The supply timeline for 3,000 public dwellings provided in public housing sites in the greater Seoul area will be moved up.
The Ministry of Land, Infrastructure and Transport said on the 29th that it will switch the project implementation method to speed up public dwelling supply and begin recruiting private operators on the 30th.
The measure aims to push ahead more quickly with dwelling supply within public housing sites and ensure that the public captures development gains. Under the plan, Korea Land & Housing Corporation (LH) will implement the project directly while leveraging the private sector's creative design and construction capabilities. The government plans to enhance public interest and the pace of project execution to continue dwelling supply in the greater Seoul area without disruption.
The Ministry of Land, Infrastructure and Transport released a direct-implementation plan by LH in the Sept. 7 policy to expand dwelling supply last year. This call is the first case to recruit operators for public dwellings that are being switched to LH direct implementation.
The target districts for the call are as follows: ▲ Incheon Geomdan (766 units) ▲ Incheon Yeongjong (565 units) ▲ Yangju Hoecheon Deokgye-dong and Hoejeong-dong (1,172 units) ▲ Osan Osan (366 units), totaling about 3,000 public dwellings in the greater Seoul area.
The dwellings supplied through this call are being pushed with the goal of breaking ground this year. Compared with the usual timeline—where it takes more than two years for private dwellings to start construction after public housing sites are sold to the private sector—this schedule is significantly accelerated.
Kim Gyu-cheol, head of the Housing and Land Office at the Ministry of Land, Infrastructure and Transport, said, "Because LH direct-implementation public dwellings are a public-private joint work that combines public accountability with private-sector expertise, we expect to supply high-quality public dwellings more quickly through active interest and participation from private operators," adding, "Along with LH direct implementation, we will also push the follow-up measures to the Sept. 7 supply plan without a hitch, and contribute to stabilizing the real estate market through dwelling supply results that the public can feel."
Details on recruiting private operators will be announced on the 30th on the website of Korea Land & Housing Corporation (LH).