LH to begin compensation for Seoripul District 1 upon zone plan approval in March, eyes 500 additional units

Korea Land and Housing Corporation said Sunday it is moving to accelerate follow-up procedures — including zone planning and compensation — for Seoripul District 1 in Seocho-gu, Seoul, while exploring ways to maximize the housing supply.

LH President Lee Sung-hoon made the Seoripul district his first site visit after taking office, directing officials to advance the project timeline and increase the number of units to be supplied.

LH plans to launch compensation proceedings simultaneously with the zone plan approval for Seoripul District 1 in March. To that end, the corporation is conducting basic surveys of land and structures with a target of announcing the compensation plan by the end of October, while maintaining active communication with residents through a co-prosperity committee and public-private-government consultative bodies.

LH also plans to apply a fast-track approach across all areas — permitting, compensation and construction — targeting the start of housing construction in the second half of 2028.

Some areas within the district will be designated as "priority project zones" to push for early housing supply.

Seoripul District 1 is slated to provide 18,000 units of public rental housing, centered on transit-oriented areas and other prime locations across Wonji-dong, Sinwon-dong, Yeomgok-dong and Naegok-dong in Seocho-gu, Seoul. LH plans to supply universal rental housing in the area that includes mid-size units for newlywed and childbearing households.

The supply volume had originally been set to increase by 500 units from the initial announcement, but LH said it is now reviewing options to expand the figure even further by pursuing solutions on multiple fronts, including relaxing noise standards and coordinating with the Ministry of National Defense.

"We will dramatically accelerate the pace of the project by pushing forward simultaneously on all fronts — compensation, approvals and ground-breaking — to ensure rapid housing supply," LH President Lee said. "We will seek ways to coexist with residents, actively coordinate their feedback with relevant agencies, and build this into a successful model for urban housing supply."