"Strengthening the Identity of a Development-Focused Public Institution"... SH Corporation Relaunches as 'Seoul Housing and Communities Corporation' (Comprehensive)

First Name Change in Nine Years
Vision and Mission Initiatives Announced
SH Abbreviation to Remain in Use

Seoul Housing Corporation (SH Corporation) has announced its ambition to strengthen its identity as a development-focused public institution by changing its name to Seoul Housing and Communities Corporation (SH). This marks the first name change in nine years since the official corporate name was changed to Korean.

On July 11, SH held the "Seoul Housing and Communities Corporation Inauguration and Vision Proclamation Ceremony" at the main auditorium of its headquarters in Gangnam-gu, Seoul.

Hwang Sangha, President of SH, stated, "The new name is more than a simple change of title; it is a meaningful decision to clarify the corporation's role and identity in improving the residential welfare of Seoul citizens and enhancing the city's competitiveness." He added, "We aim to further strengthen our responsibilities and functions as a public institution specializing in urban development."

Seoul Mayor Oh Sehoon (center right) and Hwang Sangha, President of Seoul Housing and Communities Corporation, are taking a commemorative photo with attendees at the inauguration and vision proclamation ceremony of the Seoul Housing and Communities Corporation held on the 11th at the Seoul Housing and Communities Corporation in Gangnam-gu, Seoul. Photo by Yonhap News

Strengthening the Identity of a Development-Focused Public Institution... Declaration of Attractive Future City Initiatives

On this day, SH presented its new mission: "Enhancing citizens' welfare," "Ensuring residential stability," and "Contributing to regional economic development." Its new vision is to become "an urban public enterprise specializing in creating an attractive city of Seoul where citizens are happy." The goal is to emerge as a key public corporation that contributes to balanced development, improves the quality of life for citizens, and enhances Seoul's brand value.

SH also unveiled its strategy to transform Seoul into an attractive future city. Four major strategies were presented: Core Corridor City (three-dimensional vertical city), Edge City, Infra Green System, and River Centric City.

Hwang Sangha, president of Seoul Housing and Communities Corporation, is delivering a greeting at the inauguration and vision proclamation ceremony of Seoul Housing and Communities Corporation held at Seoul Housing and Communities Corporation in Gangnam-gu, Seoul on the 11th. Photo by Yonhap News

President Hwang stated, "We will create three-dimensional vertical cities that develop transportation facilities and surrounding areas simultaneously, such as the Yongsan International District." He emphasized, "In the Seoripul District, we will apply a strategy to restructure sites by securing damaged greenbelt areas and available land." He continued, "As part of the Infra Green System, we will strategically relocate infrastructure facilities to newly create spaces," and added, "Through projects connecting Han River buses and a giant Ferris wheel, we will pursue the 'River Centric City' initiative to create new urban spaces centered around the Han River."

Seoul Mayor Oh Sehoon, Seoul Metropolitan Council Vice Chairman Lee Jonghwan, and others attended the inauguration ceremony to celebrate SH's new beginning. Mayor Oh highlighted that SH plays a pivotal role at the forefront of housing supply in Seoul.

Mayor Oh said, "I hope SH will continue to provide stable public housing supply without wavering," and urged, "This year, we aim to supply 3,500 units of Mirinae House, and from next year, 4,000 units annually. I look forward to SH realizing the dream of homeownership for newlyweds in Seoul, allowing them to live with lifelong peace of mind."

'Development' Added to the Corporate Name... First Name Change in Nine Years

This name change was initiated to improve the residential welfare of Seoul citizens and to reestablish itself as a development-focused public institution with global competitiveness. Mayor Oh also believed that the previous name did not fully reflect the corporation's identity as it undertakes both residential welfare and various development projects.

However, even with the change in the corporate name, the existing abbreviation "SH" will continue to be used. In consideration of the brand recognition built over a long period, both the new name and the existing abbreviation will be used together in communication with citizens and for promotional purposes.

Seoul Mayor Oh Sehun is delivering a greeting at the launch ceremony and vision proclamation ceremony of Seoul Housing and Communities Corporation held at Seoul Housing and Communities Corporation in Gangnam-gu, Seoul on the 11th. Photo by Yonhap News

SH was founded in 1989 as the "Seoul Metropolitan City Urban Development Corporation." During the tenure of former President Lee Myungbak as Seoul Mayor in 2004, the English name "SH Corporation" was adopted. In 2016, during the late Mayor Park Wonsoon's term, "Seoul Housing Corporation" was added to the name and used alongside SH Corporation, citing pronunciation difficulties and the lack of vision in the previous name.

SH's major projects include the supply of "Mirinae House" (Long-term Jeonse Housing II), a core housing policy of Mayor Oh, and the Great Han River Project, which is the 2.0 version of the Han River Renaissance Project (2007). In addition, SH has served as the developer for projects such as the Godeok Biz Valley and is currently executing projects like the Yongsan International Business District development promoted by the city.

President Hwang stated, "With this name change, we will actively pursue various development projects to ensure residential stability for citizens and strengthen Seoul's urban competitiveness."