LH to Supply 180,000 Housing Units This Year with Record 40 Trillion Won Investment in Project Costs

Korea Land and Housing Corporation (LH) will supply a record-breaking 180,000 housing units this year. The project budget amounts to 40 trillion won, the largest ever for a public institution.

According to LH on the 5th, LH's own supply volume reaches 150,000 units, including 100,000 public rental units, 26,000 public sale units, and 25,000 pre-sale units. Adding 32,000 private pre-sale units utilizing LH public land brings the total to over 180,000 units.

The project budget for this record-scale housing supply reaches approximately 40 trillion won, the largest among public institutions.

On the 4th, LH held the LH Innovation Committee meeting at the Seoul Regional Headquarters and finalized this year's work plan, including housing supply.

In particular, restoring public trust is set as the top priority this year. Additionally, LH plans to pursue 14 key tasks across three major areas: ▲ successful policy implementation ▲ strong management innovation ▲ and strengthening sustainable management.

Specifically, to ensure successful policy implementation, LH will expedite housing supply schedules for the 3rd New Towns and the 2.4 Measures, and strengthen customized housing support by expanding youth housing in urban areas. Furthermore, by expanding balanced development projects such as Campus Innovation Parks, LH aims to contribute to national housing stability and lead economic revitalization.

For strong management innovation, LH will continuously establish and reinforce anti-corruption systems by advancing design competitions and evaluation systems. It also plans to revamp ‘LH Jibeodi’ to provide a 10-year supply plan and build a customer-centered public service system.

Moreover, to strengthen sustainable management, LH will set public safety as the top operational principle and actively lead accident prevention efforts. Communication channels will be diversified to reflect public opinions in projects and overall management.

Alongside this, LH will establish an ESG management strategy and swiftly transition to an ESG management system by creating a dedicated organization to build a sustainable management system through major innovations in Environment (E), Social (S), and Governance (G).

In the environmental sector, LH will lead carbon neutrality by creating low-carbon green cities. In the social sector, it will spread social values by building an inclusive housing welfare safety net and enhancing public safety.

Especially with the enforcement of the Serious Accident Punishment Act and frequent accidents at construction sites making safety a critical issue, LH plans to significantly strengthen safety management under the principle of prioritizing public safety by establishing safety management systems, introducing smart safety equipment, and tightening sanctions on companies violating safety obligations.

In governance, which was LH’s biggest issue last year, LH will prioritize ‘fairness, transparency, and integrity’ as core values and establish governance that is significantly stronger than domestic and international guidelines, renewing management, business, and organizational culture overall.

In November last year, LH formed an ESG expert committee within the board of directors to transition to an ESG management system, and in January this year, it established an ESG Promotion Team directly under the president through organizational restructuring.

Kim Hyun-jun, LH President, said, “This year will be a crucial turning point for restoring public trust. We will not only successfully implement government housing supply expansion policies such as the 3rd New Towns and the 2.4 Measures but also make a major transition to an ESG-centered management system to become a public enterprise that the public can trust.”

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