Kim Hyun-jun, LH President, Inspects Pre-Subscription Site "Timely Promotion Centered on 3rd New Towns"

President Kim Hyun-jun Inspects 3rd New Town Project at Goyang Changneung Site
Permits and Approvals Proceeding Normally... 2nd to 4th Pre-Subscription in Q4 Also Expected to Go Smoothly
"3rd New Towns Are the Frontline for Metropolitan Supply, a Reasonable Alternative for Homeownership"

Kim Hyun-jun, President of LH, is visiting the Goyang Changneung New Town site on the 18th to check the progress of the 3rd New Town project. / Provided by LH.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced that President Kim Hyun-joon visited the Goyang Changneung New Town site on the 18th to inspect the progress of the 3rd New Town project.

On this day, President Kim urged the field staff to complete the district plan approval and start compensation for the five 3rd New Towns (Incheon Gyeyang, Namyangju Wangsuk, Hanam Gyosan, Goyang Changneung, Bucheon Daejang) within the year through active consultations with related organizations and residents.

Following the first phase in Incheon Gyeyang, the 2nd to 4th pre-subscription scheduled from October to December will include Namyangju Wangsuk·Wangsuk2, Hanam Gyosan, Goyang Changneung, Bucheon Daejang, and Incheon Gyeyang, so pre-subscriptions will be conducted in all five 3rd New Towns within this year. As a result of the first pre-subscription, the 84㎡ type in Incheon Gyeyang showed a high competition rate of 381.1 to 1.

The total planned supply for the 2nd to 4th pre-subscription of the 3rd New Towns is about 8,600 households. Specifically, in the 2nd phase (October), 1,400 households will be supplied in Namyangju Wangsuk2; in the 3rd phase (November), 1,000 households in Hanam Gyosan; and in the final 4th phase (December), 2,300 households in Namyangju Wangsuk, 1,900 households in Bucheon Daejang, 1,700 households in Goyang Changneung, and 300 households in Incheon Gyeyang, totaling 6,200 households.

President Kim also emphasized that since the 3rd New Towns serve as a forward base for housing supply in the metropolitan area, it is crucial to adhere to the planned schedule and supply quality housing in a timely manner. LH is intensifying efforts by reinforcing about 60 headquarters personnel to focus on the 3rd New Towns and the 2nd and 4th measures site-dedicated teams, where pre-subscription, compensation, and permit consultations are actively underway.

In addition, he inspected the progress of permits and compensation, including the pre-subscription target complexes. The Hanam Gyosan and Incheon Gyeyang New Towns started compensation at the end of last year and have currently completed 80% and 60% of negotiated compensation, respectively. Namyangju Wangsuk·Wangsuk2, Goyang Changneung, and Bucheon Daejang have completed compensation announcements and plan to start compensation within the year without delay after appraisal evaluations.

President Kim stated, "In response to the high expectations and interest shown by newlyweds and low-income households without homes in the first pre-subscription, let us do our best to make the 3rd New Towns a reasonable alternative for home ownership by adhering to the project schedule and reorganizing the subscription system."

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