President Lee: "LH Should Directly Develop Land... Public Rental Housing Must Be Built Near Subway Stations"

"If Public Rental Housing Is Built Near Subway Stations, Higher Deposits Can Support Public Finances"

President Lee Jaemyung has instructed that public rental housing projects should be developed in prime locations, such as areas near subway stations. He emphasized the need to fundamentally change the perception that public rental housing is "cheap" and only for people facing financial difficulties. He also directed that, rather than outsourcing land development to private companies, public institutions such as Korea Land and Housing Corporation (LH) should carry out the development themselves.

Yonhap News Agency

On December 12, during a work briefing by the Ministry of Land, Infrastructure and Transport and its affiliated public institutions held at the Sejong Convention Center, President Lee stated, "If you look at examples supplied by LH and others, general sale housing is built in the best locations, while public rental housing is concentrated in undesirable, remote corners." He made these remarks in this context.

He further explained, "When people think of public rental housing, they inevitably imagine places where low-income or struggling individuals are clustered together. This is why people do not favor public rental housing."

President Lee pointed out that building public rental housing near subway stations would allow for higher deposit payments, thereby preventing financial losses. He also stressed that public institutions such as LH should directly carry out land development.

President Lee said, "Build public rental housing near subway stations, and make the units spacious-about 82 to 99 square meters-so that even middle-class families can live there. If you build them at an appropriate size, you will be able to secure higher rental deposits." He added, "This is a way to prevent financial losses." He reiterated, "In the Seoul metropolitan area, there is intense competition among private companies for bids. Good locations must be developed directly by public institutions."