Kim Yi-tak, First Vice Minister of Land, Infrastructure and Transport (MOLIT), visited a small-scale urban housing redevelopment site to pledge financial and administrative support. The visit reaffirmed the government's commitment to accelerating urban housing supply.
Kim visited the block-unit housing redevelopment site in Siheung-dong, Geumcheon-gu, Seoul on the 19th to review the project's progress and the status of fund loan support. The Geumcheon Siheung District 1 project is being jointly carried out by the Korea Land and Housing Corporation (LH) and the redevelopment association, and is currently preparing to apply for a fund loan ahead of project implementation approval.
"Small-scale housing redevelopment projects are an important means of urban supply that can swiftly renovate aging low-rise residential areas," Kim said. "We will utilize available resources to support fund loan demand that is currently unmet." He added, "The supply outcomes that the public can tangibly feel depend on how quickly projects are advanced on the ground. We will minimize factors that delay projects and spare no effort in providing financial and administrative support."
Kim also urged LH to communicate closely with the association and actively support follow-up procedures, including fund loan applications and project management.
