corporation-LH, Agreement on Bucheon Yeokgok District Project Implementation... 5,000 Households to be Supplied by 2024

[Asia Economy Reporter Park Hyesook] Bucheon Urban Corporation and Korea Land and Housing Corporation (LH) have signed a business agreement to jointly implement the Bucheon Yeokgok District project.

According to Bucheon City on the 24th, the agreement was prepared to formalize specific participation shares and roles after LH and Bucheon Urban Corporation were designated as joint housing project operators by the Ministry of Land, Infrastructure and Transport in December last year.

The Bucheon Yeokgok Public Housing District is a project to supply about 5,000 housing units by 2024 on a 660,000㎡ (200,000 pyeong) site covering Chunui-dong and Yeokgok-dong areas in Bucheon. Among these, more than 2,500 units will be supplied as Happy Housing and rental housing for vulnerable groups such as youth and newlyweds.

The Yeokgok District is expected to start procedures through the announcement of the compensation plan in the second half of this year, and the district plan will be finalized next year.

Jang Deokcheon, Mayor of Bucheon, said, "The Yeokgok District will provide an eco-friendly and high-quality residential space in connection with the creation of unexecuted parks," and he urged the two institutions that signed the agreement to "incorporate various smart technologies and strive to create a premium city reflecting recent housing trends."

This content was produced with the assistance of AI translation services.