LH and construction association discuss faster public housing; 50,000-unit start goal
In short
Korea Land and Housing Corporation (LH) met the Construction Association of Korea in Seoul on 22 October to discuss public-private cooperation on faster housing supply. LH is aiming to start construction of 50,000 public housing units by the end of this year. It has bundled 13 blocks (4,744 units) into six orders, with a December start targeted.
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Korea Land and Housing Corporation (한국토지주택공사, LH) held a housing supply meeting with the Construction Association of Korea (대한건설협회) on 22 October at Construction Hall in Gangnam District, Seoul. LH said the two sides discussed ways to strengthen public-private cooperation for faster housing supply. LH is aiming to start construction of 50,000 public housing units by the end of this year. [ 1 , 2 , 3 , 4 ]
According to Chosun Ilbo, Newsis and Yonhap, the agenda covered faster supply of public housing, technical cooperation on the quality and differentiation of universal public rental housing, and ways to boost supply through private-participation projects and the use of mixed-use sites. [ 1 , 3 , 4 ]
LH President Lee Seong-hoon (이성훈) said LH wanted to combine the construction industry's on-site experience and technical capability with its own project drive to add momentum to housing supply. Association chairman Han Seung-gu (한승구) said that raising the speed and efficiency of supply would require the public and private sectors to work more closely than before, and that the industry would cooperate actively through thorough quality control and safe construction. [ 1 , 3 ]
Chosun Ilbo reported that the meeting followed an August meeting between LH and housing and construction associations. It said the meeting was held to support the government's "Housing Stability Plan (9.22)". It also listed attendees including the association's standing vice chairman, the chief executive of DL E&C and the chief executive of 錦湖建設. [ 1 ]
The day before, on 21 October, LH held a review meeting at its Gyeonggi South regional headquarters on the progress of districts due to start construction this year and on responses to open issues. Chosun Ilbo said about 50 people attended. LH said it intends to identify and resolve causes of delay in each district ahead of time to reach the 50,000-unit target. [ 1 , 3 ]
As part of the effort, LH has bundled construction of 13 blocks with 4,744 public housing units, including Bucheon Daejang A11 and Incheon Gyeyang A22, into six orders. Chosun Ilbo reported that LH had finished requesting the six orders from the procurement agency and plans to follow up with the aim of starting construction in December. Yonhap also said construction would begin in December. [ 1 , 3 , 4 ]
Chosun Ilbo and Newsis describe bundled ordering as grouping nearby districts with similar start times into one order, which reduces duplicated ordering procedures and administrative work. Yonhap said LH estimated savings of about 12.9 billion won in construction costs. Newsis, which reported the same construction cost figure, also gave an expected saving of about 261.2 billion won in construction management service fees. [ 1 , 3 , 4 ]
Why it matters
The documents present the meeting as part of an effort to speed up housing supply and stabilise the housing market. LH's year-end target of 50,000 construction starts is the benchmark the outlets cite. The documents do not say how many units have started so far.
Key facts
- LH held a housing supply meeting with the Construction Association of Korea at Construction Hall in Gangnam District, Seoul, on 22 October. [ 1 , 2 , 3 , 4 ]
- LH aims to start construction of 50,000 public housing units by the end of this year. [ 1 , 2 , 3 , 4 ]
- Topics included faster public housing supply, technical cooperation on the quality and differentiation of universal public rental housing, and use of private-participation projects and mixed-use sites. [ 1 , 3 , 4 ]
- LH bundled construction of 13 blocks (4,744 units) into six orders, including Bucheon Daejang A11 and Incheon Gyeyang A22. [ 1 , 3 , 4 ]
- LH is targeting a December construction start for the bundled projects. [ 1 , 4 ]
- On 21 October LH held a review meeting at its Gyeonggi South regional headquarters on districts due to start construction this year. [ 1 , 3 ]
Confirmed by several sources
- LH and the Construction Association of Korea held the housing supply meeting on 22 October at Construction Hall in Gangnam District, Seoul, LH said. [ 1 , 2 , 3 , 4 ]
- LH is aiming to start construction of 50,000 public housing units by the end of this year. [ 1 , 2 , 3 , 4 ]
- LH bundled 13 blocks (4,744 units) of public housing construction into six orders. [ 1 , 3 , 4 ]
- LH estimated the bundled ordering would save about 12.9 billion won in construction costs. [ 3 , 4 ]
Still unclear
- Savings of about 261.2 billion won in construction management service fees from the bundled ordering. Only Newsis gives this figure, and the other outlets do not mention it.
- How many of the 50,000 units have already started construction. None of the documents gives a current count of construction starts.
- The August meeting and the government's "Housing Stability Plan (9.22)" as the background to the meeting. Only one outlet mentions them, and it gives no further detail.