LH President Sung-Hun Lee Visits Seoripul for "20,000 Units in Gangnam Area" ... Orders Construction to Start a Year Early

First On-Site Visit After Taking Office

Inspecting Seoul Housing Supply

Sung-Hun Lee, President of Korea Land and Housing Corporation (LH), visited Seoripul District in Seocho-gu, Seoul on July 8 as his first site inspection after taking office. He instructed, "Advance the housing construction schedule by more than a year compared to the previously announced plan." Seoripul District is a symbolic project site for the expansion of housing supply in Seoul. The first district, designated in February, is slated to provide 18,000 housing units. With the addition of 2,000 units in the second district, which was designated in June, a total of 20,000 units will be supplied. This figure is more than double the total supply volume of 10,000 units for Gwacheon District, a third-phase new town in Gwacheon, Gyeonggi Province.

Sung-Hoon Lee, President of Korea Land & Housing Corporation (LH), is receiving a report on the progress of the project at Seoripul District, Seocho-gu, Seoul on the 8th. LH

On this day, LH announced that President Sung-Hun Lee visited Seoripul District and received reports on the progress, project schedule, and key issues for each district. President Lee explained his choice of Seoripul as the first inspection site by stating, "Rapidly supplying housing in high-demand areas is a key task for stabilizing the real estate market," and emphasized, "We will dedicate all available resources to housing supply so that low-income residents without homes, young people, and newlyweds can stably reside in the Seoul area."

The initial construction target for Seoripul 2 District, set at the time of designation last month, was December 2028, while the original target for Seoripul 1 District was 2029. President Lee's directive to "start construction more than a year early" is interpreted as moving up the start date for all of Seoripul District, including District 1, to 2028.

LH plans to apply for district planning for Seoripul 1 District this month. The plan is to obtain district plan approval in the first half of next year, begin compensation procedures in the second half, and commence housing construction in 2028.

Seoripul District is attracting significant interest from buyers due to its prime location. It is situated in the Gangnam area of Seoul, and includes plans for public housing aimed at young people, newlyweds, and genuine demanders without homes. LH intends to develop Seoripul District as a model for implementing the government's new housing policy. In locations with excellent accessibility, such as areas near subway stations, public rental housing for young people will be expanded. Additionally, medium-sized units for newlyweds and families with children will also be supplied.

However, there are numerous challenges to address during the project process. In Seoripul District, there has been continued opposition from residents and complaints requesting preservation. On this day, residents of Seoripul 2 District even filed an administrative lawsuit seeking to cancel the designation of Seoul Seoripul 2 as a public housing district. LH plans to operate a consultative body to communicate with residents and to discuss issues such as compensation and relocation.

Seong-Hun Lee, President of LH, is inspecting the current status of safety management in preparation for heavy rain and heat waves at the newlywed hope town construction site in Daebang, Seoul, on the 8th. LH

On the same day, President Lee also visited the "Seoul Daebang Newlywed Hope Town" construction site in Yeongdeungpo-gu, Seoul to inspect readiness for the newly established extreme heat warning this summer. He checked compliance with five basic rules aimed at preventing heat-related illnesses among site workers. President Lee stated, "As the risk of heat-related illnesses among construction workers increases due to climate change, along with the need to prepare for heavy rain, we will ensure thorough on-site management to create a safe workplace."

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