LH to increase legal capital by KRW 15 trillion "laying the foundation for expanding housing supply"

The Korea Land and Housing Corporation (LH) announced yesterday (14th) that the National Assembly passed an amendment to the Korea Land and Housing Corporation Act, which will increase its legal capital by 15 trillion won from 50 trillion won to 65 trillion won.

According to the relevant regulations, LH cannot receive investment from the government in excess of the legal capital, but as of this month, LH's cumulative paid-in capital was 48.7 trillion won, which was close to the legal capital.

LH said the revision of the construction law passed the National Assembly plenary session, laying the groundwork for a stable push for the supply of public rental housing.

It is expected that the increase in paid-in capital will also help improve LH's financial soundness, such as reducing the debt ratio.