Seoul Housing and Land Corporation (SH) officially announced on the 11th that it will change its name to 'Seoul Housing and Urban Development Corporation (SH)'. SH explained that this name change aims to strengthen its role and identity as a specialized public institution driving the housing welfare of Seoul citizens and the global competitiveness of the city.
On that day, SH will hold the 'Inauguration Ceremony and Vision Declaration Ceremony of the Seoul Housing and Urban Development Corporation' at its headquarters auditorium in Gangnam-gu, officially declaring its new name, mission, and vision. The event is expected to be attended by Oh Se-hoon, the Mayor of Seoul, Lee Jong-hwan, the Deputy Chairperson of the Seoul City Council, Kim In-je, the Deputy Chairperson of the Seoul City Council, and Kim Tae-soo, the Chairperson of the Housing Space Committee.
Following the promulgation of the amendment to the 'Ordinance on the Establishment and Operation of the Seoul Housing and Urban Development Corporation' on May 19th, SH has been proceeding with subsequent procedures without disruption, including amending its articles of incorporation for name change, company registration, and informing relevant agencies and residents of rental housing.
SH explained that the amended ordinance has further clarified the institution's role and identity by adding purposes such as 'urban development and maintenance,' 'enhancement of citizen welfare and stabilization of residential life,' and 'promotion of regional economic development and revitalization of local development' to its establishment objectives.
SH is currently undertaking major development projects to enhance Seoul's urban competitiveness and plans to further strengthen its development expertise and know-how through this name change.
Along with the name change, new missions and visions will also be announced. The new mission is to 'contribute to the enhancement of citizen welfare and stabilization of residential life and to contribute to regional economic development and revitalization of local development.' The new vision is 'to become a specialized urban public enterprise that creates a charming city of Seoul where citizens are happy.' Through this vision, SH aims to contribute to balanced development in Seoul and improve the quality of life for citizens, aspiring to become a key public enterprise that enhances the brand value of Seoul.
Meanwhile, despite the change of corporate name, the existing abbreviation 'SH' will be maintained. The plan is to use the new name of the institution alongside the existing brand recognition accumulated over a long period during communication and promotion to citizens.
SH was launched in 1989 as the 'Seoul Urban Development Corporation,' changed its name to 'SH' in 2004, and then to 'Seoul Housing and Land Corporation' in 2016, leading to the present.
Hwang Sang-ha, the President of SH, stated, 'With this name change, we will clarify our role as the only specialized public institution for development in Seoul and actively promote various development projects to ensure housing stability for citizens and strengthen the urban competitiveness of Seoul.'