Accelerating Supply of 93,000 Housing Units in the Capital Area... Establishment of LH Special Headquarters

'Taeung Golf Course,' which is planned to be used as a residential site (Photo by Yonhap News)

[Asia Economy Reporter Moon Jewon] Korea Land and Housing Corporation (LH) announced on the 3rd that it will establish a dedicated organization called the 'Metropolitan Housing Supply Special Headquarters' to support the government's policy to expand housing supply in the metropolitan area.

This new organization is to ensure the smooth implementation of the housing supply plan for about 132,000 households in the metropolitan area prepared through the government's August 4th measures. LH will be responsible for supplying approximately 93,000 households, accounting for about 70%, through discovering new housing sites using military relocation sites and public participation in redevelopment and reconstruction projects.

By project, 21,000 households will be supplied through new housing site developments such as Taereung CC and the Government Gwacheon Office, 20,000 households through increased floor area ratios in the 3rd New Towns, 49,000 households through public redevelopment and reconstruction projects, and 3,000 households through the reorganization of old public rental housing and utilization of vacant spaces.

The Special Headquarters will oversee the development of 10 new housing sites led by LH and participate in all processes of public redevelopment and reconstruction, including project planning, resident consultations, candidate site selection, and permits. Considering the development of the 3rd New Towns and pre-subscription, LH plans to expand the scale and role of the Special Headquarters.

Baek Kyunghoon, head of the Special Headquarters, stated, "We will do our best, including actively consulting with related organizations, to ensure that the government's real estate policy achieves results."

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