An aerial rendering of the Gwangmyeong-Siheung new town project. [Korea Land and Housing Corporation]
An aerial rendering of the Gwangmyeong-Siheung new town project. [Korea Land and Housing Corporation]

Korea Land and Housing Corporation (LH) announced Tuesday that it has launched compensation procedures for the Gwangmyeong-Siheung public housing district four months ahead of the original schedule.

LH sent compensation consultation notices to landowners and property holders within the district on Thursday, moving up the process from the previously planned November start. The corporation had earlier expanded its staffing and organizational capacity to accelerate the project.

The consultation process will run for five months, from July 31 through the end of this year, covering land, structures and business rights in a single consolidated compensation package. LH said it aims to disburse compensation payments within the year while pressing ahead with relocation and livelihood support measures, targeting a late-2027 ground-breaking.

The Gwangmyeong-Siheung public housing district spans approximately 12.71 million square meters and will supply 67,000 homes, making it the largest public housing project among the third-generation new towns. It is a key development site intended to expand housing supply and self-sustaining functions in the southwestern Greater Seoul area. Of the total, 37,000 units will be built as public housing, including 13,000 public sale units and 24,000 public rental units.

The site borders Seoul and offers easy access to major business districts — Yeouido is about 20 minutes by car and the Guro-Gasan digital complex is 10 to 15 minutes away. It also benefits from strong regional connectivity via Gwangmyeong Station on the Korea Train Express (KTX) network and several expressways, including the Seoul Ring Expressway and the West Coast, Second Gyeongin and Third Gyeongin expressways, positioning it as a central hub within the broader metropolitan living zone.

The area is also home to nearby industrial and economic anchors — the Gwangmyeong-Siheung Techno Valley, the Gwangmyeong Station transit-oriented international business district and the Siheung Smart Hub — giving the development strong ties to existing industrial infrastructure and raising expectations that it will function as a self-sufficient city where residents can live close to work.

To improve convenience for residents and speed up processing, LH will operate an appointment reservation system for one month from the start of the consultation period. "The Gwangmyeong-Siheung public housing district is a nationally critical project that will shape the future growth axis of the southwestern metropolitan area," an LH official said. "We will push ahead without disruption to ease inconvenience for local residents and expand housing supply across the greater Seoul region."


hss@heraldcorp.com