▲ Conceptual rendering of Seoripul District 1
The Korea Land and Housing Corporation (LH) announced today (the 27th) that it is working to swiftly proceed with follow-up procedures such as district planning and compensation for Seoripul District 1 in Seocho-gu, Seoul, while devising measures to maximize housing supply.
Previously, LH President Lee Seong-hoon visited the Seoripul District site for his first official engagement after taking office, instructing officials to boldly accelerate the project timeline and increase supply volume.
LH has decided to initiate compensation simultaneously with the district plan approval for Seoripul District 1 in March of next year.
To achieve this, LH explained that it is conducting basic surveys of land and structures with the goal of announcing the compensation plan by the end of October, while maintaining active communication with residents through a coexistence committee and a public-private-public consultative body.
In addition, with the goal of breaking ground on housing in the second half of 2028, LH plans to accelerate the project by introducing an ultra-fast construction model that applies a fast-track approach across all areas of licensing, compensation, and construction.
Some parts within the district will be designated as a priority development zone to promote the early supply of housing.
LH plans to supply general public rental housing, including mid-sized units for newlywed couples and childbearing households, in the Seoripul District. While the initial plan was to increase the supply by 500 units compared to the original announcement, LH is also reviewing additional measures to further expand the volume by seeking multi-faceted solutions such as easing noise standards and consulting with the Ministry of National Defense.
LH President Lee Seong-hoon stated, "To ensure a prompt housing supply, we will simultaneously pursue all areas including compensation, approval, and construction, dramatically accelerating project momentum," adding, "We will seek ways to coexist with residents and actively discuss gathered opinions with relevant authorities to make this a successful model for urban housing supply."
(Photo provided by LH, Yonhap News)
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