Seongbuk-gu and LH Seoul Regional Headquarters Agree to Open Youth Rental Housing Attached Parking Lot

Maximizing Win-Win Effects Through Parking Space Revenue as Apartment Maintenance Fees

Seungro Lee, Mayor of Seongbuk-gu (right), is signing the agreement and taking a commemorative photo with Seungsik Oh, Director of LH Seoul Regional Headquarters (photo left), at the parking lot opening agreement ceremony held in the Seongbuk-gu Mayor's Office on the 18th. Photo by Oh Seungsik

[Asia Economy Reporter Jongil Park] Seongbuk-gu (Mayor Lee Seung-ro) signed a business agreement with LH Seoul Regional Headquarters (Director Oh Seung-sik) on the 18th to open the attached parking lot of LH-owned youth rental housing (131-1 Hwarang-ro 32-gil, Seongbuk-gu) to solve the parking shortage in urban residential areas.

This agreement considers the low vehicle ownership rate characteristic of youth rental housing and plans to share (open) the vacant parking spaces, allocating them to nearby residents in the form of resident-priority parking.

Moreover, rather than simply sharing space, all allocation revenue will be used for resident welfare projects such as rental housing management fees, creating a triple-win effect benefiting not only parking lot users but also residents providing parking spaces and the local government connecting them.

Lee Seung-ro, Mayor of Seongbuk-gu, said, “We are actively working to solve parking problems by establishing public parking lots, but meeting all parking demands requires enormous costs and there are difficulties such as a shortage of parking lot sites. I express my gratitude to LH Seoul Regional Headquarters and rental housing residents for participating in the attached parking lot sharing project, which seeks solutions through a culture of sharing and cooperation.”

He added, “We will continue to strive to improve residents’ parking convenience by providing idle parking spaces in cooperation with the local community, especially in residential areas with low parking lot acquisition rates.”

The 11 parking spaces opened under this agreement will be available all day for a monthly fee of 40,000 KRW.

For more details, please contact the Seongbuk-gu Urban Management Corporation.

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