▲ Vice Minister of Land, Infrastructure and Transport Kim Yi-tak holds a public housing supply inspection TF meeting.
The provisional tally of public housing units that have broken ground in the capital area through the third quarter of this year stands at 17,000 units.
As the groundbreaking of 45,000 public housing units is concentrated in the fourth quarter, the government projected that it will achieve most of its annual target by the end of the year.
The Ministry of Land, Infrastructure and Transport announced that First Vice Minister Kim Yi-tak held the 3rd Public Housing Supply Inspection TF meeting today (the 2nd) at the joint housing supply task force (TF) meeting room of the Ministry and Korea Land and Housing Corporation (LH) in Yongsan, Seoul, together with four major corporations including LH, Seoul Housing & Communities Corporation (SH), Gyeonggi Housing & Urban Corporation (GH), and iH (Incheon Corporation).
During the meeting, the participants checked the public housing groundbreaking performance in the capital area through the third quarter and the implementation status to achieve the year-end target.
The provisional volume of public housing construction started in the capital area this year reached 17,000 units up to the third quarter.
This accounts for 27.4% of the annual target of 62,000 units.
The Ministry projected that with scheduled groundbreaking volumes, including 45,000 public housing units, new public purchases, and private redevelopment, concentrated in the fourth quarter, more than 60,000 units will break ground by the end of the year, achieving most of the annual target.
Vice Minister Kim closely inspected the preparation status and implementation schedules for each project, and instructed that procedures necessary for construction starts, such as permits and project commissioning, be carried out swiftly.
Next year, the public sector aims to break ground on approximately 84,000 units, including 5,000 units from small-scale redevelopment projects.
The Ministry and each corporation plan to continuously manage compliance starting from the pre-construction stages of compensation and site preparation, and preemptively resolve factors causing project delays.
Housing permits in Seoul from January to August this year rose 40.4% from the same period last year to 39,940 units.
Groundbreakings increased by 41.1% to 20,679 units.
Vice Minister Kim said, "To ensure public housing stability, it is crucial to accelerate the supply pace during the remaining period so that planned volumes lead to actual construction," adding, "Please closely monitor public and private housing supply conditions and do your absolute best until the very end to achieve the target volume."
(Photo: Provided by the Ministry of Land, Infrastructure and Transport, Yonhap News)
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