LH to Place 19.6 Trillion Won in Construction and Service Orders This Year... 8 Trillion Won Focused on Public Housing

Order Volume Increased by 500 Billion Won from Initial Plan
11.4 Trillion Won in Orders Scheduled for Second Half
73% to Be Executed Early by Next Month

Korea Land and Housing Corporation (LH) announced on August 17 that it has finalized this year's construction and service order volume at 19.6 trillion won. This is an increase of 500 billion won compared to the initial plan for the year. It is also more than 1.4 trillion won higher than last year's plan of 18.2 trillion won.

Kim Jaekyung, Head of LH's Management Division, stated, "We have increased the order plan compared to last year to help revive the sluggish construction market and stabilize housing supply," adding, "We will meticulously manage monthly and quarterly schedules to ensure smooth implementation."

LH Construction Service Order Plan for the Second Half of This Year. Provided by LH

LH will place orders totaling 11.4 trillion won in just the second half of this year. Of this amount, 8 trillion won, or 70%, will be invested in the public housing construction sector.

The timing of order placements will also be advanced. Out of the total volume for the second half, 8.3 trillion won, or 73%, will be executed early by next month.

The main project sites are concentrated in the Seoul metropolitan area. 472.6 billion won will be invested in the construction of apartments in Goyang Changneung S-3 and S-4 blocks, 276.3 billion won in the development of Namyangju Wangsuk Zone 4, and 212.1 billion won in the construction of apartments in Incheon Gyeyang A10 block.

By order type, the construction sector accounts for 10.4 trillion won, while the service sector amounts to 1 trillion won.

LH Construction Cost Ratio by Order Type for the Second Half of This Year. Provided by LH

For the construction sector, the breakdown is as follows: 7.1 trillion won (67 projects) under the Comprehensive Evaluation Bidding System, 1.1 trillion won (54 projects) under the Simplified Comprehensive Evaluation System, 1.2 trillion won (234 projects) under the Eligibility Evaluation System, and 1 trillion won (10 projects) in other categories.

For the service sector, the Comprehensive Evaluation accounts for 700 billion won (65 projects), the Eligibility Evaluation for 200 billion won (219 projects), and other categories for 72 billion won (44 projects).

The Comprehensive Evaluation Bidding System refers to a system where not only construction costs but also technological capability and safety management are evaluated to select contractors. It is applied to construction projects with an estimated cost of 30 billion won or more.

Detailed order information will be available from August 18 on the LH website's electronic procurement system.