Jeonju City Supplies Rental Housing for Homeless Youth

Supplying 24 Youth Purchase Rental Houses at Rent Below 50% for University Students and Job Seekers
Supporting 18 Social Housing Units at Rent Below 80% for Young Artists

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Tae-in] Jeonju City is providing rental housing where low-income young people can live at an affordable cost.

The city announced on the 15th that it will provide a total of 24 youth purchase rental housing units near Jeonbuk National University to reduce the housing cost burden of young households without homes and support stable housing life.

Youth purchase rental housing is the first in the country where the city directly manages everything from supply to operation by receiving support from the government's Housing and Urban Fund.

The city plans to purchase and remodel multi-family houses by next month and supply them at less than 50% of the surrounding market price to university students and job seekers aged 19 to 39. Last year, 21 units were supplied near Jeonju University.

Social housing for young artists will also be supplied. Social housing is a type of housing where the city purchases privately owned land (buildings) and leases them long-term to social economy entities (project implementers), who are responsible for new construction, remodeling, and operation. A total of 50 units have been supplied from 2017 to last year.

The city will supply 18 social housing units near Seohak-dong Art Village by the end of this year at less than 80% of the market price. These houses will include community spaces and rooftop rest areas for young artists' creative and community activities.

Separately, the city plans to collaborate with Korea Land and Housing Corporation (LH) to supply 18 customized rental housing units for young cultural artists in Palbok-dong.

Song Bang-won, Director of the Ecological City Bureau of Jeonju City, said, “We will continue to supply youth purchase rental housing and Jeonju-style social housing so that young people can enjoy comfortable housing life without worrying about housing costs.” He added, “We will do our best to solve youth housing problems and establish a dense housing welfare safety net.”

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