Kim Itak: "45,000 Metropolitan Public Housing Units Concentrated in Q4... Pace Must Increase"

3rd Public Housing Supply Review TF Meeting Held with LH and Four Major Public Corporations
Direct Site-by-Site Management Ordered to Ensure Each Agency Meets Its Target

Kim Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport, stated that the pace of public housing supply in the metropolitan area will be accelerated in the remaining fourth quarter to achieve this year's groundbreaking target of 62,000 units. As of September, a provisional total of 17,000 units had started construction. To reach the annual target, an additional 45,000 units must begin construction between October and December.

Kim Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport (center), is speaking at the 3rd Public Housing Supply Inspection Meeting held on the 2nd at the joint housing supply task force meeting room of the Ministry of Land, Infrastructure and Transport and LH in Yongsan-gu, Seoul. Ministry of Land, Infrastructure and Transport

On October 2, First Vice Minister Kim held the “3rd Public Housing Supply Review Task Force Meeting” at the joint Ministry of Land, Infrastructure and Transport-LH Housing Supply TF Conference Room in Yongsan-gu, Seoul, with the participation of four major public corporations: Korea Land and Housing Corporation (LH), Seoul Housing and Communities Corporation (SH), Gyeonggi Urban Innovation Corporation (GH), and Incheon Housing and City Development Corporation (iH).

During the meeting, First Vice Minister Kim closely checked the project preparation status and progress schedules for each site. He also instructed that all approval and construction procurement processes necessary for groundbreaking be expedited. The Ministry and the four corporations plan to start construction on more than 45,000 additional units before year-end to achieve the annual target.

First Vice Minister Kim emphasized, “To ensure that planned volumes for stabilizing housing for citizens are actually translated into groundbreaking, it is important to speed up supply during the remaining period. Since approximately 45,000 public housing units—along with new purchase and private redevelopment groundbreaking volumes—are all concentrated in the fourth quarter, I ask that you manage each project site intensively to maximize performance.”

Kim Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport (first from right), is checking the construction performance and promotion schedule of public housing in the metropolitan area with officials from LH and four other construction companies on the 2nd at the joint Ministry of Land, Infrastructure and Transport-LH Housing Supply Task Force meeting room in Yongsan-gu, Seoul. Ministry of Land, Infrastructure and Transport

The task force also reviewed measures to secure next year’s public sector groundbreaking target of 84,000 units. The policy is to proactively address any factors causing delays, such as compensation and site preparation, even before the groundbreaking stage, to ensure that the supply can be secured.

First Vice Minister Kim also mentioned recent performance in the Seoul area and called for continued effort to accelerate the pace of housing supply. “Although there are positive signals, particularly in Seoul, we must not let down our guard,” he said, “and I urge you to closely monitor both public and private sector housing supply situations and do your utmost to achieve the target volumes.” From January to August this year, the number of housing project approvals in Seoul came to 39,940 units and groundbreaking reached 20,679 units, increases of 40.4% and 41.1% respectively compared to the same period last year.

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