"Youth Cost-Price Housing and Yeoksekwon First Home Quickly Realized"… LH Holds First Policy Meeting

LH held its first policy meeting under the acting president system on the 23rd to prepare policy support measures for the government's "National Housing Stability Implementation Plan (August 16 Measures)."

Korea Land and Housing Corporation (LH) announced on the 24th that it held its first policy meeting chaired by Acting President Lee Jeong-gwan, attended by executives and heads of related departments, to ensure the smooth implementation of the '8·16 Measures,' which aim to supply 2.7 million housing units.

At this meeting, LH focused on discussing implementation plans to supply high-quality housing (500,000 units) in prime urban locations, including key government national tasks such as youth cost-price housing and first homes near transit stations.

To facilitate the pre-subscription of approximately 3,000 youth cost-price housing units within the year, LH plans to secure excellent locations such as the 3rd New Towns, promptly establish supply standards, and develop subscription systems to support government policies.

Efforts to increase housing supply within urban areas will also be accelerated. For seven urban complex projects (10,000 units), including Bucheon Wonmi, designated last year, follow-up procedures such as basic design will be carried out without delay. Public redevelopment projects, which have been concentrated in the metropolitan area, will also be expanded to local regions with challenging project conditions.

Additionally, LH explored ways to improve housing quality centered on consumer needs, such as resolving noise issues between floors and expanding rental housing sizes, as well as support measures for vulnerable housing groups.

In particular, LH decided to promptly advance housing support for vulnerable groups by upgrading housing for residents living in underground floors of purchased rental housing vulnerable to disasters and preparing relocation support plans for residents of non-housing facilities such as jjokbangchon (tiny room villages) and gosiwon (small dormitories).

Furthermore, LH will actively prepare measures to improve living conditions, including metropolitan transportation improvement plans and residential environment enhancements.

They will conduct a comprehensive survey of metropolitan transportation routes in the 2nd New Towns and establish support measures, while transportation facilities in the 3rd New Towns will be expanded early in line with residents' move-in schedules to avoid inconvenience.

Alongside this, efforts to improve living conditions will continue, such as enhancing educational environments by securing safe school routes and strengthening incentives for corporate attraction by designating part of the 3rd New Towns' self-sufficient facility sites as urban high-tech industrial complexes.

LH plans to prepare detailed implementation roadmaps for each project according to the government's follow-up measures and actively support government policies through regular inspections.

Meanwhile, at this meeting, LH also discussed implementation plans for the government's intensive reforms targeting public institutions, including measures to eradicate corruption, establish public service discipline, and strengthen financial soundness through debt reduction. Since the retirement of President Kim Hyun-jun on the 16th, LH has been operating under an acting president system.