Korea Land and Housing Corporation (LH) has begun compensation procedures for the Gwangmyeong-Siheung public housing district, the largest of the third-phase new town developments, four months ahead of the original schedule.
LH said on the 14th that it had begun the negotiated compensation process for the Gwangmyeong-Siheung public housing district. On the 9th, it sent compensation guidance notices to owners of land and fixtures within the district, moving the start of compensation forward by about four months from the originally planned November. The corporation also expanded personnel and organization in advance to accelerate the project.
The number of people eligible for compensation applications totals approximately 13,000. To ensure smooth processing, LH established and relocated the Gwangmyeong-Siheung Compensation Office to the fourth floor of the U-Planet Tower in front of Gwangmyeong Station.
The negotiation process will run for five months, from the 31st of this month through the end of this year. It takes the form of comprehensive compensation for land, fixtures, and business rights. Based on communication with residents, LH plans to promptly disburse compensation within the year while continuing follow-up procedures such as relocation and livelihood measures, targeting the start of construction at the end of next year.
The Gwangmyeong-Siheung public housing district is the largest public housing project among the third-phase new towns, supplying 67,000 households across an area of approximately 12.71 million square meters. It is a key project site for housing supply and expanding self-sufficient functions in the southwestern part of the Seoul metropolitan area. Bordering Seoul, it offers easy access to major business districts such as Yeouido and the Guro and Gasan Digital Complexes. Its accessibility using the wide-area road network, including Gwangmyeong Station (KTX), the First Seoul Metropolitan Ring Expressway, the West Coast Expressway, and the Second and Third Gyeongin Expressways, is also excellent, drawing attention as a central location within a wide-area living zone.
Nearby are the Gwangmyeong-Siheung Techno Valley, the Gwangmyeong Station International Business District, and the Siheung Smart Hub, giving it strong links to the existing industrial and economic base. It is expected to grow into a "self-sufficient city where residents can live near their workplaces."
For residents' convenience and swift processing, LH will operate a reservation system for one month from July 31, the start date of the negotiation process. Residents can access the reservation system website and select their district and reservation date and time. "The Gwangmyeong-Siheung public housing district is a core national project that will build a future growth axis in the southwestern part of the Seoul metropolitan area," an LH official said. "We will proceed without disruption to ease residents' inconvenience and expand housing supply in the metropolitan area."
