Establishment and Purpose
Korea Land and Housing Corporation (LH) was established with the purposes to enhance the residential environments of the people and promote efficient use of the national territory so as to contribute to boosting the national economy through the acquisition, development, reserve and supply of land, the development and rearrangement of cities as well as the construction, supply and management of housing.
LH has a legal capital of 40 trillion KRW, which is fully financed by the government.
1. Projects regarding the land acquisition, etc. as follows
- a. Acquisition, development, reserve, management, supply and lease of land
- b. Land banking according to『Public Land Reservation Act』
- c. Acquisition of land and buildings according to 『Special Act on the Construction and Development of Innovation Cities』
2. Projects regarding the development of land and cities as follows
- a. Development of land for the development of housing and industrial facilities and land for public facilities prescribed by the Presidential Decree
- b. Urban development, urban regeneration and improvement of urban areas and residential environments
- c. Development of mixed-use complexes under a comprehensive plan for complexes with multi-functions such as residence, industry, education, research, culture, tourism, leisure, administration, ICT, welfare, distribution, etc. and the infrastructure
- d. Reclamation of land
- e. Inter-Korean economic development
- f. Supply of land-leasehold housing
- g. Integrated energy supply
3. Construction, improvement, purchase, reserve, supply, lease and management of housing (including welfare facilities)
3-2. Construction, purchase, improvement, supply, lease and management of buildings for the purpose of public support such as resettlement of residents, start-up support, revitalization of urban functions, etc. as prescribed by the Presidential Decree
4. Entrusted construction, improvement, supply and management of housing or buildings of official or public use
5. Housing welfare projects
6. Entrusted sale and management of land
7. Projects that LH is competent to implement in accordance with relevant laws such as 『Public Land Reservation Act』, 『Urban Development Act』, 『Special Act on Public Housing』, 『Industrial Sites and Development Act』, 『Housing Act』, 『Regional Development Assistance Act』 and 『Housing Site Development Promotion Act』.
8. Construction and supply of public welfare facilities related to the above-mentioned projects, except for Item 6, as prescribed by the Presidential Decree
9. Projects regarding survey, research, testing, development of technology and materials, design, management and informatization and supply of those services
10. Any of the above-mentioned projects, except for Item 4 and 6, entrusted by central or local government or any public entities prescribed in Article 2 Paragraph 9 of 『Special Act on Balanced National Development』
11. Any work related to any of the above-mentioned projects
* LH may make investment in or contribution to any corporation which carries out any of the above-mentioned projects or any other comparable projects and implement any of the above-mentioned projects overseas.
1. Capital and reserves
2. Loans from the government or financial institutions; provided that, for the debts based on the loans from the government such as National Housing Urban Fund under 『Housing and Urban Fund Act』, the repayment will be ranked as a subordinate to the other debts borne by LH for its business purposes.
3. Funds raised by the issuance of corporate bonds
4. Funds raised by asset-backed securitization under 『Asset-Backed Securitization Act』 and other real estate financing prescribed by the Presidential Decree.
5. Asset management revenues
6. Overseas loans
7. Any other revenues