# South Korea accelerates housing delivery and land repurpose > Live situation record from CLSTR: https://clstr.news/situations/south-korea-lh-leadership-appointment > Updated: 2026-08-26T02:00:00.000Z. Sources: 12. Developments: 8. In early July 2026, President Lee Jae‑myung appointed former presidential secretary Lee Seong‑hoon as president of Korea Land & Housing Corp (LH), ending an eight‑month vacancy. Lee was sworn in on 6 July and reiterated five priority tasks: speeding housing supply, improving public‑home quality, balanced regional growth, AI‑ and ESG‑based management, and safety. He began reorganising LH, announcing the replacement of six directors and the vice‑president to streamline decision‑making for new‑town and public‑housing projects. Since taking office, LH launched 2,306 homes in the Goyang‑Changreung third‑new‑town project and 378 units in Gunpo’s Daeyami public‑rental‑to‑sale conversion. The corporation also accelerated compensation for the Gwangmyeong‑Siheung new‑town, beginning payments on 31 July—four months ahead of schedule—covering 13,000 land and structure owners. Additionally, under the ‘LH Generation‑Resonance Sharing+’ programme, LH is converting vacant space in Gwangju’s Seogu district into a public indoor play facility. To further bolster supply, President Lee ordered a rapid‑innovation team to accelerate the conversion of vacant and non‑residential land—including potential green‑belt releases in Gangnam—into housing. This effort includes speeding up approvals and environmental reviews for stalled projects in Hanam and Bucheon. In late August, the National Assembly passed six legislative bills to support these efforts. The laws provide a legal framework for repurposing aging public offices, closed schools, and abandoned buildings into residential areas. Key measures include the ‘Special Act on the Complex Development of Aging Public Offices’ and a ‘Vacant Building Maintenance and Support Special Act’ to manage abandoned sites. To encourage development, the government will offer incentives such as relaxed floor area ratios for donating renovated vacant buildings to local authorities. Building on these legislative efforts, the government is expanding a program to convert stalled or delayed real estate project financing (PF) sites into public rental housing managed by LH. ## Claims - The government is expanding a project to convert stalled real estate project financing (PF) sites into LH rental housing. (corroborated by 3 sources) - The scope of eligible sites will expand from distressed projects to include normal projects facing potential construction delays due to funding issues. (corroborated by 3 sources) - The purchase method will expand from new construction purchase agreements to include the purchase of existing completed buildings. (corroborated by 3 sources) - The acquisition tax reduction rate for new construction purchase operators will increase from 15% to 70% through 2027. (corroborated by 3 sources) - LH's land acquisition support fund will increase from 70% to a maximum of 80% of land costs. (corroborated by 3 sources) - In regulated areas of the Seoul metropolitan area, the cost method will be applied to reflect rising construction costs in purchase price calculations. (corroborated by 3 sources) - Last year, purchase agreements were signed for 12 sites totaling approximately 2,600 units. (corroborated by 3 sources) - The secured housing will be supplied to youth and newlyweds at rents lower than market rates. (corroborated by 3 sources) ## Timeline ### 2026-08-26: South Korea expands PF site conversion to LH rental housing South Korea is expanding a program to convert stalled real estate PF sites into LH rental housing to provide affordable homes for youth and newlyweds. 5 sources. https://clstr.news/cluster/south-korea-expands-pf-site-conversion-to-lh-rental-housing ### 2026-08-23: South Korea passes laws to repurpose urban idle assets for housing South Korea's National Assembly passed six laws to boost housing supply by repurposing aging public offices, closed schools, and vacant buildings into residential and community spaces. 2 sources. https://clstr.news/cluster/south-korea-passes-laws-to-repurpose-urban-idle-assets-for-housing ### 2026-08-06: South Korean government pushes rapid conversion of non‑residential land to housing South Korea’s president orders rapid conversion of vacant and non‑residential land into housing, using LH and a new fast‑track team, while urging a special law and facing local opposition. 2 sources. https://clstr.news/cluster/south-korean-government-pushes-rapid-conversion-of-nonresidential-land-to-housing ### 2026-07-27: South Korea's LH accelerates housing projects and launches community play facility LH speeds up housing projects, restructures leadership, and adds a public indoor play facility in Gwangju to boost regional amenities. 2 sources. https://clstr.news/cluster/south-koreas-lh-speeds-up-housing-supply-adds-public-playground ### 2026-07-13: South Korea's LH accelerates compensation for Gwangmyeong‑Siheung new town LH started compensation for the Gwangmyeong‑Siheung housing project four months early, covering 13,000 owners and targeting 67,000 homes by end‑2027. 2 sources. https://clstr.news/cluster/south-koreas-lh-accelerates-compensation-for-gwangmyeongsiheung-new-town ### 2026-07-07: South Korea's LH Boosts Housing Delivery Under New CEO Lee Seong-hoon New LH CEO Lee Seong‑hoon pushes rapid housing delivery, launching 2,306 units in Goyang Changreung, 378 in Gunpo Daeyami, and accelerating Seoul’s Seoripul project to add up to 20,000 homes. 2 sources. https://clstr.news/cluster/south-koreas-lh-boosts-housing-delivery-under-new-ceo-lee-seong-hoon ### 2026-07-06: Lee Sung-hoon appointed LH head to accelerate public housing supply Lee Sung‑hoon becomes LH president, vows faster, affordable public housing, quality upgrades, regional balance and organisational reforms. 2 sources. https://clstr.news/cluster/lee-sung-hoon-appointed-lh-head-to-accelerate-public-housing-supply ### 2026-07-03: South Korea names Lee Seong‑hoon as head of Korea Land & Housing Corp Lee Seong‑hoon, former presidential land‑transport secretary, becomes head of Korea Land & Housing Corp, ending an 8‑month vacancy and poised to push public‑housing expansion and LH reform. 3 sources. https://clstr.news/cluster/south-korea-names-lee-seonghoon-as-head-of-korea-land-housing-corp --- Cite as: South Korea accelerates housing delivery and land repurpose. CLSTR, https://clstr.news/situations/south-korea-lh-leadership-appointment