Half-Price Dormitory-Style Youth Housing, Applications Open from the 31st

[Asia Economy Reporter Yoo In-ho] The Ministry of Land, Infrastructure and Transport announced on the 23rd that it will recruit 243 young people to move into dormitory-style youth housing located in Eunpyeong-gu, Dongdaemun-gu, and Gwangjin-gu in Seoul, as well as Ansan-si in Gyeonggi Province, starting from the 31st.

Dormitory-style youth housing is a project introduced to stabilize the housing of university students and young people. It is a "small-scale dispersed dormitory outside school" that operates similarly to a dormitory by purchasing existing houses and installing basic household appliances necessary for living.

The advantage is that it provides living conditions similar to dormitories or one-room apartments on university campuses at less than half the market price.

Last year, a total of eight locations including Guro-gu and Jongno-gu in Seoul were supplied, easing the housing burden for about 1,000 young people. This year, a total of 1,000 households will be supplied, including 300 households in local cities such as Busan and Gangwon.

The dormitory-style youth housing supplied this time will be operated and managed by Korea Land and Housing Corporation, and will be supplied in areas convenient for public transportation such as subways and buses and close to universities.

In fact, the 83 households supplied in Jayang-dong, Gwangjin-gu, Seoul (J Tower) are a 4-minute walk to Guui Station, and the rent is 320,000 KRW per month.

Reflecting the preferences of young people, the housing is supplied in a one-room type including a bedroom and bathroom, and basic household appliances necessary for living such as refrigerators and washing machines are provided in each room. Male and female residents are separated by floor, and CCTV, emergency bells, and gas pipe covers are installed for the safety of residents.

The dormitory fee consists of a deposit of 600,000 KRW and an average monthly rent of about 310,000 KRW, which is less than 40% of the market price. Residents can live for up to six years if they maintain eligibility. Considering the characteristics of university students who live by semester, termination and moving out during the contract period are possible.

Eligible residents are university and graduate students who are currently homeless as of the announcement date and whose monthly average income of themselves and their parents is below 100% of the previous year's urban worker standard (5,626,897 KRW for three persons), and young people aged 19 to 39.

Youth who wish to move in can apply at the LH Online Subscription Center for five days from the 31st to August 4th. After screening eligibility, the selection results will be announced on the 19th of next month.

A Ministry of Land, Infrastructure and Transport official said, "We will further strengthen various forms of housing support to stabilize the housing of young people, including university students facing difficulties due to the novel coronavirus infection."

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