Korea Land & Housing Corporation (LH) will push to break ground on more than 100,000 homes a year from 2028 through 2030.
LH said on the 27th that as a follow-up to the government's Aug. 13 housing measures, it plans to start construction on 50,000 homes in 2026 and 76,000 in 2027, then maintain an annual average of more than 100,000 housing starts from 2028 through 2030. In project cost terms, the plan calls for 14.9 trillion won in 2026, 25.7 trillion won in 2027 and about 30 trillion won a year from 2028 onward.
The government earlier said in the Aug. 13 measures that it would expand construction-type public housing starts by 180,000 units. The figure includes 100,000 units on newly designated development sites in the greater Seoul area.
LH will also pursue housing projects in urban centers using idle sites and school sites. The corporation plans to speed up permitting and design competitions this year and break ground sequentially from 2027.
LH held a housing supply meeting and a housing supply briefing with private construction companies at its southern Gyeonggi regional headquarters on the same day. At the meeting, presided over by LH President Lee Sung-hoon, the corporation presented its five-year contract award plan and discussed cooperation measures with housing and construction associations to expand housing supply. Attendees included Kwon Hyuk-jin, vice chairman of the Construction Association of Korea; Kim Jae-sik, vice chairman of the Korea Housing Association; Lee Byung-hoon, vice chairman of the Korea Housing Builders Association; and Shin Eon-gu, vice chairman of the Korea Construction Engineering Association.
At the briefing that followed, LH explained detailed plans tied to the Aug. 13 measures, including annual housing start targets, private-sector cooperation projects, a universal rental housing program and measures to promote modular housing. About 150 people attended, including officials from builders and construction management firms.
"This is a moment when strong cooperation with the private construction industry matters more than ever, so that the public can feel the effects of housing policy more quickly and effectively," Lee said. "I hope the private and public sectors can join forces with one mind to resolve difficulties on the ground together and add speed to housing supply."
Lee also said, "LH is concentrating its company-wide capabilities with a heavy sense of responsibility to meet its goal of supplying an annual average of about 120,000 homes over the five years through 2030, including on public development sites, in urban areas and through purchases of newly built units."
