On the 10th, during the National Assembly’s Land, Infrastructure and Transport Committee audit, Han-Jun Lee, the President of Korea Land and Housing Corporation (LH), stated that the construction of 50,000 housing units planned for this year is progressing without issues, and starting next year, the goal will be to commence the construction of over 60,000 units annually.
He particularly emphasized the rapid implementation of plans to supply public housing, including 10,000 units in the third phase of new towns.
When questioned about the fact that as of the end of September, only 2,946 units had been started, falling short of the 50,000-unit target for this year, President Lee explained that it was due to the practice of concentrating construction at the end of the year. He stated that LH will reform its system to promote evenly distributed starts on a quarterly basis.
Additionally, he revealed that the goal is to commence the construction of 10,000 units in the first quarter of next year.
He added that large-scale land development projects, such as the third-phase new towns and Gwangmyeong-Siheung, are being accelerated, and new sites like the Gimpo Hangang 2 district will be designated within the year to lay the foundation for housing supply.
In conjunction with these efforts, LH plans to implement a system to guarantee the purchase of unsold units in public housing sites, in order to support the private sector's supply of 40,000 units.
During the audit, the issue of "preferential treatment for former officials" in companies entrusted with managing LH’s purchased rental housing was also raised.
Assemblyman Chun-Seok Lee of the Democratic Party of Korea pointed out that two companies, which included a significant number of former LH officials, monopolized 42 out of 54 service contracts.
In response, President Lee expressed surprise, stating that he was unaware of the involvement of former officials in the management of purchased rental housing, and promised to thoroughly revamp the selection process for companies.
He also addressed allegations regarding a specific event company receiving preferential treatment through a private contract in the Yongsan Children's Park project, assuring that the matter is being carefully reviewed, and promising to reduce the number of private contracts in the future.
President Han-Jun Lee pledged to thoroughly investigate the issues raised during the audit, and to improve transparency in public housing supply and management.
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Han-Jun Lee, LH President, Pledges Improvement: "50,000 Units to Begin Construction This Year and Eradication of Preferential Tr
On the 10th, during the National Assembly’s Land, Infrastructure and Transport Committee audit, Han-Jun Lee, the President of Korea Land and Housing Corporatio
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