President Lee Han-jun of the Korea Land & Housing Corporation (LH) said on the 14th that he would establish a system in which the public sector takes responsibility to supply a fixed number of dwellings every year stably, regardless of fluctuations in the real estate market.
At the National Assembly's Land Infrastructure and Transport Committee audit in Yeouido, Seoul, that day, Lee said in his opening remarks, "We will stop selling portions of public housing sites to the private sector to supply dwellings through private channels and instead have LH directly implement the projects."
Lee said, "In the process of directly implementing projects, LH will face increased financial burdens and difficulties in organizational and personnel operations, but before the top priority of stabilizing people's housing, LH will strive to fulfill its duties without change."
He added, "We will push without fail for the swift development of the third new towns and the expansion of public dwelling construction, and we will expand purchases of non-apartment rental units and jeonse rentals in city centers to supply dwellings that meet diverse tenant demands," and said, "We will also complete without fail the purchase of unsold dwellings after completion to revive the struggling provincial construction industry and the purchase of dwellings to provide relief for victims of jeonse fraud."
As LH's key action plan, Lee said, "We will contribute to stabilizing the real estate market by swiftly supplying more public dwellings," explaining that LH will implement: ▲ converting volumes previously slated for private sale to construction by LH itself ▲ changing school sites and long-unused land to public dwelling sites ▲ rebuilding aging rental dwellings in city centers and utilizing idle sites within Seoul.
He also said, "We will supply high-quality public dwellings to change perceptions of public dwellings in Korea. We will actively expand public dwelling projects with private participation to flexibly introduce materials and construction methods," adding, "We will spread off-site construction methods such as PC construction and modular dwellings to raise construction industry productivity to advanced-country levels."
He went on to explain, "We will actively introduce AI and digital technologies to achieve the digital transformation of the construction industry," saying, "We are applying AI technologies at the business-planning and design stages to improve work efficiency and accuracy, and pursuing automation and efficiency by process through the expanded application of BIM (building information modeling)." He added that LH will implement: ▲ introducing AI- and IoT (Internet of Things)-based real-time monitoring systems at all construction sites ▲ building AI-based accident prediction systems ▲ integrating big data and AI technologies across the handling of various civil complaints.
Lee said, "LH's role in carrying out national tasks for stabilizing housing for the people and balanced national development, and in realizing the national economic growth strategy, has become heavier than ever," adding, "All LH executives and employees, with the resolve that each of their duties is directly connected to people's lives, will firmly support the government's state affairs management without fail and surely produce results the public can feel."
He continued, "However, as liabilities and losses continue to grow due to the surge in rental dwellings, and as revenues from land sales shrink, it is expected that the cross-subsidy structure that has driven public dwelling supply and regional balanced development projects will no longer be sustainable," emphasizing, "What is most urgently needed at this point is expanded fiscal support from the government and backing for the corporation's organization and personnel."