Kim Hyun-jun, LH President, "Efforts to Secure Resident Consent Rates for Pilot Project Sites"

LH Holds 2nd 2.4 Plan Review Meeting on 28th Led by President Kim Hyun-joon
Regular Monitoring of Policy Implementation Through 2.4 Plan Review Meetings
Efforts to Realize Projects by Securing Resident Consent Rates and Improving Profitability in Pilot Sites

Kim Hyun-jun, President of LH, is urging employees on the 28th to ensure the smooth implementation of the 2.4 Plan. / Provided by LH.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 28th that it held the 2nd 2.4 Plan Inspection Meeting at the LH Gyeonggi Regional Headquarters, focusing on revitalizing housing supply policies and commercialization measures.

At this meeting, discussions were concentrated on △ the progress of leading project candidate sites △ issues and improvement measures in project implementation △ securing supply volume △ 2021 project implementation goals and project realization plans, and the project objectives were shared company-wide.

First, the ‘Urban Public Housing Complex Project’ is the main project with the largest supply volume of a total of 196,000 units under the 2.4 Plan. So far, a total of 46 candidate sites for leading projects, amounting to 60,000 units, have been announced over four rounds. LH aims to designate the planned districts of the candidate sites by August and is holding project briefing sessions for the candidate sites to secure the required 10% resident consent rate for designation proposals and is currently preparing project plans.

Currently, candidate sites with more than 10% resident consent include 12 locations such as Ssangmun Station (East-West), and the Jeungsan 4 District in Eunpyeong-gu, Seoul, and Susaek 14 District have secured consent from more than two-thirds of residents, meeting the district designation requirements. In particular, ‘Jeungsan 4 District’ was a ‘Redevelopment Promotion District Deregulated Area (2019)’ and, after being selected as a leading project candidate site at the end of March, it became the first candidate site to secure district designation requirements by obtaining consent from more than two-thirds of landowners within about seven weeks. LH President Kim Hyun-joon personally visited Jeungsan 4 District on the 20th to express gratitude to residents and reaffirm the government’s commitment to swift project implementation.

The supply volume for the ‘Public Maintenance Project’ totals 136,000 units, with candidate sites announced for a total supply scale of 27,000 units including △ 28 public redevelopment sites (26,000 units) and △ 5 public reconstruction sites (2,000 units). LH is conducting resident briefing sessions for the designation of implementers and establishment of maintenance plans for △ 12 public redevelopment sites (15,000 units) and △ 2 public reconstruction sites (800 units), and is providing pre-consulting for public direct implementation maintenance projects.

Additionally, the ‘Small-scale Maintenance Project’ aims to supply a total of 110,000 units. The government announced 20 candidate sites for small-scale management areas totaling 17,000 units on the 29th of last month. LH plans to support local governments in establishing management plans together with the Ministry of Land, Infrastructure and Transport to ensure that the announced candidate sites can be designated as small-scale management areas within the year.

Also, LH is currently conducting a public contest for the ‘LH Participatory Street and Autonomous Housing Maintenance Project,’ in which LH participates as a joint project implementer together with residents, and plans to select joint implementation project districts in the second half of this year.

The supply volume for the ‘Urban Regeneration and Residential Regeneration Innovation Project’ is a total of 30,000 units. The government announced seven leading residential regeneration innovation project sites totaling 3,700 units on April 29. Accordingly, LH plans to prepare project plans for the leading project candidate sites in June and listen to the opinions of local residents. For all announced leading project sites, LH plans to proceed with district designation within the year after obtaining consent from more than two-thirds of residents.

The ‘New Construction Purchase and Non-residential Remodeling Project’ aims to supply 101,000 housing units. LH has completed the purchase announcement procedures and has signed agreements for about 1,600 units in the metropolitan area for new construction purchases. The non-residential remodeling project aims to sign agreements for 6,000 units this year (1,000 units under the 2.4 Plan and 5,000 units under the Jeonse Plan).

President Kim emphasized at the inspection meeting, “Interest from residents and local governments is increasing regarding the leading candidate sites for urban projects. We must focus our capabilities to fully reflect the opinions of property owners so that projects such as district designation can be realized promptly within the year,” and added, “This is the time to do our best to restore public trust through the flawless execution of the 2.4 housing supply policy and fulfilling our fundamental role as a housing supply agency.”

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