LH to Sell Office Site Lands in Bundang, Gwangmyeong, and Hanam

Korea Land and Housing Corporation (LH) announced on the 18th that it will sell three office site properties in the Seoul metropolitan area in accordance with public institution innovation guidelines.

The properties for sale are the Southern Gyeonggi Regional Headquarters (Gumi-dong, Bundang-gu), Gwangmyeong-Siheung Project Headquarters (Iljik-dong, Gwangmyeong-si), and Hanam Project Headquarters (Pungsan-dong, Hanam-si).

Exterior view of the LH headquarters building. [Photo by LH]

The Southern Gyeonggi Regional Headquarters building (Ori Building) is currently open for bidding. It is the existing headquarters building located in the metropolitan area that LH acquired following the 2009 institutional integration and relocation to local areas. The site area is 37,990㎡, the total floor area is 72,010㎡, with the main building consisting of 2 basement floors to 8 above-ground floors, and the annex consisting of 2 basement floors to 4 above-ground floors. The sale was attempted last October but failed. The expected sale price is 580.1 billion KRW, and the bid deadline is the 23rd of this month.

The site in Iljik-dong, Gwangmyeong-si, used as the Gwangmyeong-Siheung Project Headquarters building, consists of three parcels zoned for general commercial use. Permitted uses include retail, office, cultural and assembly, and lodging facilities, with a floor area ratio of 700%. The planned supply price ranges from 25.4 billion to 49.8 billion KRW per parcel. The bidding was announced on the 17th, with contracts scheduled for September. After the balance payment in December, land use will be permitted two years later.

Located within the Gwangmyeong Station area, the site is adjacent to large shopping malls such as IKEA, Lotte Outlet, Costco, and Chung-Ang University Hospital. Additionally, the surrounding area has developed as a commercial district with knowledge industry centers and office facilities.

The Hanam Project Headquarters site in Pungsan-dong, Hanam-si, consists of two parcels zoned for office facilities. Permitted uses include general office facilities including officetels (as per Enforcement Decree of the Building Act, Appendix 1, Article 14, Item 2), type 1 and 2 neighborhood living facilities (excluding some facilities), and cultural and assembly facilities.

Appraisal and bidding announcements are scheduled for September (bidding announcement expected on September 11), with contract signing planned for October. The land use period begins two years after the balance payment agreement date. The site is connected to major transportation networks such as the Seoul Metropolitan Area 1st Ring Expressway Sangil IC and Olympic-daero, and is directly adjacent to Seoul, offering an excellent location. It is equipped with abundant infrastructure including large retail facilities like Starfield Hanam and Costco, as well as a residential environment harmonized with the Han River.

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