Gyeonggi-do Supports Repair Costs for Small Aged Apartment Complexes Over 15 Years

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will carry out a support project for repair costs for small-scale apartment complexes that have been completed for more than 15 years.

Gyeonggi Province announced on the 13th that it will promote the '2020 Repair Cost Support Project for Aged Small-Scale Apartment Complexes' as a campaign pledge of Governor Lee Jae-myung to provide stable housing conditions for residents living in small-scale apartment complexes facing poor residential environments due to the absence of management entities.

Last year, the province supported a total project cost of 2.7 billion KRW for 210 aged apartment complexes.

This year's support scale is 4.648 billion KRW, an increase of more than 70% compared to last year. The support targets are small-scale apartment complexes with fewer than 150 households and completed more than 15 years ago, as well as row houses and multi-family houses with fewer than 30 households.

The support amount per housing type is up to 40 million KRW per complex based on a project cost of 50 million KRW for apartments, and up to 16 million KRW per building based on a project cost of 20 million KRW for multi-family and row houses.

Shin Wook-ho, head of the Apartment Complex Division of the province, emphasized, "Maximum support is needed for small-scale apartment complexes without management entities and with relatively poor residential environments," adding, "Gyeonggi Province will continue to secure budgets and strive to improve the quality of life for residents by eliminating safety risks in aged small-scale apartment complexes and creating pleasant residential environments."

This content was produced with the assistance of AI translation services.