LH Holds Meeting with Korea Construction Association to Foster Fair Construction Environment

Attendance of LH President Kim Hyun-jun and Korea Construction Association Chairman Kim Sang-soo on the 9th
Commitment to cooperation for resolving construction industry difficulties and creating a fair construction environment

Kim Hyun-jun, President of LH (left), and Kim Sang-su, Chairman of the Korea Construction Association, are taking a commemorative photo at the "LH-Korea Construction Association Win-Win Cooperation Meeting for Creating a Fair Construction Environment" held on the 9th.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) and the Korea Construction Association have agreed to cooperate in creating a fair construction environment.

On the 9th, LH announced that it held the "LH-Korea Construction Association Win-Win Cooperation Meeting for Creating a Fair Construction Environment" at the Construction Hall in Gangnam-gu, Seoul, attended by LH President Kim Hyun-jun and Korea Construction Association Chairman Kim Sang-soo, among others.

The "LH-Korea Construction Association Win-Win Cooperation Meeting" has been ongoing since 2018 to share difficulties faced by the construction industry, improve unfair practices, and contribute to job creation and economic recovery through revitalizing the construction industry.

At this meeting, the Korea Construction Association presented requests including △realistic adjustment of indirect labor cost ratios, △relaxation of technical staff deployment standards for building construction, △minimization of main contractor joint subcontracting orders, △minimization of competitive supply methods when supplying residential land, and △realistic adjustment of standard construction costs.

Chairman Kim requested, "Please actively review and reflect the difficulties faced by the construction industry, such as appropriate payment of construction costs, to ensure mutual growth, safety, and quality for all construction participants."

In response, LH stated, "Within the scope of ensuring quality and safety, we will internally improve or actively consult with the government and others to reflect the construction industry's requests."

Specifically, LH announced plans to △calculate appropriate indirect labor costs, △maintain a certain ratio of residential land lottery system to protect small and medium-sized enterprises, and △propose to the Ministry of Land, Infrastructure and Transport the realistic adjustment of standard construction costs frozen since 2016.

President Kim said, "We empathize with the difficulties faced by the construction industry, exacerbated by COVID-19, and will strive to accept the requests through system improvements," adding, "We will cooperate to create a fair construction environment based on mutual trust and will thoroughly review the Korea Construction Association's requests in consultation with the Ministry of Land, Infrastructure and Transport."

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