LH President Lee Sung-hoon Orders Acceleration of Seoripul District Housing Project, Targeting 2028 Start

Lee Sung-hoon, the president of the Korea Land and Housing Corporation (LH), visited Seoul's Seoripul district to assess the ongoing housing development project. During his visit, he instructed the acceleration of construction, pushing the commencement date forward to 2028, over a year earlier than the original schedule.

The Seoripul district is a key area targeted for expanding housing supply in Seoul, with plans to develop up to 20,000 units across two phases. LH intends to submit the district plan for Phase 1 this month, seeking approval in the first half of next year, followed by compensation procedures in the latter half, leading to the 2028 construction start. The corporation has established a consultative body to address resident opposition and ongoing discussions regarding compensation and relocation issues.

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My first site visit since taking office was to the Seoripul district to examine ways to expedite the project. This is because swiftly supplying housing in areas with high demand is a crucial task for achieving real estate market stability.

President Lee, who took office on July 6th, emphasized the urgency of supplying housing in high-demand areas to stabilize the real estate market. "My first site visit since taking office was to the Seoripul district to examine ways to expedite the project," Lee stated. "This is because swiftly supplying housing in areas with high demand is a crucial task for achieving real estate market stability."

He further pledged, "We will pour all our available resources into housing supply so that low-income families, youth, and newlyweds can reside stably in the Seoul metropolitan area." The project aims to provide much-needed housing options for vulnerable populations and contribute to the overall stability of the Seoul housing market.

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We will pour all our available resources into housing supply so that low-income families, youth, and newlyweds can reside stably in the Seoul metropolitan area.