Gyeonggi Housing & Urban Development Corporation

What Gyeonggi Housing & Urban Development Corporation does

Gyeonggi Housing & Urban Development Corporation (GH) is a regional public corporation (지방공기업) wholly owned by Gyeonggi-do Provincial Government in South Korea, founded in December 1997 as Gyeonggi Innovation Corporation and renamed to its current form in July 2020 to explicitly signal an expanded mandate into housing site development. The corporation executes urban development, housing welfare, and industrial complex projects across all 31 cities and Guns (administrative districts) of Gyeonggi Province, including multi-decade new town developments such as Gwanggyo New Town (31,329 units, 2005-2023), Dongtan-2 New Town (117,295 units, 2008-2024), and Godeok International New Town (59,530 units, 2008-2025), alongside 12+ third-phase new town initiatives running through 2029.

GH's product portfolio spans five core business areas: (1) Urban Development Business (new towns, public housing districts, urban spatial reorganization); (2) Urban Regeneration (residential environment improvement, small housing redevelopment); (3) Industrial Complex Development (notably Pangyo Techno Valley No.2, a 430,000 sqm 4th Industrial Revolution-focused complex with 395 companies under occupancy); (4) Housing Welfare (security deposit assistance, lease-type rental, purchased rental, Sunshine/G-Housing improvement); and (5) Public Housing supply (Gyeonggi Happy Housing at below-market rents, National Rental Housing with 30+ year terms, Permanent Rental Housing for vulnerable classes, Public Sales Housing). Supporting digital services include the GH Housing Subscription Center (apply.gh.or.kr) and GH Land Sales System (buy.gh.or.kr), with SMS notification and a province-wide call center (1588-0466).

GH's business model relies on three revenue streams: (1) one-time land and housing unit sales from developed parcels in new towns and industrial complexes; (2) long-term rental income from public housing programs priced below market rates per government policy; and (3) consignment/agency project fees commissioned by Gyeonggi-do and municipal governments. The corporation holds an AAA credit rating (highest possible, achieved 2010), has received multiple Presidential Awards and Highest Management Assessment grades (2002, 2015, 2017), and partners structurally with the national Korea Land and Housing Corporation (LH) and 12+ municipal urban corporations for joint project execution. GH is headquartered in Suwon-si, Gyeonggi-do, with six regional project groups covering both northern and southern Gyeonggi.

Name

Gyeonggi Housing & Urban Development Corporation

Legal name

Gyeonggi Housing & Urban Development Corporation

Website

https://gh.or.kr

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Gyeonggi Housing & Urban Development Corporation (GH) is a regional public corporation owned by Gyeonggi-do Provincial Government that executes urban development, housing welfare, and industrial complex projects across all 31 cities of Gyeonggi Province, serving residents, SMEs, and municipal government clients.

Ownership category

akta.pro rank

Product category

Public Housing and Urban Development

NAICS

Administration of Housing Programs (92511), Administration of Housing Programs, Urban Planning, and Community Development (925), New Multifamily Housing Construction (except For-Sale Builders) (236116), Administration of Urban Planning and Community and Rural Development (925120)

SIC

Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Self-Performing General Contractors (IMAFAAAI)

akta.pro secondary industries

Residential General Contracting (New Build) (IMAFAAAB), Commercial General Contracting (New Build) (IMAFAAAA)

Keywords

• Public housing development
• Urban regeneration services
• Industrial complex development
• Housing welfare programs
• New town development

Headquarters

HQ city

Suwon-si

HQ country

South Korea

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Others

Revenue model

1. Land Development and Sales: Acquisition, development, reserving, and supply of land for residential land development. GH develops new towns and urban districts, then sells developed land parcels to homebuyers and developers.
2. Housing Construction and Supply: Construction, supply, lease, and management of homes. GH builds public rental housing, Happy Housing, national rental housing, permanent rental housing, and public sales housing, supplying units at below-market prices for housing stability.
3. Consignment/Agency Projects: GH engages in consignment projects commissioned by Gyeonggi-do and local governments, including knowledge-based industrial site development, provincial park management, office construction, and Pangyo Techno Valley No.2 management. Revenue is generated through project fees and commissions from government clients.
4. Industrial Complex Development: Creation and management of industrial complexes. GH develops urban industrial complexes such as Pangyo Techno Valley No.2 and others, selling or leasing industrial lots to companies, generating revenue through lot sales and long-term lease income.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Gyeonggi Housing & Urban Development Corporation (GH) is a regional public corporation that develops new towns, urban districts, and industrial complexes; supplies public rental and sales housing; delivers housing welfare programs for low-income and vulnerable residents; and undertakes urban regeneration projects. Its core services span the full housing lifecycle from land acquisition and development through construction, supply, lease, and long-term management, serving the residents of Gyeonggi Province under mandates commissioned by the provincial government.

