A modular apartment building in Yongin, south of Seoul, is seen in this photo provided by Hyundai Engineering Co.
SEOUL, Aug. 1 (Korea Bizwire) — The Ministry of Land, Infrastructure and Transport said Monday it will establish and execute a roadmap aimed at promoting the supply of industrialized housing, including modular housing.
Under this roadmap, public entities such as Korea Land & Housing Corp. (LH) and Seoul Housing & Communities Corp. (SH) will contribute to the market’s sustainability by placing orders for 3,000 units annually until 2030.
The project will commence with 658 units this year, with the annual order volume increasing to 1,000 units next year and 1,500 units in 2025.
To enhance the economic feasibility of the project, the ministry plans to provide incentives and improve certification systems regarding fire resistance and eco-friendly construction standards suitable for modular houses.
Modular housing can shorten the construction period by over 30 percent and reduce construction waste by employing steel frame structures, which can be recycled up to 90 percent.
However, the limited supply of modular housing results in higher construction costs compared to reinforced concrete construction techniques.
Ashley Song (ashley@koreabizwire.com)
