Customized Youth Shared Housing Development in Gyeongnam Also in Gimhae

Recruitment of Houses for Participation in Turtle House Development Project

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[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongsangnam-do and Gimhae City announced on the 1st that they will promote the Turtle House project, a customized shared housing for youth in Gyeongnam, to alleviate the housing cost burden on young people and improve their vulnerable housing conditions.

The Turtle House, a customized shared housing for youth in Gyeongnam, is a project aimed at enabling young people to live in one house per person.

The Turtle House project involves remodeling houses that are over 15 years old and renting them out as shared housing (share houses) at half the market price to young people such as university students, job seekers, and early career workers in the Gimhae area. The first Turtle House was opened in Changwon City in the first half of this year, and Gimhae City plans to open additional Turtle Houses by December.

Gimhae City is accepting applications for remodeling target buildings within the Gimhae area from the 27th of last month until the 10th of this month. Gimhae City will spend a total project cost of 200 million KRW to remodel 2 to 4 share houses and purchase household goods to supply to the target houses.

The remodeling construction and purchase of household goods will be carried out through the Gyeongnam Development Corporation. Homeowners selected and supported in this Turtle House project must rent to young people at less than half the surrounding market price for six years under an agreement with Gimhae City.

Kang Jong-won, head of the Apartment Housing Division of Gimhae City, emphasized, "We will do our best to improve the double burden faced by young people due to lack of living expenses such as housing costs through housing support."

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