I want to show the broader role of the Seoul Housing and Urban Development Corporation beyond merely supplying dwellings and providing residential welfare, to include strategic hubs, three-dimensional urban development, and the Han River project.

On the 11th, Hwang Sang-ha, the President of the Seoul Housing and Urban Development Corporation (SH), officially announced the new mission, vision, and name change of the corporation at a launch and vision declaration ceremony held at the headquarters auditorium in Gangnam.

In the afternoon of the 11th, 황상하 SH, the CEO, is announcing a new vision at the launch ceremony of the Seoul Housing and Communities Corporation held at the headquarters of the Seoul Housing and Communities Corporation in Gangnam-gu, Seoul. /Courtesy of 방재혁 기자

Attendees at the event included Oh Se-hoon, the Mayor of Seoul, Lee Jong-hwan, Vice Chairperson of the Seoul City Council, Kim In-je, Vice Chairperson of the Seoul City Council, and Kim Tae-soo, Chairperson of the Housing Space Committee.

The Seoul Housing and Urban Development Corporation (SH) will change its name to 'Seoul Housing and Urban Development Corporation (SH)' and start anew. Previously, on May 19, SH initiated follow-up procedures for the name change, including amending its articles of incorporation, registering as a corporation, and informing relevant organizations and residents of rental housing due to the promulgation of the amendment to the 'Ordinance on the Establishment and Operation of the Seoul Housing and Urban Development Corporation of Seoul Special City.'

The amended ordinance added purposes for establishment such as 'urban development and maintenance,' 'enhancement of citizen welfare and stabilization of residential life,' and 'promotion of local economic development and activation of regional development,' further clarifying the role and identity of the organization.

SH is currently engaged in several major development projects, including the Great Han River Project, the Yongsan International Business District, and the Mirinae House, which enhance the urban competitiveness of Seoul. The name change is aimed at further strengthening the organization's development expertise and know-how.

In the afternoon of the 11th, 황상하 SH, the CEO, is giving the opening address at the launch ceremony of the Seoul Housing and Communities Corporation held at the headquarters of the Seoul Housing and Communities Corporation in Gangnam-gu, Seoul. /Courtesy of 방재혁 기자

President Hwang explained, "This is not merely a name change, but a decision to strengthen the corporation's role and identity in improving the residential welfare of Seoul citizens and enhancing urban competitiveness."

With the name change, SH also declared its new mission and vision. The new mission is to contribute to the enhancement of citizen welfare and stabilization of residential life, and to promote local economic development and activation of regional development. The new vision presents SH as 'an urban specialized public enterprise that creates a charming city of Seoul where citizens are happy.'

Through the vision announcement, President Hwang stated, "Contributing to the enhancement of citizen welfare and stabilization of residential life, along with local economic development and activation of regional development, is SH's new mission," and mentioned core values that all employees should uphold: ▲ citizen happiness ▲ change and innovation ▲ coexistence and cooperation ▲ safety and responsibility.

President Hwang said, "First, we will establish a more robust residential safety net. We will establish differentiated and actionable residential welfare models to enhance citizen welfare, and create a three-dimensional vertical city like the Yongsan International Business District by simultaneously developing transportation facilities and surrounding areas, while also securing damaged greenbelts and available land to restructure the city, planned to be implemented in the Seoripul area."

Additionally, he mentioned plans to create a new urban space at the center of the Han River through the Han River Bus Ferris Wheel and gondola projects.

At the same time, President Hwang noted, "Taking this name change as an opportunity, we will make our role as the sole development-focused public institution in Seoul even clearer and actively promote various development projects for the stabilization of citizen housing and enhancement of Seoul's urban competitiveness."

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