LH to break ground on over 100,000 homes annually through 2030 in push to accelerate housing supply

Korea Land and Housing Corporation will sharply expand housing ground-breakings through 2030 as a follow-up to the government's Aug. 13 rapid housing supply plan. Starting in 2028, the state developer will break ground on more than 100,000 units a year, committing its full organizational capacity to expanding urban housing supply and reviving the construction sector.

LH unveiled the medium- to long-term procurement plan Thursday at a housing supply forum and briefing held at its Gyeonggi Southern Regional Headquarters in Seongnam, Gyeonggi Province, aimed at strengthening cooperation with the private construction industry.

Under the plan, LH will break ground on 50,000 units this year at a cost of 14.9 trillion won ($10.8 billion), followed by 76,000 units worth 25.7 trillion won in 2027, before launching consecutive annual ground-breakings of more than 100,000 units at 30 trillion won from 2028 through 2030. The targets align with the government's Aug. 13 policy goal of expanding public housing construction starts to a total of 180,000 units, including 100,000 on new sites in the greater Seoul area.

To accelerate urban housing supply, LH also said it would fast-track permitting and design competitions this year for projects using idle land and school sites, with phased construction starts set to begin from 2027.

The forum was attended by LH President Lee Seong-hun along with vice presidents from major industry associations — including the Korea Federation of Construction Associations, the Korea Housing Association, the Korea Housing Builders Association and the Korea Construction Engineering Association — who discussed ways to strengthen public-private cooperation.

"Strong cooperation with the private construction industry is more important than ever to ensure that the public can feel the effects of housing policy quickly and meaningfully," Lee said. "I hope that the public and private sectors can join forces to resolve difficulties on the ground and accelerate supply."

A separate briefing session drew more than 150 participants, including representatives from contractors and construction management firms. LH shared detailed plans covering annual housing ground-breaking targets, private-sector partnership projects, and initiatives to promote universal rental housing and modular housing.

Industry participants responded positively, saying LH's large-scale ground-breaking plan would help revive the sluggish construction market and create jobs. However, they also called for institutional support measures — including securing adequate construction timelines and adjusting project costs to realistic levels — to prevent safety accidents and substandard construction during the accelerated supply push.

"We will marshal the full capacity of the organization to meet an average annual housing supply target of around 120,000 units over the five years through 2030, combining public land development, urban projects and newly built purchase-rental housing," Lee said. "Through active communication with the construction industry, we will achieve our goals without setbacks."

Meanwhile, LH said it would significantly streamline procedures for expanding its newly built purchase-rental housing program in the greater Seoul area. Applicants will be able to submit an abbreviated business plan of no more than five A4 pages instead of full design drawings, and passing a preliminary location review will be treated as equivalent to clearing the existing document screening process.