LH Starts Compensation for Gwangmyeong Siheung Phase 3 New Town Four Months Early... Construction Begins Next Year

Notice for Negotiated Compensation Sent on July 9
Compensation Office Expansion and Relocation Completed

Korea Land and Housing Corporation (LH) has started the compensation process for the Gwangmyeong Siheung Public Housing District in Gyeonggi Province, which will accommodate 67,000 households, four months earlier than originally planned. The negotiated compensation will take place from July 31 until the end of the year, and LH plans to accelerate follow-up procedures with the goal of starting construction by the end of 2027.

On July 14, LH announced, "On the 9th, we sent out notices for negotiated compensation to owners of land and objects within the Gwangmyeong Siheung Public Housing District." The original compensation start date was November this year, but by increasing personnel and reorganizing, it was moved up to July.

Perspective rendering of the Gwangmyeong-Siheung Public Housing District in Gyeonggi Province. Korea Land & Housing Corporation

The compensation targets are about 13,000 people. Compensation will be provided in an integrated manner, covering land, buildings, other property, and business rights. The negotiation period will last five months, from July 31 to the end of this year. LH aims to pay compensation within the year and will sequentially establish relocation and livelihood support plans.

Taking into consideration the large number of people eligible for compensation, the Gwangmyeong Siheung Compensation Business Office has been expanded and relocated. The new office is located on the 4th floor of the U-Planet Tower in front of Gwangmyeong Station. For the first month after the start of negotiated compensation, an online reservation system will be operated to allow people to set their visit dates and times in advance.

The Gwangmyeong Siheung District is a massive housing supply site being developed in the southwestern part of the Seoul metropolitan area. The total area is 12.71 million square meters. It is the largest of the third-generation new towns in both area and number of households. Adjacent to the Seoul boundary, it takes about 20 minutes by car to Yeouido and about 10 to 15 minutes to Guro and Gasan Digital Complex. With major transportation networks such as the Seohaean Expressway and KTX Gwangmyeong Station, commuting to Seoul's major business districts is convenient.

Nearby are the Gwangmyeong Siheung Technovalley, the Gwangmyeong Station Area International Business District, and the Siheung Smart Hub. LH plans to develop the area into a key city in the southwestern Seoul metropolitan area, combining housing and employment opportunities.

An LH official stated, "The Gwangmyeong Siheung Public Housing District is a core national project that will establish a future growth axis for the southwestern metropolitan area. We will ensure that compensation and follow-up procedures proceed smoothly to minimize inconvenience for local residents and to expedite housing supply in the metropolitan area."

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