LH Begins Construction on Four 3rd Phase New Towns This Year... Holds 'Responsible Management Pledge Ceremony'

Korea Land and Housing Corporation (LH) announced on the 28th that it has established 216 key tasks to promote core policies of the new government, including the development of the 3rd New Towns, and held a ‘Responsible Management Pledge Ceremony’ to implement them.

The 216 key tasks include ▲ commencement of the 3rd New Towns ▲ timely supply of New:Home ▲ support for redevelopment of the 1st New Towns ▲ full expansion of simplification of rental housing application documents ▲ eradication of illegal activities at construction sites, among others.

President Lee Han-jun (fourth from the left) and other LH executives are taking a commemorative photo immediately after the responsibility management pledge ceremony on the 27th. [Photo by LH]

First, by the third quarter of this year, compensation for the remaining four 3rd New Towns?Goyang Changneung, Namyangju Wangsuk and Wangsuk2, Bucheon Daejang, and Hanam Gyosan?will be completed and development construction will begin.

To this end, LH plans to sign implementation agreements within the year with local governments and local urban corporations for joint projects in five 3rd New Towns including Hanam Gyosan, and sequentially hold groundbreaking ceremonies such as the Namyangju Wangsuk and Wangsuk2 development construction groundbreaking ceremony in the second half of the year.

Additionally, LH will actively support redevelopment projects of the 1st New Towns. It will establish a cooperative foundation by signing business agreements with local governments such as Bucheon and Anyang in Gyeonggi Province. Following Seongnam City in December last year, LH signed MOUs with Goyang Special City and Gunpo City on the 21st and 26th, respectively, to actively collaborate on urban redevelopment and residential environment improvement projects for aging cities.

LH will also take the lead in eradicating illegal activities at construction sites. In February, it formed a Task Force to eradicate illegal activities at construction sites and is currently conducting a full investigation of illegal activities at construction sites. It is pursuing criminal complaints and civil lawsuits for damages against suspected illegal acts.

President Lee Han-jun said, “This pledge ceremony is a commitment to the public for LH’s performance this year,” adding, “We will do our best to actively promote the key tasks pledged by each headquarters so that the public can enjoy the results.”