Korea Land and Housing Corp. (LH) plans to have its reform measures accomplished and improve its management system this year. It also pledged to find new growth engines in addition to its traditional responsibilities to ensure its future operation. LH will relocate its head office to Jinju, South Gyeongsang Province, in April, the company said recently.
Last year, the company worked hard to reduce its financial debts for the first time since the takeover of Korea Land Corp. The company cut 7.2 trillion won from its total debts last year and this year. The company will work on searching for new business areas to keep its operation going in the future.
The company has decided to back the government policy to build more low-cost homes around the country under the project named, “Happy Homes.” The company has already picked the Samjon area around Seoul to build low-cost residential homes. It would like to make sure that the public would know that KLHC is the builder of those “happy homes” around the country.
The revival of the old industrial complexes, specialized regional industrial complexes and the Creative Economy Valley is the new area of operation for the land and housing corp. this year.
The company will also focus on the housing management jointly with private companies.
The regional development projects that the company neglected in the past will also be the area that it will take care of seriously with LH aiming to strengthen its reputation as the company responsible for the integrated residential welfare service organization since the government plans to start paying the housing welfare allowance to help people lease their own homes.
The company will also try hard to increase income from the sales of the homes the company built for commercial purposes. LH would like to boost profits from the sales of those homes to increase its earnings by making them attractive, both in prices and quality.
The company will employ new technologies to make those homes more attractive to buyers in such areas as design, construction and others, and get higher prices. The company also plans to hear any kinds of complaints from potential buyers on those houses and take care of them.
In a bid to make those homes sell as fast as they are completed, there will be a tailor-made sales system based on what the potential buyers want out of those houses.
The company will also take care of the homes not yet sold through new sales strategies based on the regions those houses are located and sometimes cutting the prices of those houses if necessary.
The company would go as far as inviting private investments in its housing construction plans to strengthen the sustainability of its projects by reforming such key areas of its operation, including project models, operational process and project management methods.
The company plans to open more than 30 percent of its housing projects to private capital to expand the diversification of the projects.
President Lee Jae-young said he plans to change how the public looks at the company as soon as LH relocates its head office to Jinju, South Gyeongsang Province in April.
