Naju-si, Ichang District Happy Housing Construction Starts in June

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Naju City, Jeollanam-do (Mayor Kang In-gyu) announced on the 13th that it has completed the procedures for constructing the Ichang District Happy Housing, a public rental housing for vulnerable residential groups, and will begin full-scale construction in June.

The Ichang District Happy Housing is a key policy of the 7th elected administration aimed at reducing housing cost burdens for youth such as university students, young workers, newlyweds who find it difficult to own a home, as well as low-income groups and industrial complex workers. It will be built in the Yeongsanpo Ichang-dong area, a hinterland city of the Innovation Industrial Complex.

Earlier, the city signed a 'Happy Housing Project Implementation Agreement' with the joint implementing agency Korea Land and Housing Corporation (LH) in October 2018, and after receiving project approval from the Ministry of Land, Infrastructure and Transport in December last year, it issued construction orders in March this year, selected a construction company, and plans to start construction in June.

The city plans to invest 16.2 billion KRW to supply a total of 150 units with exclusive areas ranging from 21 to 44 square meters per household at rents lower than the surrounding market prices, aiming for completion in February 2022.

In addition to providing land free of charge for the construction of Happy Housing, the city will also promote improvements to the surrounding environment of the housing site and the maintenance of the public transportation system.

LH will be responsible for housing construction, operation, and management by investing national funds, reserves, and its own budget.

Mayor Kang In-gyu said, “The Ichang District Happy Housing is expected to be a catalyst for the stable settlement of young people taking their first steps into society and low-income vulnerable groups by reducing housing costs, as well as improving residential conditions for industrial complex workers and revitalizing the stagnant Yeongsanpo market economy.” He added, “We will steadily promote the construction of Happy Housing so that citizens can enjoy a pleasant and safe residential life.”

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