New LH chief vows to accelerate housing supply, build 'residential ladder' for youth

Lee Seong-hun, president of Korea Land and Housing Corp. (LH), said Monday that he would focus all of the agency's resources on accelerating housing supply.

Speaking at his inauguration as the seventh LH president, Lee said the state-run developer must take a more proactive and responsible approach to housing delivery. "As the core public institution executing the government's housing policy, LH must lead real estate market stabilization and contribute to national development," he said.

Lee said housing should no longer be treated as a vehicle for speculation but as a public good that people can afford. "Supplying good homes quickly to people who are waiting, building a residential ladder for youth and newlyweds, and laying the groundwork for strategic industries and balanced regional development — these are the missions LH must fulfill," he said.

He outlined five priority tasks for LH: accelerating the pace of housing supply, improving the location and quality of public housing, supporting balanced regional growth, advancing AI adoption and ESG (environmental, social and governance) management, and placing safety at the center of operations.

Lee said speed and location were the most pressing concerns at this moment. "Cutting even a single day off the time people wait for a home is one of LH's most important duties," he said. He pledged to dramatically speed up housing delivery by overhauling every stage of the development process — from permits and compensation to construction. LH would also pursue urban mixed-use projects, public redevelopment schemes, idle-site development, and expanded purchase-and-lease programs for both new and existing housing to produce tangible results in urban housing supply as quickly as possible, he said.

Lee also said he would transform public housing into homes "everyone wants to live in" through quality innovation. "Public rental housing should not be a last resort but the first choice for residents," he said. LH would dramatically raise quality standards to match South Korea's growing economic and cultural standing, he added, shifting the paradigm so that public rental housing becomes a proud residential option for both lower- and middle-income households.

As his third priority, Lee said LH would become "a partner in balanced growth, injecting new momentum into regions across the country." He pledged to swiftly develop the National Symbolic Zone — where the presidential office and other key facilities are to be located — to complete the administrative capital Sejong ahead of schedule, and to actively support the second round of public institution relocations.

Lee also emphasized organizational reform at LH, calling for transparent and merit-based personnel management. "Organizations are ultimately built by people," he said. "I will not be swayed by any lobbying over appointments." He also promised to boost employee morale, saying staff who work proactively should not feel discouraged or be penalized for minor mistakes.

Lee, who took office Monday, previously served as presidential secretary for land and transport, where he coordinated the current administration's major real estate policies. Before that, he served as policy planning director at the Ministry of Land, Infrastructure and Transport and as construction bureau chief of Gyeonggi Province. His term runs through July 2029.