Smart City Solution

LH president Park Sang-woo said the company plan to export the smart new town solution of “K-City” as the company’s new source of earnings.
LH president Park Sang-woo said the company plan to export the smart new town solution of “K-City” as the company’s new source of earnings.

 

On April 21, one month after his inauguration, LH president Park Sang-woo announced his plan to lead LH, the largest public construction enterprise in Korea.

“Through our effort in foreign markets, we will make an outlet of the staled national economy,” said Park. “We plan to export the smart new town solution of ‘K-City’ as our new source of earnings, in which our knowhow of developing new towns and advanced technology of the civilian sector are well combined.” 

CEO Park stated that Korea has strong competitiveness among OECD member countries in developing new towns. He said, “Korea is the only country, among the OECD members, that is long experienced in developing large-size new towns and necessary housing lot in the past 30 years.” He added, “We run K-City Team, which will make a new outlet of Koran economy when the team works in cooperation with builders and banks.” Park continued, “The population grows, somewhere in the world, as large as a metropolitan city population, which means they need more housing and towns. Such circumstance will be a good opportunity for LH who has been long experienced in that field.”

LH is targeting the Middle Eastern countries, India, and so on, which have strong demand for new towns.

Concerning urban regenerations and regional developments, which are considered LH’s future business areas, LH has determined to discard its past stereotype layout design by taking the method of analyzing the LH real estate DB (Database; GIS) and Big-Data about the overall city function.

“LH is going to transform itself into a comprehensive service agency of housing welfare” said CEO Park. “Within this year, we are going to install a one-stop system in which a subscription, contract, contract renewal, cancelation, rent payment, etc can be done on line at a time.” 

He also added, “If our initiatives for the business enforcement are worked out as planned, LH will be a new organization that will autonomously develop its own future, unlike the previous LH which reluctantly followed the government policies or jumped on the environmental bandwagon. 

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