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LH accelerates compensation for public housing sites with 344 additional staff
🇰🇷 South Korea /Economy & Trade

LH accelerates compensation for public housing sites with 344 additional staff

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • Korea Land and Housing Corp. will add 344 staff to accelerate land compensation for major public housing projects, including third-generation new towns.
  • LH plans to cut the compensation period from 44 months to 24 months through staff redeployment, new hiring and parallel procedures.
  • A subsidy encouraging landowners to cooperate with public housing development is scheduled to begin in the first half of next year.

The Korea Land and Housing Corp. is putting 344 more people into land compensation work across the Seoul metropolitan area as it seeks to move up the start of housing construction.

The additional staff will raise the workforce assigned to major housing supply sites from 503 to more than 800. LH plans to draw on experienced employees from its headquarters and outside the capital region, while hiring 250 compensation specialists this month.

The agency will also establish an early-compensation support unit at its headquarters, staffed by employees with expertise in compensation. It aims to run parts of the process in parallel and reduce the period from district designation to the start of site development from 44 months to 24 months.

A cooperation incentive program will also begin in the first half of next year. Under the scheme, landowners who cooperate with public housing district development will receive an incentive payment.

About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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