Product overview

Gyeonggi Housing & Urban Development Corporation (GH) operates as a comprehensive urban development and housing welfare organization managing multiple interconnected products and services. The core offering consists of Urban Development Business (including new town projects like Gwanggyo New Town, Dongtan-2, and Godeok International New Town), Urban Regeneration projects, Industrial Complex Development (notably Pangyo Techno Valley No.2), Housing Welfare programs (lease-type rental, purchased rental, security deposit assistance), and Public Housing supply (Gyeonggi Happy Housing, National/Permanent Rental, Public Sales Housing). Supporting digital services include the GH Housing Subscription System and GH Land Sales System. The corporation also operates Agency Business managing consigned projects from local governments. In 2020, GH introduced its 'Nature&' brand identity representing housing spaces that develop together with people.

Differentiator

Problem solved

Functional benefit

Products and services

• Urban Development Business Comprehensive urban development covering second-phase new towns (Gwanggyo, Dongtan-2, Godeok International), third-phase new towns, public housing districts, and balanced urban development across all 31 cities and Guns of Gyeonggi-do. Includes planning of social infrastructure, living convenience facilities, public facilities, and urban spatial reorganization ensuring job-housing proximity for residents.
• Urban Regeneration Quality-of-life residential environment improvement through reorganization of existing cities, improvement of aging building structures, modification of industrial structures, and expansion of new urban districts. Includes small housing redevelopment and Urban Regeneration New Deal projects targeting deteriorated downtowns and aging residential neighborhoods.
• Industrial Complex Development Development and management of industrial complexes for local economy vitalization and job creation. Includes urban industrial complexes such as Pangyo Techno Valley No.2 (430,000 square meters, 395 companies under occupancy) focusing on the 4th Industrial Revolution and start-up ecosystem, as well as general industrial complexes across Gyeonggi.
• Housing Welfare Rental housing welfare programs including lease-type rental of existing houses, purchased rental, rebuilding/redevelopment purchased rental, security deposit assistance (capped at KRW 250 million for houses under 85 square meters), Sunshine Housing, G-Housing, and disabled-accessible housing renovations for low-income and vulnerable households.
• Public Housing Project Public housing supply including Gyeonggi Happy Housing (below-market rental utilizing state-owned land for young and newly-wed), National Rental Housing (30+ year rental backed by public finances), Permanent Rental Housing (for vulnerable non-homeowners), 20-year Long-term Deposit-based Rental (Gyeonggi REIT No.1: 1,612 units), 10-year Public Rental Housing (convertible to sales), and Public Sales Housing.
• Agency Business Consignment projects commissioned by local governments and Gyeonggi-do. Includes management of Pangyo Techno Valley No.2, knowledge-based industrial site development (e.g., Gwacheon Knowledge Information Town — 219,000 square meters, 27 lots, KRW 851.1 billion), provincial park management, office construction (e.g., Gyeonggi-do New Office Complex), and the verification complex for autonomous driving at Pangyo Zero City.
• Gwanggyo New Town Eco-friendly and self-sufficient city development combining job, life, and leisure facilities. Project area: 11,304,000 square meters; household capacity: 31,329 units / 78,323 people; project period: 2005-2023; project operators: Gyeonggi-do, Suwon-si, Yongin-si, and GH.
• Dongtan-2 New Town Large-scale new town combining knowledge industry, business, leisure, and cultural facilities. Project area: 24,039,000 square meters; household capacity: 117,295 units / 285,878 people; project period: 2008-2024; project operators: GH and Korea Land and Housing Corporation (LH).
• Godeok International New Town Urban center for globalization and world-class settlement environment. Project area: 13,360,000 square meters; household capacity: 59,530 units / 144,983 people; project period: 2008-2025; project operators: Gyeonggi-do, GH, LH, and Pyeongtaek Urban Corporation.
• Pangyo Techno Valley No.2 State-of-the-art urban industrial complex for 4th Industrial Revolution industries, start-up ecosystem, and job creation. Total project area: 430,000 square meters (District 1: 212,000 square meters; District 2: 218,000 square meters); 395 companies under occupancy agreement; project period: 2015-2021; project operators: Gyeonggi-do, Seongnam-si, GH, LH.

