Academia and Experts Lead LH Reform, Supported by Civil Society

Launch of the LH Reform Committee
Lim Jaeman and Lee Sangkyung Appointed as Co-Chairs

The Korea Land and Housing Corporation (LH) Reform Committee was launched on August 28. This follows President Lee Jaemyung's call for a "fundamental reform" of LH's land development business structure.

Lim Jaeman, a professor at Sejong University with extensive experience in housing policy, public housing research, and consulting, was appointed as the civilian chair. Likewise, Lee Sangkyung, the First Vice Minister of Land, Infrastructure and Transport and a former professor, will serve as co-chair. In addition, experts in fields such as housing welfare, urban planning, finance, and accounting, as well as members of civil society, will serve as civilian members of the reform committee.

Kwon Soonhyeong, director of the New Society Institute; Lee Kanghoon, attorney at Law Firm Deoksu; Nam Gieop, head of the Land Liberty Research Institute; Hwang Moonho, professor at Kyung Hee University; Nam Wonsuk, senior research fellow at the Seoul Institute; and Kwon Taekhyun, executive director at Daishin Securities, have been named as civilian members. Additionally, Moon Youngrok, vice president of Ibuki, a social housing company, and Choi Kyungho, head of the Housing Neutrality Research Institute, will also participate in the committee.

According to the Ministry of Land, Infrastructure and Transport, the committee will mainly discuss ways to restructure LH's business operations, such as land development and housing welfare. It will also address redefining LH's functions and roles to secure future growth engines. Measures to ensure financial soundness and establish a responsible management system will also be discussed.

Entrance of Korea Land and Housing Corporation Headquarters. Photo by Yonhap News

While the committee will be composed mainly of experts, it also plans to establish channels to gather public input, such as holding public idea contests and operating a citizen advisory group. There will be communication channels where the public can make direct suggestions, and the advisory group will be formed mainly from newlyweds, tenants, and other LH business beneficiaries.

In addition, a separate market and expert advisory group, consisting of industry stakeholders and specialists, will be operated. The Ministry of Land, Infrastructure and Transport explained that this aims to broadly reflect both on-the-ground feedback and expert opinions.

To support the committee's activities, an LH Reform Planning Group will be established within the ministry, and an LH Reform Implementation Group will be set up within LH itself. The planning group will coordinate and organize the committee's agenda, while the implementation group will be responsible for putting the agenda into concrete action.

Minister of Land, Infrastructure and Transport Kim Yoonduk stated, "The LH reform must be pursued in a way that allows LH to fulfill its fundamental role. We will swiftly prepare reform measures that meet public expectations and thoroughly manage on-site safety, so that we can promote public housing projects that the public can trust."

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