"SH Gongsa Should Also Participate in New Residential Site Development in the Seoul Metropolitan Area"…Request to the Government

"Will Help Achieve Government Policy Timely"

Seoul Housing and Communities Corporation (SH Corporation) has requested the government to allow its participation in new residential site development projects in the Seoul metropolitan area.

On the 24th, SH Corporation sent an official letter to the Office for Government Policy Coordination and the Ministry of Economy and Finance, requesting consideration for the corporation’s involvement in various policy projects, including new residential site development in the metropolitan area, the corporation announced on the 25th.

SH Corporation stated, “If large-scale projects such as the 3rd New Towns and new residential sites in the metropolitan area continue to be concentrated in central public enterprises as before, it will be difficult to respond effectively when issues arise during project implementation. Additionally, considering the burden of entrusting further large-scale development projects to entities that have already shown limitations during the 3rd New Towns’ development process, this should be taken into account.” They added, “With 36 years of stable experience in land and housing development projects in Seoul, SH Corporation’s participation in new residential site development would greatly help achieve the government’s policy goals in a timely manner.”

SH Corporation is continuously requesting cooperation from the Ministry of Land, Infrastructure and Transport and others to allow its participation in developing existing 3rd New Towns such as Gwangmyeong-Siheung, Gwacheon-Gwacheon, Namyangju-Wangsuk 2, Hanam-Gyosan, and the newly announced public housing district, Guri-Topyeong 2 district, announced last November.

Kim Heon-dong, President of SH Corporation, said, “As this is a period when private development and investment capacity is shrinking, SH Corporation’s participation in development is necessary,” and added, “To swiftly implement policies such as 1 million public housing units by the government, 500,000 units under New:Home, and 200,000 half-price apartments in Gyeonggi Province, we request the central government’s active consideration and cooperation to allow SH Corporation to participate in new residential site development projects in the metropolitan area.”

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