Five years after site designation, ground-breaking set for 2028

Faster timeline than private redevelopment accelerates housing supply

A rendering of the Yeonsin-nae Station urban public housing complex project. [Provided by LH]
A rendering of the Yeonsin-nae Station urban public housing complex project. [Provided by LH]

Korea Land and Housing Corporation announced Monday that it has launched the compensation consultation process for its urban public housing complex projects near Ssangmun Station (west side) and Yeonsin-nae Station, and will push ahead with resident relocation before the end of the year.

The two sites together cover 1,796 units — 1,404 at the Ssangmun Station west zone and 392 at the Yeonsin-nae Station zone. Both are located in transit-oriented areas served by major metropolitan rail lines, including Seoul Subway Line 4, Lines 3 and 6, and the GTX-A route, giving them strong access to the city center. LH aims to begin ground-breaking at both sites in 2028 after completing the compensation and relocation process.

The two districts were designated as candidate sites in 2021, and their entry into the compensation and relocation phase just five years later represents a significantly shorter timeline than comparable private redevelopment projects.

The launch of compensation consultations is expected to give fresh momentum to LH's broader urban housing supply push across six Seoul-area transit-oriented districts, which together account for 7,755 units. Following demolition work that began at the Banghak Station district last month, LH plans to open compensation procedures for the Singil Zone 2 and Jeungsan Zone 4 districts in November.

LH's urban complex housing projects are designed to move faster and more reliably than private-sector developments by offering floor-area-ratio incentives to improve project viability and by streamlining the permitting process. The corporation has expanded its dedicated teams and staffing to accelerate supply, and is working to clear bottlenecks at key stages such as permitting and compensation. It is also boosting resident participation through tailored support measures, including relocation loan referrals and guarantee products linked to the Korea Housing and Urban Guarantee Corporation.

Alongside this, LH plans to open compensation contract offices near each district and post permanent staff — including legal scriveners, tax accountants and financial institution representatives — to assist residents with compensation consultations and ensure smooth relocation.

"Now that the Ssangmun Station west and Yeonsin-nae urban complex districts have entered the compensation process five years after their designation as candidate sites, we will strengthen cooperation with residents and carry out all follow-up procedures without delay to ensure housing supply moves forward quickly and reliably," an LH official said.

Meanwhile, LH plans to strengthen cooperation with the construction industry to accelerate public housing supply, and will issue an integrated construction order this year for public housing projects totaling 4,744 units.


hwshin@heraldcorp.com