‘Higher-Speed Community Rail for 3rd Phase Satellite Cities Ready in Time for Moving’

President Lee Han-joon of Korea Land and Housing Corp. (LH) speaks at a meeting of reporters at LH headquarters in Jinju, Gyeongsangnam-do, on May 18.

President Lee Han-joon of Korea Land and Housing Corp. (LH) attached priority on building transformation networks linking 3rd phase satellite cities ahead of occupants’ moving into the cities.

“If the economic situation is bad, an apartment distribution rate may be lowered, but the sooner transportation networks are made available, the higher the apartment sales rate will be, and land and apartment selling prices may go up,” President Lee said at a meeting with reporters at LH headquarters in Jinju, Gyeongsangnam-do, on May 18.

When land lots are sold, President Lee said, transportation is a major factor in which the sales rate and selling prices make a difference. Apartments and commercial facilities may be sold at higher prices when metropolitan means are made available, he said.

The Ministry of Land, Infrastructure and Transport (MOLIT) held a business briefing for the new government in July 2022, in which the government released the principle of building transportation for the 3rd phase satellite cities in advance of those cities being populated.

In early this year, in accordance with the principle, LH inaugurated the “People Housing Innovation Office,” a body responsible for overall transportation affairs, under the direct control of LH president, and the “Prior Transportation Planning Division,” exclusively charged with transportation duties.

LH plans to minimize inconveniences occupants might experience by introducing systems, such as a transportation master planner (TMP), in addition to the inauguration of transportation bodies.

The government has set the goals and guidelines designed to improve transportation for the 3rd phase satellite cities.

It aims to create an urban environment in which occupants may commute to downtown Seoul in less than 30 minutes.

Steps to cope with traffic inconvenience in areas surrounding the satellite cities will be taken, while the implementation period means construction projects will be shortened to minimize inconveniences.

President Lee said the goal of being able to commute to downtown Seoul less than 30 minutes is divided into Gwanghwamun and Gangnam.

“The first and second satellite cities in Changneung in Goyang and Wangsuk in Namyangju, all north of Seoul, is based on Gwanghwamun while the new satellites, south of Seoul, will be based on Gangnam,” he said.

The “30 minute plan” is owed to utilizing railway networks, and Great Train Express (GTX) lines will be linked to Changneung, Goyang, and Wangsuk 1 & 2 District, while Subway Line No. 3 will be extended to Gyosan, Hanam.

A view of a meeting of reporters at LH headquarters in Jinju, Gyeongsangnam-do, in which LH President Lee spoke on building transformation networks linking 3rd phase satellite cities. (Photos: LH)

LH Holds Seminar on Realization of Housing Welfare and Ways of Linking Social Infrastructure

Korea Land and Housing Corp. (LH) hosted a seminar on ways of realizing housing welfare and linking social infrastructure on May 24.

The seminar, which took place at LH’s Gyeonggi South Regional Headquarters, took up the pending social issues, such as jeonse issues on youth’s housing and energy poverty for the elderly generations.

Speakers of each theme were Jin Mi-yoon, head of the Policy Support Team at LH Land and Housing Research Institute, Lee Hyun-kyung, a senior researcher with LH, Yang Hong-suk, a senior researcher with LH, and Nam Ji-yun, a research councilor with Gyeonggi Research Institute.

Jin of LH spoke of the financial situation of jeonse and tenants’ housing jitters.