LH Begins Construction of Public Rental Housing for Earthquake Victims in Pohang

Construction of 200 Households, Target Completion and Move-in by 2026

Korea Land and Housing Corporation (LH) announced on the 11th that it held a groundbreaking ceremony for the 'Pohang Heunghae Public Rental Housing' to be supplied in the Hakseong-ri area of Heunghae-eup, Pohang City.

At the groundbreaking ceremony for the Pohang Heunghae Public Rental Housing held on the 11th in Heunghae District, Pohang, Gyeongbuk, Lee Han-jun, President of Korea Land and Housing Corporation (LH) (third from the right), Kim Jeong-jae, Member of the National Assembly from the People Power Party (fourth from the right), and other event officials are conducting the ceremony.
[Photo by LH]

The Pohang Heunghae Public Rental Housing will be constructed with a total of 200 units, of which 100 units will be preferentially supplied to residents affected by the earthquake.

Convenience facilities for local residents, such as neighborhood living facilities and ancillary welfare facilities, will be built, and approximately 390 meters of new urban planning roads around the apartment will also be newly established. The total project cost is about 45 billion KRW.

The exclusive area per unit is 29㎡, 37㎡, and 46㎡, and reflecting the opinions of local residents, the number of 46㎡ units suitable for 3 to 4 people has been significantly increased.

In particular, to stabilize the housing of earthquake-affected residents, the supply volume has been greatly expanded from the original 10% to 50%, and the income and asset requirements for moving into public rental housing have also been relaxed.

The income standard (for 3 persons) has been raised from the existing 4.7 million KRW to 6.72 million KRW, and the total asset standard has also increased by more than 100 million KRW, from the existing 361 million KRW to 469 million KRW.

LH aims to recruit tenants in 2025 and complete construction and move-in by 2026.

Lee Han-jun, President of LH, said, "LH has been working with the local community from the early stages of the Pohang earthquake damage, providing emergency housing support for disaster victims," and added, "We hope that the supply of Pohang Heunghae Public Rental Housing will allow the disaster victims to build a happy daily life in their new homes."

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