Seoul Jung-gu Provides 550 Million KRW Support for Multi-family Housing Projects

Support up to 110 million KRW for 63 apartment complexes with over 30 households... Up to 70% project cost support, increased to 80% for small vulnerable complexes

[Asia Economy Reporter Jong-il Park] Jung-gu, Seoul (Mayor Seoyangho) will accept applications for the 'Apartment Complex Support Project,' which subsidizes part of the costs necessary to create a pleasant residential environment in apartment complexes, from February 1 to March 10.

The support targets a total of 63 locations (23,410 households), including 62 apartment complexes with 30 or more households within the district and one voluntarily managed complex.

The support budget is 550 million KRW, covering 50% to 70% of the project costs. However, to prevent concentration of funds, the maximum support amount per complex is limited to 110 million KRW.

The district plans to provide up to 80% of the project costs for small apartment complexes with a dedicated area of 85㎡ or less and that have been completed for more than 15 years, focusing on supporting small complexes with weak self-sufficiency.

Eligible projects include ▲ installation and maintenance of security lights and CCTV due to fence or passageway openings ▲ repair of multipurpose facilities used jointly by residents ▲ maintenance of children's playgrounds and restrooms open to nearby residents ▲ installation and renovation of childcare and nursing facilities ▲ repair of outdoor sewage and disaster safety facilities, mainly in the field of common facility maintenance.

Apartment complexes wishing to participate in the project must pass a resolution on whether to apply at the residents' representative meeting, then prepare and submit the application form and project plan to each neighborhood community service center by March 10.

Jung-gu will review the feasibility, legality, and necessity of the applications, conduct on-site inspections of facility aging, and finalize the support targets in April through the deliberation of the Apartment Complex Review Committee.

Selected complexes will proceed with residential environment improvement projects according to their own plans by December. After the project ends, they must settle the subsidy within 30 days and submit the project results.

Meanwhile, last year, Jung-gu supported 32 complexes in the district with about 340 million KRW.

Additionally, from the start of the project in 2006 until last year, a total of 4.43 billion KRW has been invested to contribute to improving living environments.

Seoyangho, Mayor of Jung-gu, said, "Support for facility improvement and management costs will help reduce the economic burden on residents and create a pleasant residential environment," adding, "We will continue to provide steady support focusing on vulnerable apartment complexes."

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