Seoul Regional Military Manpower Administration and Gwanak Registry Office to Create 5.5 Million Public Offices and Youth Rental Housing Units by 2025

'2020 7th National Property Policy Deliberation Committee' Held
Utilization of National Property, Creation of Youth Rental Housing and Startup Support Hub

Ahn Il-hwan, Vice Minister of Strategy and Finance, is presiding over the '7th National Property Policy Deliberation Committee Meeting of 2020' held on the 16th at the Seoul Regional Public Procurement Service.

[Asia Economy Reporter Kwangho Lee] By 2025, 550 units of public offices and youth rental housing will be built in Seoul Sin-gil-dong Seoul Regional Military Manpower Administration and near Sadang Station at Gwanak Registry Office.

On the 16th, the Ministry of Economy and Finance held the '7th National Property Policy Deliberation Committee of 2020' at the Seoul Regional Public Procurement Service, chaired by Vice Minister An Il-hwan, to review and approve five agenda items including this matter.

Among the approved agenda items, major points include the redevelopment of aging public offices into a complex of public offices + youth rental housing and the establishment of a youth startup hub.

According to the public office + youth rental housing complex development project plan, by 2025, public offices and 550 units of youth rental housing will be built at the Seoul Regional Military Manpower Administration and Gwanak Registry Office.

Meanwhile, as part of the aging public office complex development project, a total of 16 projects (approximately 2,900 housing units) have been identified so far. Following the groundbreaking of three sites including Yeongdeungpo Election Commission this year, seven sites (about 1,400 units) including Daebang-dong military quarters are scheduled to begin construction next year.

In addition, the former Dongnam Regional Statistics Office building in Busan will be remodeled into a startup support facility and established as the Narakeum Busan Youth Startup Hub.

It will be developed as a startup support space including office space for startups, technology development support, and AI·5G demonstration spaces, and is scheduled to open in early 2022.

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