Seoul, South Korea – Despite facing a turbulent political climate and a deepening economic recession, Korea Land and Housing Corporation (LH) is set to kickstart long-delayed public housing projects to address the growing housing shortage. The state-run housing provider has opened bids for the development of new public housing sites in Suwon and Goyang, signaling a renewed push to accelerate housing supply.

According to industry sources on Monday, LH has announced the bidding for the development of the Suwon Dansu 2 and Goyang Tanhyeon public housing sites. These projects mark the commencement of construction after years of delays.

The Suwon Dansu 2 public housing site, located in Suwon, Gyeonggi Province, is a ₩800 billion project that will provide housing for approximately 13,000 people. The development will include residential, commercial, and public facilities, with 1,482 units earmarked for young adults and newlyweds under the government's "New:Home" affordable housing program.

The Goyang Tanhyeon project, situated in Goyang, Gyeonggi Province, will redevelop a long-neglected public park into a mixed-use development comprising 3,300 public housing units, along with parks, libraries, and other community facilities.

While both projects were designated years ago, their implementation has been delayed due to various factors, including bureaucratic hurdles, local opposition, and the COVID-19 pandemic. The recent construction industry downturn and public concerns over construction quality, following the collapse of an apartment complex in Incheon, have further complicated matters for LH.

Nevertheless, the government has been urging LH to expedite public housing projects to alleviate the housing shortage and stimulate the economy. LH officials emphasized that the delays were primarily due to necessary procedures such as securing government approvals and coordinating with local authorities. They assured that the corporation will continue to push forward with other housing projects to address the supply shortage.

"Despite the challenges, we are committed to fulfilling our role in providing affordable housing to the public," said an LH official. "We will work closely with the government and local communities to ensure the timely completion of these projects."