Korea Land & Housing Corporation

Korea Land & Housing Corporation, commonly known as LH, is a government-owned South Korean corporation responsible for major elements of the country's public land and housing policy. Its work covers the development of urban land, the creation of housing sites and new towns, the construction and operation of public and rental housing, and the maintenance and management of land and housing. Rather than operating as a conventional consumer-facing brand, LH functions as a public-sector development institution whose projects support national housing supply, urban expansion, regional development, and policy-led real-estate programs. The present corporation was created in October 2009 through the merger of Korea Land Corporation and Korea Housing Corporation. The merger formed part of a government effort to reorganize public corporations, remove overlapping responsibilities, and combine land-development and housing-development capabilities. The resulting institution could manage the full development cycle more directly, from land acquisition and preparation to housing construction and related urban infrastructure. LH's land-development lineage reaches back to the Land Safety Fund, established in 1975, and the Korea Land Development Corporation, established in 1979. This predecessor organization became involved in housing-site development under South Korea's Housing Site Development Promotion Act and later took part in the creation of large planned urban areas. Its work included the first generation of Seoul Metropolitan Area new towns, projects associated with the country's two-million-home construction plan, second-generation new-town development, industrial and innovation-city projects, and the Gaesong Industrial Complex project. In 1996, the organization adopted the name Korea Land Corporation. The housing side of LH's institutional history began with the Korea Housing Corporation, established in 1962. It built early apartment complexes, large-scale residential districts, rental housing, and planned communities. The corporation's projects included the Mapo apartment complex, major Seoul residential developments such as Jamsil, Banpo, Gaepo, and Sanggye, and the development of planned cities including Gwacheon and Bundang. It also participated in the expansion of public rental housing, national rental housing, long-term rental housing, and environmentally oriented housing programs. The housing corporation was designated a green-building certification body in 2002 and later delivered a ten-year public rental apartment project. Following the 2009 merger, LH became one of the central implementation bodies for South Korean housing and land policy. It has been involved in public housing supply, rental housing, urban redevelopment, new-town construction, industrial estates, innovation cities, regional development, and housing-related services. Its apartment and housing brands have included Humansia, Tranchae, Jugong Green Ville, A Thousand Trees, and ANDANTE, although the corporation's broader identity remains institutional rather than purely commercial. LH relocated its headquarters to Jinju in South Gyeongsang Province in 2015 as part of South Korea's broader public-institution relocation and regional-development policy. The move reinforced its role in the development of the country's innovation-city system. Because LH controls or handles large public land and housing programs, it has also attracted substantial public scrutiny. In 2021, allegations that employees had used non-public information to speculate in land connected with planned development projects triggered a national controversy, investigations, calls for reform, and criticism of the corporation's governance and internal controls. The episode became a significant reputational issue for LH while also prompting wider debate about public-sector ethics and real-estate policy.

Korea Land & Housing Corporation is the product of two major institutional traditions in South Korea: public land development and public housing construction. The land-development tradition is associated with the Land Safety Fund, established in 1975, and the Korea Land Development Corporation, established in 1979. The latter undertook housing-site development under the Housing Site Development Promotion Act and became an important instrument in the planned expansion of urban areas. In 1988, it participated in the construction of the first generation of new towns in the Seoul Metropolitan Area under the government's two-million-home construction plan. Bundang, Ilsan, Pyeongchon, and the Middle East new town were among the developments associated with this period. The land organization broadened its role during the 1990s and 2000s. It changed its name to Korea Land Corporation in 1996 and subsequently participated in second-generation new-town projects, including Pangyo, Dongtan, Yangchon, and Okjeong. In 2002, it began the Gaesong Industrial Complex project. In 2007, it launched six innovation-city projects, including the project associated with Gimcheon in North Gyeongsang Province. The government also promoted a third generation of new-town development in the Seoul Metropolitan Area in 2007 as part of efforts to stabilize the housing market. The organization announced a new L+ brand identity in 2008. The housing tradition began with the Korea Housing Corporation, founded on July 1, 1962. It constructed South Korea's first apartment complex at Mapo in the same year and then developed large residential districts, including the Hwagok-dong housing complex. In 1971, it constructed its first rental apartment building. During the 1970s and 1980s, the corporation delivered major apartment complexes in Jamsil, Banpo, and Gaepo, as well as planned communities such as Gwacheon and Sanggye. These projects reflected the rapid urbanization of Seoul and the government's use of large-scale public development to expand housing supply. The housing corporation continued to build planned communities and public housing through the 1990s and 2000s. It was involved in the construction of Bundang and built what was described as the country's first national rental housing project in Suwon in 1998. In 2002, it became a green-building certification body. It later completed a ten-year public rental apartment project in Osan and reached cumulative housing-construction milestones of approximately 1.66 million units in 2005 and 1.95 million units in 2007, according to the referenced institutional history. The Korean government merged Korea Land Corporation and Korea Housing Corporation in October 2009. The stated rationale was to remove overlapping functions, improve the structure of public corporations, combine land and housing capabilities, and support national economic development through a stronger public development institution. The resulting Korea Land & Housing Corporation became responsible for both the development of land in cities and the construction, maintenance, and management of land and housing. After the merger, LH continued work on public housing, rental housing, new towns, urban redevelopment, industrial complexes, innovation cities, and housing-site development. It moved its headquarters to Jinju on May 4, 2015, in line with the relocation of public institutions to regional innovation cities. LH's institutional scale and control over development-related land have made it influential in national housing policy, but have also exposed it to heightened public accountability. In 2021, allegations of employee land speculation connected to planned development areas caused a serious governance crisis. The controversy led to investigations and demands for stricter ethical rules, disclosure requirements, and structural reform. LH remains an active state-owned implementation body in South Korea's land and housing system.

