LH Creates Forum for Discussion to Solve Urban Issues Through Gongyu

Korea Land and Housing Corporation (LH) held a "Symposium for Establishing an Urban Commons-type Business Model" on the 4th at the LH Ori Building. (Provided by LH)

[Asia Economy Reporter Chunhee Lee] Korea Land and Housing Corporation (LH) announced on the 5th that it held a symposium on the 4th to create future cities as spaces of 'opportunity and inclusion' through the utilization of shared resources.

In cities developed through conventional business methods, issues such as land and housing turning into speculative assets after completion, displacement within neighborhoods (gentrification), and the breakdown of local communities have been continuously pointed out. In particular, the recent spread of the novel coronavirus disease (COVID-19) has had a greater impact on socially vulnerable groups, raising concerns about regional service inequalities caused by polarization within cities.

To address these issues, LH launched a study in April titled ‘Urban Commons-type Business Model and Implementation Strategy Establishment Research’ aimed at utilizing shared resources with the goal of creating a ‘City for All.’

This study was prepared to analyze and reinterpret LH’s existing projects from the perspectives of sharing and openness, expand shared resources, and discover future business models that can realize this. The symposium was organized to report the commencement of the study and to incorporate opinions from experts across various fields.

At the symposium, Myung-sik Choi, a senior researcher at the Korea Research Institute for Human Settlements, presented on ‘Activation Measures for Social Real Estate for Inclusive Cities,’ followed by Professor Baekyun Park of Seoul National University reporting on the ‘Urban Commons-type Business Model and Implementation Strategy Establishment Research Launch.’

In the subsequent discussion, participants included ▲ Hyoyeol Park, Director of LH Regional Balanced Regeneration Department ▲ Hongju Kim, Senior Researcher at LHI ▲ Yongchang Kim, Professor at Seoul National University ▲ Sangheon Lee, Professor at Hanshin University ▲ Hyunju Jung, Professor at Seoul National University ▲ Jaejun Lee, Professor at Sungkyunkwan University ▲ Sangwook Ahn, Chairman of Suwon City Sustainable Foundation ▲ Honggil Kim, Head of Seoul City Shared City Team ▲ Dongsu Yang, CEO of social innovation company The Ham, who shared diverse opinions.

LH plans to reflect the opinions discussed at this symposium to establish field-based models that can alleviate urban problems with unique solutions tailored to the characteristics of each region.

Byun Changheum, President of LH, said, "Today’s symposium is closely related to the Human New Deal, one of the Korean New Deal initiatives announced by the government," adding, "Beyond providing physical public spaces, LH will take a leading role in creating a people-centered city that supplies customized housing welfare services throughout the life cycle and ensures that the benefits are evenly distributed to urban residents regardless of region or income."