The Korea Land and Housing Corporation (LH) is significantly increasing its compensation workforce to accelerate housing supply in the metropolitan area, including the 3rd New Towns. The goal is to reduce the compensation period for newly initiated compensation districts from 44 months to 24 months.
On September 2, LH announced plans to expand its organization and personnel and improve procedures to expedite compensation and advance housing construction.
LH will deploy a total of 344 personnel to handle compensation tasks at major housing supply sites in the metropolitan area. This includes skilled staff from its headquarters and non-metropolitan regions, newly hired employees from the first half of this year, and specialized temporary workers. Additionally, LH plans to hire 250 compensation specialists by the end of this month.
The aim is to swiftly complete compensation and land acquisition for the 3rd New Towns, which are nearing the final stages of relocation, and to ensure that compensation procedures for key project areas, such as Gwangmyeong-Siheung and Seoul's Seoripul, proceed without delays.
To implement the fastest possible construction model for public land, LH has also established a new 'Compensation Acceleration Support Task Force' within its headquarters. This team will address bottlenecks such as delays in the review of public land and business compensation and expedite the resolution of complex civil complaints.
The compensation period for newly initiated districts will be reduced from 44 months to 24 months, from the designation of the district to the start of construction. By commencing basic investigations early and conducting basic investigations and appraisals concurrently, the time from the start of the basic investigation to the commencement of negotiated compensation will be shortened from 21 months to 9 months.
LH will also introduce an incentive system to encourage cooperation. Property owners who assist with the basic investigation, negotiated contracts, and voluntary relocation will receive incentives based on the duration of their cooperation. Conversely, penalties will be imposed on those who refuse to transfer land or property after receiving compensation.
LH President Lee Seong-hoon visited the compensation site for the Gwangmyeong-Siheung public housing district on the same day to assess the progress. The Gwangmyeong-Siheung district, covering approximately 12.71 million square meters, is the largest project in the 3rd New Towns, aiming to supply a total of 67,000 housing units, with compensation procedures having begun in July with a target construction start in 2027.
Currently, the contract signing rate for the Gwangmyeong-Siheung district is about 27% based on the number of landowners, with the total compensation amount estimated at around 2.4 trillion won.
If the compensation process, identified as a key bottleneck in the schedule for the 3rd New Towns, is expedited, the government's housing supply measures in the metropolitan area could transition more quickly into the construction phase.
Lee stated, “We have undertaken a comprehensive reform from a field support perspective to enhance the speed of compensation work, which is the starting point for housing supply and a critical phase that influences the pace of project execution. I urge everyone to do their utmost in fulfilling the significant responsibility of expanding housing supply.”
* This article has been translated by AI.
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