LH to Develop Seoul HQ Site into Public Housing for Youth

Lee Seong-hoon, president of the Korea Land and Housing Corporation (LH), announced plans to utilize the corporation's Seoul headquarters site in Nonhyeon-dong, Gangnam District, for the supply of public housing, particularly targeting young people and the vulnerable.

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We will concentrate all our capabilities to expedite housing supply in public housing sites and urban areas.

During his first press conference since taking office, held in Jongno, Seoul, Lee stated, "We will concentrate all our capabilities to expedite housing supply in public housing sites and urban areas." The Nonhyeon-dong site, which has served as LH's Seoul Regional Headquarters since 1997 after the main office moved to Bundang, has a land area of 6,588 square meters and a building floor area of 8,601.1 square meters. It is located near Gangnam-gu Office Station and Seonjeongneung Station. If the current zoning, classified as a Class 2 general residential area, is upgraded, it is estimated that 300 to 400 units of small and medium-sized public housing could be supplied. "We have decided to provide the LH Seoul Regional Headquarters, with its 52-year history, as housing space for the public and youth," Lee said, adding that specific supply types and unit numbers require consultation with the government.

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We have decided to provide the LH Seoul Regional Headquarters, with its 52-year history, as housing space for the public and youth.

To accelerate housing supply, Lee also revealed plans to reorganize the work system by significantly expanding compensation personnel and parallelizing project procedures. "Previously, we would start stage B only after stage A was completed, but now we plan to parallelize stages A, B, and C, doing what can be done first," he explained. The corporation is also proposing necessary institutional improvements to the government. To shorten the compensation process, which typically takes the longest time before construction begins, LH plans to hire a large number of temporary staff dedicated to compensation work and prioritize experienced individuals. To incentivize these temporary workers, LH is considering offering salaries higher than those for permanent employees.

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Previously, we would start stage B only after stage A was completed, but now we plan to parallelize stages A, B, and C, doing what can be done first.

Regarding LH reforms, Lee emphasized the importance of maintaining employee morale to speed up housing supply. "Since the 2021 LH employee speculation incident, morale has been very low," he admitted. "We will strive to ensure that the speed of supply does not slow down due to low employee morale, regardless of any innovation plans announced." The government's comprehensive LH reform plan is expected to be released around September.

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Since the 2021 LH employee speculation incident, morale has been very low. We will strive to ensure that the speed of supply does not slow down due to low employee morale, regardless of any innovation plans announced.