Quantifiable outcome

• 31 cities and Guns covered across Gyeonggi Province with balanced development
• +6 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

20 partnerships are on record, tiered core, major and minor.

• Korea Land and Housing Corporation (LH)coreStrategic or Co-development PartnerLH (Korea Land and Housing Corporation) is a key co-project operator with GH on major new town developments including Gwanggyo New Town, Dongtan-2 New Town, Godeok International New Town, and third-phase new towns (Gwacheon, Gyosan-dong Hanam, Jangsang-dong Ansan, Changneung Goyang). LH provides national housing fund support and serves as the national-level counterpart to GH's provincial mandate.
• Seongnam-sicoreStrategic or Co-development PartnerSeongnam-si co-operates with Gyeonggi-do and GH on Pangyo Techno Valley No.2 development (whole area of Siheung-dong/Geumto-dong, 430,000 square meters, 2015-2021), Geumto Seongnam (Pangyo 3) new town project (583,000 square meters, 3,671 units, 2018-2024), and other urban development projects within the city.
• Pyeongtaek Urban CorporationcoreStrategic or Co-development PartnerPyeongtaek Urban Corporation co-operates with GH on the Pyeongtaek Poseung (BIX) industrial complex project (2,046,000 square meters, 2012-2020) and Godeok International New Town (13,360,000 square meters, 59,530 units, 2008-2025).
• Gwangmyeong-simajorStrategic or Co-development PartnerGwangmyeong-si partners with GH on the Gwangmyeong Siheung Urban High-tech Industrial Complex (whole area of Gahak-dong, Gwangmyeong-si & Nongok-dong, Siheung-si, 493,000 square meters, 2019-2024) and the Gwangmyeong Hagon District new town project (683,000 square meters, 5,007 units, 2020-2026).
• Yeoncheon-gunmajorStrategic or Co-development PartnerYeoncheon-gun partners with GH on the Yeoncheon BIX (Euntong) General Industrial Complex (600,000 square meters, 2016-2022) for balanced growth in the northern border area and vitalization of local economy.
• Yangju-simajorStrategic or Co-development PartnerYangju-si partners with GH on the Gyeonggi Yangju Techno Valley (218,000 square meters, 2019-2024) for structural advancement of manufacturing businesses in northern Gyeonggi, and the Yangju Eunnam General Industrial Complex (992,000 square meters, 2016-2023).
• Anseong-simajorStrategic or Co-development PartnerAnseong-si partners with GH on Anseong Industrial Complex 5 (formerly Anseong Small-and-Medium Enterprise Complex, 709,000 square meters, 2017-2025) to resolve SME location problems in the capital area.
• Goyang Urban Management CorporationcoreStrategic or Co-development PartnerGoyang Urban Management Corporation co-operates with Gyeonggi-do, GH, and Goyang-si on Goyang Ilsan Techno Valley (872,000 square meters, 2016-2024) and the Changneung new town project (7,890,000 square meters, 40,162 units, 2020-2029).
• Hanam Urban CorporationcoreStrategic or Co-development PartnerHanam Urban Corporation co-operates with Gyeonggi-do, GH, and LH on the Gyosan-dong Hanam third-phase new town project (6,314,000 square meters, 33,037 units, 2019-2028).
• Ansan Urban CorporationcoreStrategic or Co-development PartnerAnsan Urban Corporation co-operates with Gyeonggi-do, GH, and LH on the Jangsang-dong Ansan third-phase new town project (2,213,000 square meters, 15,844 units, 2020-2027).
• Yongin Urban CorporationcoreStrategic or Co-development PartnerYongin Urban Corporation co-operates with Gyeonggi-do, Yongin-si, and GH on the Platform City Yongin project (2,757,000 square meters, 11,088 units, 2019-2029) as part of the third-phase new town initiative.
• Gwacheon Urban CorporationcoreStrategic or Co-development PartnerGwacheon Urban Corporation co-operates with Gyeonggi-do, GH, and LH on the Gwacheon third-phase new town project (1,687,000 square meters, 7,169 units, 2019-2025) for supply of housing site for 300,000 units in the capital area.
• Anyang Urban CorporationcoreStrategic or Co-development PartnerAnyang Urban Corporation co-operates with GH on the Anyang Gwanyang Urban Development project (157,000 square meters, 1,345 units, 2019-2024) and the Anyang Naengcheon Residential Environment Improvement Project (first-ever urban redevelopment project by GH, 119,000 square meters, 2,329 units, 2016-2025).
• Icheon-siminorStrategic or Co-development PartnerIcheon-si partners with GH on the Icheon Daewol General Industrial Complex 2 (2021-2025) for balanced regional growth in the natural preservation area of Gyeonggi-do.
