Balanced Regional Development Stressed as Top Priority
Fundamental System Innovation Over Past Corruption Issues
LH Reform Committee to Review Core Business Structure from Scratch
Public Asset Principles and Housing Stability Measures Emphasized
Minister of Land, Infrastructure and Transport Kim Yoonduk stated at the Korea Land and Housing Corporation (LH) Reform Committee Launch Ceremony on the 28th, "The most important thing I consider is balanced regional development."
Minister Kim said, "If public attention to LH reforms in the past was due to employee corruption, this time the focus should be on fundamentally innovating the system, not on such issues." Balanced national development has been a key agenda item for President Lee Jaemyung since his candidacy and remains one of the core tasks of the new government's National Policy Planning Committee.
This LH Reform Committee was launched in response to concerns over public institution core businesses such as land sales. To actively incorporate external expert opinions, it was organized as a joint private-public committee. Minister Kim's request was for the reform efforts to be connected with balanced regional development as solutions are sought.
Kim Yoonduk, Minister of Land, Infrastructure and Transport, is delivering a greeting at the 'LH Reform Committee Launch Ceremony' held on the 28th at Kensington Hotel in Yeongdeungpo-gu, Seoul. Photo by Yonhap News
Minister Kim added, "While the population is overly concentrated in the Seoul metropolitan area, local communities are continuously losing vitality. I hope that, before it is too late, LH will engage in deep discussions about what role it can play in regional development."
He also called for a review of the current public housing supply methods and business structure. Minister Kim said, "We must reestablish the principle that the people's land should be used for the people," and emphasized, "LH's assets are public assets for ensuring stable housing for low- and middle-income citizens." He requested that the committee consider housing stability measures that the public can truly feel, as housing market instability has repeatedly surfaced despite various stabilization efforts by previous governments.
Additionally, he highlighted the importance of LH's financial and managerial health, as well as the need for rigorous on-site safety management, given LH's status as the largest public institution ordering organization. Minister Kim said, "Although LH reform has been an issue in the past, it eventually faded away and was forgotten. This time, I hope we will gather the determination to implement and resolve the reform tasks, and quickly complete a reform plan that meets public expectations."
Minister of Land, Infrastructure and Transport Yoonduk Kim (left) is taking a commemorative photo with Professor Jaeman Lim of Sejong University, who serves as the private co-chairman, at the "LH Reform Committee Launch Ceremony" held on the 28th at the Kensington Hotel in Yeongdeungpo-gu, Seoul. Photo by Yonhap News
Professor Jaeman Lim of Sejong University, who serves as the joint private co-chairman alongside Vice Minister of Land, Infrastructure and Transport Lee Sangkyung, said, "We will strive to gather the wisdom of the committee members to return the people's land to the people, to ensure it can be used by the public once again, and to secure stable housing for all citizens by preparing strong reform proposals."
The LH Reform Committee plans to review all aspects of LH's business, including land sales, from the ground up. As President Lee Jaemyung has repeatedly emphasized 'fundamental reform,' sweeping changes such as organizational separation or mergers may be considered. Experts from various fields and academia, as well as civil society representatives appointed as private committee members, have consistently argued for a wide range of LH reforms.
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