LH Hosts National Urban and Housing Ideas Contest

'National Idea Contest for Pleasant Cities and Happy Housing' Poster (Provided by LH)

[Asia Economy Reporter Chunhee Lee] Korea Land and Housing Corporation (LH) is preparing a platform to gather new ideas from the public for urban and residential development.

On the 1st, LH announced that it will hold the "National Idea Contest for Pleasant Cities and Happy Housing" to discover ideas related to various LH projects such as housing, residential welfare, balanced development, and industry.

Since 2015, LH has conducted idea contests targeting internal employees to respond to external environmental changes and find new growth engines. This contest is designed to increase synergy by combining diverse ideas from the public with LH’s internal ideas.

The contest is divided into two categories: a professional proposal category, which presents concrete solutions on topics selected by LH such as housing, residential welfare, balanced development, industry, urban regeneration, and convergence; and a free proposal category, which allows participants to submit opinions without restrictions across all fields. Participants can apply in one category.

Applications can be submitted individually or as a team. Teams can have up to 2 members for the free proposal category and up to 3 members for the professional proposal category. Applicants should prepare an idea proposal by referring to the materials introduced in the announcement on the LH website and submit it via email to the LH contact person by the 18th of next month.

Afterward, a panel of internal and external experts will select a total of 16 works, including 9 free proposals and 7 professional proposals. The final results will be announced in September, and winners will receive a total prize of 35.2 million KRW.

For the selected ideas, LH plans to actively utilize them by recommending necessary policy or system improvements to the government and fostering applicable ideas as new business models within LH.

Byun Chang-hoom, President of LH, said, "This contest will greatly help us respond to changing trends and establish new public roles," adding, "We look forward to the public’s active interest and participation."