Minister Kim Yoonduk Takes Direct Charge of LH Reform

"Promoting Reform with Financial Impact in Mind"
Emphasis on Urban Supply and Balanced Regional Development

Yoonduk Kim, Minister of Land, Infrastructure and Transport (fourth from the right), is speaking at the 18th LH Reform Committee meeting held on the 12th at the Land Development Exhibition Hall in Jung-gu, Seoul. Ministry of Land, Infrastructure and Transport

Yoonduk Kim, Minister of Land, Infrastructure and Transport, attended the 18th Public-Private Joint LH Reform Committee meeting on the 12th and called for the preparation of a reform plan for LH that meets public expectations and fully takes into account the financial impact on LH.

At the committee meeting held at the Land Development Exhibition Hall in Jung-gu, Seoul, on the same day, Minister Kim stated, "The goal of LH reform is for LH to contribute to securing public interest, such as stabilizing housing for ordinary citizens."

It is unusual for the minister to directly oversee a reform committee meeting. The LH Reform Committee is a joint body involving both the Ministry of Land, Infrastructure and Transport and the private sector. The government-side chairperson was originally former First Vice Minister Lee Sangkyung, but after his resignation, Moon Seongyo, Director-General for Planning and Coordination at the Ministry, has been serving as acting chairperson. As concerns have been raised that the prolonged vacancy of the First Vice Minister position could weaken the momentum for LH reform, it is interpreted that the minister is stepping in directly to fill the leadership gap.

Regarding housing supply, Minister Kim requested, "Please discuss ways for LH’s urban supply to be positioned as a core business, on par with land development and housing construction, within the reform committee."

Minister Kim further stated, "Until now, LH has focused its development efforts on the Seoul metropolitan area to address the housing shortage," and emphasized, "LH must establish a new role for regional development, including the realization of the five economic hubs and three specialized zones, which is a key policy of the current government."

Kim Yoonduk, Minister of Land, Infrastructure and Transport (left), is greeting Lim Jaeman, Professor at Sejong University and Chairperson of the Private Sector Reform Committee, before the 18th Public-Private Joint LH Reform Committee meeting held on the 12th at the Land Development Exhibition Hall in Jung-gu, Seoul. Ministry of Land, Infrastructure and Transport

LH reform is one of the core national policy tasks of the Lee Jaemyung administration. The government is reviewing measures to enhance transparency in the public land supply process and to expand LH’s role from a simple developer to a key player in promoting balanced regional development.

Since its launch on August 28, the LH Reform Committee has been discussing concrete implementation tasks for the land supply system overhaul and direct implementation measures by LH, as outlined in the government's September 7 policy package. The committee holds meetings twice a week to refine the direction of reform and detailed action plans.

In his closing remarks, Minister Kim concluded, "I will also work together to ensure the LH reform plan is finalized as soon as possible."

This content was produced with the assistance of AI translation services.