• Yangpyeong-gunminorStrategic or Co-development PartnerYangpyeong-gun partners with GH on the Yangpyeong Yangdong General Industrial Complex (59,000 square meters, 2020-2025) for job creation and vitalization of the underdeveloped northern Gyeonggi region.
• Paju-siminorStrategic or Co-development PartnerPaju-si partners with GH on the Paju Beobwon General Industrial Complex 1 (305,000 square meters, 2020-2025) for balanced regional development and improvement of metropolitan transportation in Gyeonggi-do.
• Gwangju-sicoreStrategic or Co-development PartnerGwangju-si co-invests in the Gwangju Station Area Urban Development project (4,891,000 square meters, 2,303 units, 2015-2022) with GH holding 70%, Gwangju-si 28%, and Gwangju Urban Management Corporation 2%.
• 금조산업 (Geumjo Industries) — CCTV ContractorminorImplementation/ SI/ Consulting PartnerGeumjo Industries is a CCTV contractor for GH's fixed CCTV system at the headquarters building, providing installation and management services for surveillance cameras (157 units as of the latest data).
• (주)에스원 (S1 Corporation) — CCTV ContractorminorImplementation/ SI/ Consulting PartnerS1 Corporation is a CCTV contractor for GH's headquarters building CCTV system, providing security and surveillance services.
• (주)진돗개 보안 (Jindotgaeg Security) — CCTV ContractorminorImplementation/ SI/ Consulting PartnerJindotgaeg Security is a field site CCTV contractor for GH, providing on-site security surveillance services.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Daegu Urban Development Corporation (DUDI): Daegu metropolitan regional public corporation for urban development, housing welfare and industrial complexes. Mirror structure of GH, delivering public rental housing, urban regeneration and balanced-development projects in the Daegu region.
• Incheon Urban Development Corporation (IUDC): Incheon's public housing and urban development corporation, executing new-town, public rental and industrial-complex projects in the Incheon Free Economic Zone and broader metropolitan area. Direct structural peer of GH in mandate and operating model.
• Korea Land and Housing Corporation (LH): National-level public corporation operating the same housing supply, new town development and National Rental Housing mandate as GH, but at country scale. LH is GH's primary joint-operator on flagship projects (Dongtan-2, Godeok, Gwanggyo) and the source of National Housing Fund flows.
• Seoul Housing & Communities Corporation (SH Corporation): Seoul's municipal housing and urban regeneration corporation, structurally analogous to GH for the Seoul metropolitan area. Operates the same SHift public rental brand, public sales housing, and urban regeneration mandate within Seoul.
• Busan Urban Development Corporation: Busan's provincial public corporation for urban development and housing welfare. Same local-public-enterprise (지방공기업) structure as GH, with parallel new-town, public rental and urban regeneration programs serving the Busan region.
• Daejeon Urban Development Corporation: Daejeon metropolitan public corporation for urban development and housing welfare; same 지방공기업 structure as GH with parallel new-town, public rental, and urban regeneration mandate within the Daejeon region.
• Gwangju Urban Development Corporation: Gwangju's provincial public corporation for urban development and housing programs; directly comparable in scale, mandate (housing welfare, new-town, industrial complex), and 지방공기업 governance structure.

Broad incumbents

• Korea Housing Finance Corporation (HF): National policy-driven mortgage and housing finance institution that channels long-term funding for housing programs including those GH participates in. Comparable as a public-sector housing finance enabler upstream of GH's development activities.
• Korea Industrial Complex Corporation (KICOX): National industrial-complex operator that markets and manages industrial sites across Korea. Comparable to GH's Pangyo Techno Valley No.2 and provincial industrial-complex development business at national scale.

Others

• Korea Real Estate Board (REB): Government-affiliated real estate market data, transaction platform and policy support entity. Adjacent to GH's housing subscription and land sales systems, providing comparable digital service infrastructure for Korea's housing market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC4V9wPROpkKjZ8_cSTIvB3g?view_as=subscriber
• Facebookfacebook.com/gh.or.kr
• Instagraminstagram.com/gh_official_insta
• LinkedInlinkedin.com/company/gyeonggi-urban-innovation-corporation

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gyeonggi Housing & Urban Development Corporation