Korea Land & Housing Corporation (LH) said on the 27th it held a communication roundtable with private builders to boost projects in small-scale housing maintenance management zones.
The roundtable was arranged to draw active participation from leading builders by introducing the advantages and incentives of projects in small-scale housing maintenance management zones such as the Moa Town initiative in Seoul.
Through the roundtable, LH presented a roadmap for selecting builders for eight management zones going forward, covering 7,300 households. LH plans to sequentially complete builder selections this year for four sites — Gwanak Nanggok, Seodaemun Hongje, Gangseo Hwagok, and Geumcheon Siheung 2 — and next year for four sites — Dongjak Noryangjin, Seongbuk Jongam, Jongno Gugi, and Incheon Gajeong.
At the roundtable, LH introduced the advantages of management zone projects to invigorate the initiative. It promoted that, once designated as a management zone, the project area can be expanded to as large as 40,000㎡ to achieve economies of scale at the complex level, and that a "design–construction integrated procurement" plan is possible to improve the speed and efficiency of the project.
It also highlighted key advantages such as the ability to secure stable initial project funding through low-interest loan from the housing & urban fund, backed by LH's strong credit rating, as well as the possibility of skipping the maintenance plan establishment procedure to shorten the project period.
Park Hyeon-geun, head of LH's Metropolitan Area Maintenance Project Special Headquarters, said, "Small-scale housing maintenance management zones are a key project for the rapid supply of housing in city centers," adding, "We will use this roundtable as an opportunity to publicize the expansion of the project scale and public support measures so that mid- to large-sized builders with strong capabilities can actively participate."