The Korea Land and Housing Corporation (LH) plans to complete the district plan approval for the Seoripul District in Seoul by March 2027 and will immediately begin compensation procedures. The agency is also considering applying a fast-track approach to accelerate the project and maximize housing supply, with a goal to start construction in the second half of 2028.
On September 27, LH announced that it is progressing swiftly with the follow-up procedures for the Seoripul District, aiming for district plan approval by March 2027.
The Seoripul District was the first site visited by LH President Lee Seong-hoon after his appointment in July. During that visit, he urged for an expedited project timeline compared to the initially announced plans.
In response, LH has designated part of the Seoripul District as a 'priority project area' to expedite housing supply in that region. The agency is introducing a super-short-term construction model that applies fast-track procedures across all areas, including permits, compensation, and construction, aiming for housing construction to begin in 2028.
In line with the government's rental housing supply policy, universal rental housing will also be provided in the Seoripul District. This includes expanding public rental housing in prime locations, such as near subway stations, and creating medium-sized units for newlyweds and families with children.
Compensation procedures, a key issue, are also being conducted concurrently. LH is currently conducting a basic survey of land and structures, aiming to announce the compensation plan by the end of October. The agency is gathering resident opinions through a win-win committee and public-private consultative bodies.
LH is also exploring options to increase the housing supply. The agency is considering adding approximately 500 units compared to the initial announcement. Following President Lee's directive to maximize supply, it plans to seek various solutions, including relaxing noise standards and consulting with the Ministry of National Defense.
Given the challenges of securing new land in downtown Seoul, the Seoripul District is seen as a key project where both the speed of supply and the potential for expansion are under close scrutiny.
President Lee Seong-hoon stated, “To ensure rapid housing supply, we will concurrently push forward with compensation, approvals, and construction, aiming for compensation by March 2027 and housing construction in the second half of 2028. We will seek win-win solutions with residents based on consultation and communication, and the collected opinions will be actively discussed with relevant agencies to make Seoripul a successful model for urban housing supply.”
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.