South Korea's LH accelerates compensation for Gwangmyeong‑Siheung new town

The Korea Land & Housing Corporation (LH) announced that the compensation process for the Gwangmyeong‑Siheung public housing district began on July 31, four months earlier than the originally scheduled November start. About 13,000 land and structure owners will receive lump‑sum payments covering land, underground facilities and business rights. The negotiation phase will run for five months, ending at the end of the year, and a reservation system will be available for one month to schedule visits to the compensation office, which has been relocated to the U‑Planet Tower near Gwangmyeong Station.

LH has expanded staff and organizational capacity to speed the project, which spans roughly 12.71 million m² and will deliver 67,000 housing units—including 13,000 for public sale and 24,000 for public rental—by the end of 2027. The site lies in the southwestern Seoul metropolitan area with quick road and rail links to central Seoul, Yeouido, and the Guro‑Gasan digital complex. LH says the accelerated timeline aims to reduce inconvenience for residents and bolster housing supply in the region.