Lee Seong-Hoon, New LH President: "Supplying Homes Even One Day Sooner"

Inauguration of the 7th LH President Held at Jinju Headquarters, South Gyeongsang Province

"Homes Should Be Public Goods, Not Objects of Speculation... We Will Bring About a New Level of Change"

Lee Seong-Hoon, the seventh president of Korea Land and Housing Corporation (LH), stated at his inauguration ceremony on the 6th, "Right now, one of LH's most important responsibilities is to reduce, even by a single day, the time people must wait for a home." With a key figure who previously coordinated real estate policies at the presidential office now leading LH, it is expected that the pace of public housing supply projects will accelerate.

SungHoon Lee, the new President of Korea Land and Housing Corporation (LH), is delivering his inaugural address at the inauguration ceremony held on the 6th at the LH headquarters in Jinju, Gyeongnam. LH

At the inauguration ceremony held at the LH headquarters in Jinju, South Gyeongsang Province, Lee said, "We will boldly innovate the entire project process—including permits, compensation, and development works—to dramatically increase the speed of housing supply." He also outlined plans to expedite the supply of urban housing by promoting urban complex projects, public redevelopment projects, and the development of idle sites, as well as expanding both new and existing purchase-based rental housing.

Lee emphasized the public nature of housing. He stated, "Houses should no longer be objects of speculation, but public goods that support people's lives," adding, "They must be affordable for the public." Lee, a former official at the Ministry of Land, Infrastructure and Transport, was dispatched as director of construction at Gyeonggi Province in 2021, when President Lee Jaemyung was serving as governor. After the current administration took office, he coordinated real estate policies and land and transport issues as secretary for land and transport at the presidential office. His term will run until July 2029.

Lee identified five key priorities: accelerating the speed of housing supply, improving the location and quality of public housing, supporting balanced regional growth, driving a major transition to artificial intelligence (AI) and ESG management, and prioritizing safety management.

He also pledged to improve both the location and the size of public rental housing. Lee said, "We will prioritize the placement of public rental housing in areas with good living conditions, such as near subway stations, and will expand mid-sized units." He also announced plans to strengthen housing services for young people, newlyweds, and the elderly. Through these measures, Lee aims to "transform public rental housing into the 'first choice for citizens' and a 'proud residential option for working- and middle-class households.'"

Lee also highlighted LH's role in supporting balanced regional development. He stated, "To support three major megaprojects—semiconductors, physical AI, and AI data centers—we will work with companies to develop hinterland cities equipped with the best industrial complexes, residential, educational, and cultural infrastructure."

For construction site safety management, Lee announced plans to utilize advanced technologies such as AI, declaring, "We will prioritize safety over performance and life over speed."

Finally, Lee urged all LH employees, "We must not only swiftly implement housing policies, but also enhance both the public value and management efficiency of LH to become a public corporation trusted by the people." He added, "Without the trust of the public, LH has no future. Let us create a new level of change in the homes and cities we provide, and in the way we work, to meet the expectations of the people."

This content was produced with the assistance of AI translation services.