Korea Land & Housing Corporation (LH) will break ground on more than 100,000 dwellings each year from 2028 to 2030 as a follow-up to the government's Aug. 13 housing supply measures. Starting with 50,000 dwellings this year, it plans to gradually increase the number to 76,000 next year.
LH on the 27th at the Southern Gyeonggi Regional Headquarters disclosed its future dwelling groundbreaking plans with the same details at a "housing supply roundtable" and a "housing supply briefing" with the private construction industry. Attendees at the roundtable included officials from the Construction Association of Korea, the Korea Housing Association, the Korea Housing Builders Association, and the Korea Construction Engineers Association.
LH will accelerate dwelling groundbreaking in line with the government's Aug. 13 plan to expand construction-type public dwelling starts by 180,000 units. LH plans to break ground on 426,000 dwellings over the next five years. The project cost will exceed 130.6 trillion won.
This year, it will push forward groundbreaking for 50,000 dwellings worth 14.9 trillion won, and in 2027 it will expand the scale to 76,000 dwellings worth 25.7 trillion won. Then, from 2028 to 2030, it will break ground on more than 100,000 dwellings each year, totaling more than 30 trillion won annually.
LH also plans to speed up urban dwelling projects that use not only public housing sites but also idle land and school sites. The Sungkyunkwan University baseball field site will break ground next year, and three idle sites in Gangseo District, Seoul, along with pilot districts for complex projects on school sites such as Gonghang High School, Suo High School, Gwonseon 2 Middle School, and Heungi Middle School, will enter construction in 2028 through a design competition this year.
LH President Lee Seong-hun said, "LH is concentrating companywide capabilities with a strong sense of responsibility to achieve the goal of supplying an annual average of 120,000 dwellings over five years through public housing sites, urban areas, and new-build purchases by 2030," and added, "We will strengthen communication and cooperation with the construction industry to supply faster and more volume in an innovative way and successfully accomplish the goal."