LH expands modular housing orders… More than 3,500 households next year

Korea Land and Housing Corporation (LH) announced on the 4th that it will expand large-scale orders to revitalize the modular industry and expand housing supply.

Modular homes are completed by manufacturing major structures and equipment in a factory and assembling them on site. The construction period can be shortened by 20 to 30% compared to existing construction methods.

The previous day, LH held a meeting at the Seoul regional headquarters with CEO Seong-Hoon Lee and six modular manufacturers including NRB, Plan M, Yuchang, Geumgang Industrial, Daeseung Engineering, and Zeigeist to discuss this policy.

Accordingly, from next year to 2030, we plan to order more than 3,000 households per year, focusing on the 3rd new city in the metropolitan area, for a total of more than 18,000 households.

This is an increase of 2,000 households from the target of 16,000 households announced last month.

Next year's order volume will increase to more than 3,500 households, which is 1,300 households more than this year's plan (2,200 households).

In order to speed up supply, the method of paying ready-made homes after the modular homes are brought to the site will be improved to a method of paying in accordance with the progress of production at the factory.

We will set unit price reduction targets for modular homes by size and year and introduce a quantity-unit price linkage system that allocates quantity based on cost reduction performance.

President Lee said, “Through the priming of large-scale orders, we will achieve a great transformation in the future housing industry by making bold investments in facilities and increasing unit price competitiveness in the private sector and establishing a K-modular housing ecosystem.”