"Teomunineun Jip·Huimang Ajiteu"... SH Corporation Creates Youth Spaces Using Vacant Houses

Providing Housing and Activity Spaces to Youth Organizations, Support Including 'Youth Self-Reliance Savings'
Expectations for Utilizing Vacant Houses, Regional Regeneration, and Revitalization... Recruitment of Resident Organizations Next Month

[Asia Economy Reporter Yuri Kim] Youth spaces utilizing vacant houses in Seoul will be created.

Seoul Housing and Communities Corporation (SH Corporation) announced on the 20th that it will recruit tenants starting next month to create the 'Termuni-neun SH Hope Agit,' which will be used as activity spaces for youth organizations, as one of the ways to utilize vacant houses.

The 'Termuni-neun SH Hope Agit' created by SH Corporation is a social overhead capital (SOC) facility that provides youth with residential and activity spaces by converting vacant houses in Seoul into complex spaces combining housing and workplaces, offering opportunities for economic independence.

SH Corporation plans to establish more than five Hope Agits within this year, starting with Bongcheon-dong and Jeongneung-dong. They plan to expand further after gauging youth responses.

SH Corporation intends to house not individuals but social economy entities, specifically 'youth organizations,' in these Hope Agits. Cooperatives, social enterprises, and non-profit organizations composed of youth aged 18 to 39 can apply. Even prospective organizations are granted tenant qualifications to broaden opportunities.

On the previous day, SH Corporation signed a business agreement with the Social Investment Support Foundation and the National Credit Union Federation of Korea to ensure smooth supply and activation of the Hope Agits. According to this agreement, SH Corporation will create Hope Agits in vacant houses and recruit tenant organizations to reside there. The Social Investment Support Foundation will support the tenant organizations' deposit guarantees and assist in the establishment and operation of cooperatives and social enterprises centered on resident youth. The National Credit Union Federation of Korea will develop and support the 'Youth Self-Reliance Savings Account' (7% special preferential interest rate, regular savings) to promote the economic independence of resident youth.

This agreement significantly reduces the burden on tenant organizations. SH Corporation explained, "The monthly rent burden per tenant is about 20,000 KRW (excluding foundation payments), which is drastically lower compared to surrounding market prices," adding, "This is to minimize the burden on youth and open various possibilities such as establishing a foundation for independence."

Kim Seyong, President of SH Corporation, said, "'Termuni-neun SH Hope Agit' is a new attempt to transform neglected vacant houses into economic ladders supporting youth economic independence," and added, "We hope it becomes a true Hope Agit for the future of youth."

Meanwhile, since last year, SH Corporation has been promoting a vacant house utilization urban regeneration project by purchasing more than 200 vacant houses and supplying them as social housing, youth rental housing, and living SOC.

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