LH Attaches Top Priority to Realization of Social Values
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LH Attaches Top Priority to Realization of Social Values
Corporation is committed to not only stabilizing people¡¯s housing lives and promoting balanced regional development, but also creating jobs, supporting the underprivileged, and invigorating communities

22(Wed), Apr, 2020




President Byun Chang-heum of Korea Land and Housing Corp.(LH) convenes an emergency management situation session at LH headquarters in Jinju, Gyeongsangnam-do on March 31. (Photo: LH)



Korea Land & Housing Corp. (LH) is committed to succeeding in its responsibility of achieving social values, as well as stabilizing people¡¯s housing lives and promoting balanced regional development.


The corporation is pursuing changes in innovation to create diverse social values, such as supporting the underprivileged and reinvigorating communities.


To this end, LH has attached top management priority to social value conversion and establishing a social value-oriented, mid- and longer strategic management plan. A comprehensive social value plan is also in the works linked to LH CEO¡¯s 13 social value components.


In 2018, LH introduced a social value impacts evaluation regime, so the corporation has reevaluated and overhauled in-house regulations and regimes. Public participation and communications have been widened via the ¡°LH Public Sympathy Committee¡± even prior to the implementation of projects.


The corporation has introduced a social value-oriented project management system by creating a public index based on social values designed to determine new project investments. LH has established social values as top management decision-making priority.


True to the catchphrase ¡°Human-Oriented, Safer LH,¡± the Safety Planning Office and the Safety Planning Team has been inaugurated under the direct jurisdiction of LH¡¯s CEO and Regional Division, respectively.


The corporation has ramped up 200 billion won in the disaster safety budget and manpower. LH has expanded national disaster support. The corporation offered 160 rental houses to victims of an earthquake that hit Pohang in 2017. LH also provided free public houses to victims of bush fires that hit Goseong and Sokcho in Gangwon-do last year.


LH is proactively engaged in job creation. The corporation developed the job creation brand ¡°LH Good Job¡± in 2017. The corporation has implemented good job creation projects.


During the period between 2017 and 2018, LH converted 1,715 temporary employees to permanent status. The corporation hired 826 freshmen employees and 989 youth interns in 2019.


LH is out to realize social values through shared growth. The corporation introduced a contract signing system via competitive dialogue last year. Under the system, LH and bidders set standards on tasks and hold stage-by-stage consultations to pick optimal suppliers.


It opened an integrated technology market platform targeting SOC public entities to give a helping hand to SMEs struggling with market exploration.


LH has overhauled a reasonable construction expense system. The corporation, which established its own roadmap, has spearheaded a drive to get paid what it deserves.


According to the housing welfare roadmap issued by the government in 2017, LH was responsible for constructing 786,000 units or 79 percent of the nation¡¯s total public housing supplies. The corporation contributed to stabilizing public housing life by supplying 103,000 specially-tailored rental units.





LH to Place Record Project & Service Orders Worth 20.5 trillion Won


LH has tentatively established a plan to place project and service orders worth 20.5 trillion won, the most since its founding. The figure represents a two-fold jump over last year, when orders worth 10.3 trillion won were placed, the corporation said on Feb. 24.


In particular, given the hard economic conditions, such as side effects of COVID-19, 7 trillion won, or 34 percent of the value of orders set aside for this year, will be front-loaded in the first half, so the move is predicted to contribute to revitalizing the national economy.


The 2020 H1 execution rate was an increase of 4.6 trillion won, or up 11 percentage points, compared to the same period last year, when orders worth 2.4 trillion.


By project, LH will place projects worth a combined 4.3 trillion won to supply 300,000 apartment units in the Seoul metropolitan area and execute land development. Out of the total, 1.3 trillion won will be poured for place 38 order cases related to occupant residents¡¯ transportation convenience facilities in 20 zones.


As to housing projects related to the housing welfare roadmap, orders worth a combined 16.2 trillion won will be placed to supply 93,000 public housing units and construct life-intensive support facilities.


   
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