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🇰🇷 South Korea /Economy & Trade

‘The era of separate land and housing agencies’ returns as LH splits after 18 years

From Chosun Ilbo · () Korean

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

At a glance

News Official statement New plan
  • The Korea Land and Housing Corporation, or LH, will divide into two public agencies under the Lee Jae-myung government’s decision.
  • One proposed agency will handle land development and housing construction, while the other will oversee housing welfare and asset reserves.
  • The split would reverse the 2009 merger of the Korea National Housing Corporation and Korea Land Corporation.

South Korea’s Korea Land and Housing Corporation, known as LH, will be divided into two agencies under a decision by the Lee Jae-myung government.

The move would reverse the 2009 merger that brought the former Korea National Housing Corporation and Korea Land Corporation together under LH. Nearly 18 years after the two bodies became one, they are set to separate again.

The government included the plan in its public-sector functional reform measures announced on September 3. A proposed Housing and Urban Development Corporation would take responsibility for land development and housing construction. A second agency would handle housing welfare and asset reserves.

About this summary

Originally published by Chosun 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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