LH, Groundbreaking Ceremony for Gurye Sandong Return-to-Farming and Rural Settlement Housing Complex Project

4-Year Lease Followed by Sale Conversion, Housing Move-In Target Set for September 2023

Expecting Influx of Outsiders with Creation of New Return-to-Farming and Rural Housing Complex

[Gurye=Asia Economy Honam Reporting Headquarters Reporter Yuk Miseok] Jeollanam-do Gurye-gun announced that LH (Korea Land and Housing Corporation) held a groundbreaking ceremony for the package-type return-to-farming and rural migration housing development REITs project on the 13th.

The groundbreaking ceremony was attended by about 50 people, including Kim Soon-ho, the governor of Gurye-gun, Oh Young-oh, Head of LH's Fair Management Innovation Headquarters, project stakeholders, and local residents.

The package-type return-to-farming and rural migration housing development REITs project, which Gurye-gun and LH signed an agreement to promote in 2019, is a project implemented by LH to combine the metropolitan area housing sales project and the rural return-to-farming and rural migration housing project for win-win development between the metropolitan area and local regions.

The return-to-farming and rural migration housing complex in Gurye-gun, selected as the first case of this project, is located in Oesan-ri, Sandong-myeon, Gurye-gun, Jeollanam-do, with a total project cost of about 19 billion KRW. The project site covers 25,127㎡, where a detached housing complex of 26 households with a housing exclusive area of 74㎡ will be constructed.

The county government decided to support the installation of infrastructure such as roads and water and sewage systems. Administrative procedures were completed, including obtaining approval for the land development project plan in May 2022.

In January 2023, the recruitment announcement for residents was made, and the housing is scheduled to be completed and occupied in September.

Kim Soon-ho, governor of Gurye-gun, said, "Starting with this LH housing complex, I am confident that Gurye-gun will become one of the top places nationwide where urban residents truly want to live," and added, "Going forward, Gurye-gun will implement various policies to ensure the stable settlement of urban residents."

Gurye=Asia Economy Honam Reporting Headquarters Reporter Yuk Miseok hss79@asiae.co.kr

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