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LH

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page title : Overview

Overview

Purpose of
establishment
 
  • LH was established to spearhead the improvement of the quality of life and development of the national economy through the realization of stable housing for the country's citizens and the efficient utilization of the national land.
Major Duties 
  • To construct and supply decent and affordable housing units to the vulnerable and to improve their residential environment, as well as to implement tailored residential welfare programs
  • To develop housing land, new towns, Multi-functional Administrative City and Innovation Cities, as well as to execute projects aimed at regenerating cities in a bid to create comfortable residential spaces and urban environment.
  • To develop industrial and logistics complexes, Kaesong Industrial complex, FEZs, and overseas land to boost national competitiveness and to create employment.
  • To perform land reserve and management, rental housing management, and land and housing informatization.
Capital 
  • LH has a legal capital of 35 trillion won, a paid-in capital of 29.4 trillion won from the government, Korea Development Bank, etc to stabilize the people's residential welfare and help national economi development.
Organization
and Workfoece
 
  • LH's organization consists of HQs 8divisions, 1 research institute, and 45 department, 12 regional HQs and 2 independent project division. Its 6,495 staff members specializing in land and housing are striving to systematically implement national land and housing policies.
Major Projects 
  • Construction of Korea’s first apartment complex (Mapo)
  • Construction of Korea’s first rental apartments (Gaebong-dong)
  • Construction of the first-phase new towns in the Greater Seoul area (Bundang, Ilsan, Pyeongchon, and Jungdong)
  • Construction of the first permanent rental houses (Beondong)
  • Construction of the second-phase new towns in the Greater Seoul area (Pangyo, Dongtan, Kimpo, etc.)
  • Development of Kaesong Industrial complex (the first stage has been completed, and the basis for the second phase established)
  • Development of Sejong City and Innovation City (9 of ten innovative cities, being developed with an area of 44.2㎢)
  • Completion of construction of 2.18 million houses (the first achievement by a single company)
  • Development of industrial complexes and FEZs
  • Execution of overseas land development projects
  • Establishment of the Land Bank (strengthening the centralized land supply and demand control function to stabilize the realty markets)