[Alpha Biz=(Chicago) Reporter Paul Lee] The Korea Land and Housing Corporation (LH) and GS Engineering & Construction proposed 91 million won in compensation and 145 million won in cash support to those who are scheduled to move into the AA13 block of Incheon Geomdan, whose entry has been postponed due to the collapse of an underground parking lot.

LH announced on the 21st that it met with the prospective tenants on the 20th with GS Engineering & Construction and presented the compensation plan.

According to LH, the compensation plan includes KRW 145 million in cash support (loan) for each household, KRW 91 million in delayed compensation, and subrogation of intermediate payment loans. This is higher than the compensation for the collapse of I'Park in Hwajeong-dong, Gwangju.

LH explained that it has held a total of 17 consultations with prospective tenants and has prepared the compensation plan based on consultations with GS Engineering & Construction through arbitration by the Ministry of Land, Infrastructure and Transport.

LH calculated the compensation for the delay in moving in at a fixed rate of 8.5% per year on the sale price already paid. About 91 million won will be deducted from the balance for five years based on 84 square meters of contractor.

In the delayed compensation, 50 million won was paid in advance so that it could be used as housing expenses and an additional 5 million won for moving expenses was proposed.

GS Engineering & Construction has raised housing costs for those who are scheduled to move in to 90 million won based on 84 square meters of contractors from the original 60 million won. It also proposed ways to subrogate loans for those who are scheduled to move in.

 

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