Business · Companies · 1 hr ago
LH chief seeks major hiring and financial support to expand housing supply
Lee Seong-hoon, head of South Korea’s Korea Land and Housing Corp.
(LH), told lawmakers the agency needs a large increase in staff to expand housing supply.
He spoke at a parliamentary audit on October 12.
He said LH’s projects have grown in scale and become more complex, and that the agency is discussing hiring plans with government ministries.
Lee also said construction costs have risen by nearly 50% in recent years, leaving little profit from development projects.
He said LH’s debt is growing faster than it can recover and that the agency has asked the government for financial support.
He also described staff pay as among the lowest levels and said improving morale is important to delivering more homes.
LH is seeking government approval for more staff and support, but no decision was reported.
LH chief Lee Seong-hoon said the state-run housing agency needs a large increase in staff to expand housing supply.
He said LH was discussing staffing plans with the transport ministry and other government departments and had asked the government to approve more hires.
Lee also called for government financial support, saying construction costs had risen by nearly 50% and debt was growing faster than it could be reduced.
He said LH employees’ pay was at the lowest level and that improving staff morale was essential to increasing housing supply.
- Who
- LH chief Lee Seong-hoon.
- What
- He called for major staff increases and government financial support to help LH expand housing supply.
- When
- October 12, 2026.
- Where
- At a National Assembly audit in Seoul.
- Why
- LH’s workload and the complexity of its projects have grown, while rising construction costs and debt are worsening its finances.
This story does not have two clearly opposing sides.
We are in a situation where we need to recruit a large number of people.
Construction costs have risen by almost 50%.
If employee morale falls, we cannot supply housing.
Inflation increased, and construction costs rose even more, by nearly 50%, Lee said.
Lee called for more staff and financial support while appearing at a parliamentary audit of LH and other agencies.
- LH chief
- Lee Seong-hoon
- Staffing request
- Large-scale recruitment
- Construction costs
- Nearly 50% increase
- Hearing date
- October 12, 2026
- Pay levels
- Lee said LH staff pay was at the lowest level
Sources
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