• 2021

  Land-speculation controversy

  [1]Korea Land & Housing Corporationen.wikipedia.org

  Allegations involving employee purchases of land connected to planned development projects led to investigations and demands for organizational reform.

• 2015

  Headquarters moved to Jinju

  [1]Korea Land & Housing Corporationen.wikipedia.org

  LH relocated its headquarters to Jinju as part of South Korea's public-institution relocation program.

• 2009

  Korea Land and Housing Corporation created

  [1]Korea Land & Housing Corporationen.wikipedia.org

  Korea Land Corporation and Korea Housing Corporation were merged to form LH.

• 2008

  L+ brand identity announced

  [1]Korea Land & Housing Corporationen.wikipedia.org

  Korea Land Corporation announced a new L+ brand identity.

• 2007

  Innovation-city projects launched

  [1]Korea Land & Housing Corporationen.wikipedia.org

  Six innovation-city projects were launched, including the project associated with Gimcheon in North Gyeongsang Province.

• 2002

  Gaesong Industrial Complex project begins

  [1]Korea Land & Housing Corporationen.wikipedia.org

  Korea Land Corporation started its involvement in the Gaesong Industrial Complex project.

• 1996

  Land organization renamed Korea Land Corporation

  [1]Korea Land & Housing Corporationen.wikipedia.org

  The Korea Land Development Corporation changed its name to Korea Land Corporation.

• 1988

  First Seoul Metropolitan Area new towns launched

  [1]Korea Land & Housing Corporationen.wikipedia.org

  Development began on the first generation of Seoul Metropolitan Area new towns, including Bundang, Ilsan, Pyeongchon, and the Middle East new town.

• 1979

  Korea Land Development Corporation established

  [1]Korea Land & Housing Corporationen.wikipedia.org

  The land-development organization was formally established as the Korea Land Development Corporation.

• 1975

  Land-development predecessor established

  [1]Korea Land & Housing Corporationen.wikipedia.org

  The Land Safety Fund, identified as the predecessor of Korea Land Corporation, was founded.

• 1962

  Korea Housing Corporation established

  [1]Korea Land & Housing Corporationen.wikipedia.org

  The Korea Housing Corporation was established and constructed an early apartment complex at Mapo, marking an important beginning for large-scale public housing in South Korea.

A national public-sector land and housing developer that combines land preparation, urban planning, public housing construction, rental-housing provision, and asset management in support of South Korean government policy.

• Housing

  Public housing

  LH develops and supplies publicly supported housing as part of South Korea's housing policy. Its housing activities include large apartment districts and policy-driven residential developments designed to expand supply and support households that may not be adequately served by the private market.

• Housing · 1971

  Rental housing

  Rental housing is a central part of LH's public-service role. The corporation's institutional predecessors built early rental apartments, national rental housing, and ten-year public rental apartments. These programs provide longer-term residential options within government-supported housing schemes.

• Urban development · 1988

  New-town development

  LH and its predecessors have developed planned new towns and large residential districts, including projects in the Seoul Metropolitan Area and other regions. Such developments combine prepared land, housing construction, and supporting urban infrastructure to accommodate population growth and manage metropolitan expansion.

• Land development · 1980

  Housing-site development

  Housing-site development prepares land for residential construction and associated infrastructure. It is one of the functions inherited from Korea Land Corporation and enables LH to coordinate land preparation with public and private housing delivery.

• Regional development · 2002

  Innovation-city and industrial-estate development

  LH participates in regional development programs that create innovation cities, industrial complexes, and related urban districts. These projects support the relocation of public institutions, industrial activity, and population beyond the Seoul Metropolitan Area.

• Apartment brand

  Humansia

  Humansia is one of the apartment brands associated with LH's public-housing portfolio. It represents residential developments delivered within the corporation's broader public and rental housing activities.

• Public housing brand

  ANDANTE

  ANDANTE is an LH-associated public-housing brand. It is part of the corporation's effort to identify selected public residential offerings within its wider institutional housing portfolio.

• 2021

  Employee land-speculation controversy

  LH faced a major public controversy after allegations that employees had acquired land in areas associated with planned development projects by using non-public information. The episode raised questions about conflicts of interest, internal controls, employee ethics, and the governance of public land-development institutions. It prompted investigations, political criticism, and demands for stronger disclosure and anti-speculation measures.

  Source

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• 2015

  Relocation of headquarters to JinjuStrategy

  Background

  The move formed part of South Korea's policy of relocating public institutions to regional innovation cities.

  Action taken

  LH transferred its headquarters to Jinju in South Gyeongsang Province.

  Aftermath

  The relocation strengthened LH's institutional presence in a regional innovation-city hub and aligned the corporation with national regional-development policy.

  Source

• 2009

  Merger of Korea Land Corporation and Korea Housing CorporationM&A

  Background

  The South Korean government sought to reduce overlapping functions among public corporations and combine land-development and housing-development capabilities.

  Action taken

  Korea Land Corporation and Korea Housing Corporation were integrated to create Korea Land & Housing Corporation.

  Aftermath

  LH became a consolidated public institution responsible for land development, public housing, rental housing, and the management of land and housing.

  Source

1. 1Korea Land & Housing Corporationen.wikipedia.org