LH President Lee Sung-Hoon Orders Early Groundbreaking for 20,000 Housing Units in Gangnam Area During Seoripul Visit

First Field Visit After Taking Office: Reviewing Seoul Housing Supply
"The Schedule Must Be Advanced by More Than One Year Compared to the Plan"

Sung-Hoon Lee, President of Korea Land & Housing Corporation (LH), visited Seoripul District in Seocho-gu, Seoul for his first field inspection since taking office, and instructed officials to "accelerate the housing groundbreaking schedule by more than one year, compared to the previously announced plan." Seoripul District is a symbolic site for the expansion of housing supply in Seoul. District 1, designated in February of this year, will provide 18,000 housing units. If 2,000 additional units in District 2, designated in June, are included, a total of 20,000 units will be supplied. This scale is more than twice that of the entire 10,000-unit supply in the Gwacheon District of Gyeonggi Province, which is part of the 3rd New Town initiative.

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 July 8, LH announced that President Lee visited Seoripul District to receive reports on the progress, project schedules, and current issues of each district. Explaining why he chose Seoripul District as his first field visit, President Lee stated, "Rapidly supplying housing to areas with high demand is a key task to achieve stability in the real estate market," and added, "We will mobilize all possible resources to supply housing so that low-income residents without homes, young people, and newlyweds can live stably in the Seoul area."

The initial construction target for Seoripul District 2, designated last month, was December 2028, while the original groundbreaking goal for District 1 was 2029. President Lee’s directive to "start construction more than one year early" is interpreted as an intention to advance the groundbreaking of the entire Seoripul District, including District 1, to 2028.

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

Seoripul District attracts strong interest due to its location. It is situated in the Gangnam area of Seoul and includes a plan to supply public housing for young people, newlyweds, and genuine demanders without homes. LH announced its intention to develop Seoripul District as a new model to implement the government's updated housing policy. The company plans to expand public rental housing for young people in areas with excellent access to major transport hubs, and to provide mid-sized apartments for newlyweds and families with children.

However, there are substantial challenges that must be addressed during the course of the project. Seoripul District is witnessing continued opposition and petitions from residents who wish to remain in the area. On the same day, residents of Seoripul District 2 filed an administrative lawsuit to cancel the designation of the Seoul Seoripul 2 Public Housing District. LH plans to operate a consultative group to communicate with residents and discuss key 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 construction site of "Seoul Daebang Newlywed Hope Town" in Yeongdeungpo-gu, Seoul, to inspect the site’s readiness for the newly introduced severe heatwave alert this summer. He checked whether the five key basic guidelines to prevent heat-related illnesses among on-site workers were being followed. President Lee stated, "With the risk of heat-related illnesses among construction workers increasing due to climate change, along with preparations for heavy rainfall, we will ensure thorough on-site management to create a safe workplace."

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