Government to Improve Subscription System Related to 2·4 Measures... "No Disadvantages for Public Housing Sales"

On the morning of the 4th, at the auditorium of the Government Seoul Office Annex in Jongno-gu, Seoul, Minister of Land, Infrastructure and Transport Byeon Chang-heum is answering questions during the briefing on the "Public-led 3080+ Drastic Expansion Plan for Housing Supply in Metropolitan Areas." / Photo by Joint Press Corps

[Asia Economy Reporter Kangwook Cho] The government plans not to restrict the subscription opportunities of existing subscription savings account holders in relation to the 2·4 supply measures.

According to the government and related industries on the 6th, the Ministry of Land, Infrastructure and Transport stated, "We will ensure that there are no disadvantages based on the type of subscription savings account when applying for public sale apartments supplied under the 2·4 measures."

Previously, the government announced that it would focus on supplying public sale apartments by conducting public-led development projects under the 2·4 measures.

However, under the current system, only holders of subscription savings or comprehensive subscription savings accounts can apply for public sale apartments with an exclusive area of 85㎡ or less. This has raised concerns that holders of subscription deposits or subscription installment savings might be relatively disadvantaged.

Currently, there are four types of subscription savings accounts: subscription savings, whose new subscriptions have been suspended since September 2015; subscription deposits; subscription installment savings; and the Housing Subscription Comprehensive Savings, launched in April 2009.

The Housing Subscription Comprehensive Savings allows applications regardless of type, but for subscription savings, subscription deposits, and subscription installment savings, subscribers must choose either public or private housing to apply for.

This causes a problem where existing subscription savings account holders who chose private housing cannot apply when the government supplies public sale apartments.

Regarding this, the Ministry of Land, Infrastructure and Transport explained, "Among the supply quantities under this housing supply expansion plan, for houses of 85㎡ or less, we plan to improve the system so that subscription opportunities are not unfairly reduced based on the subscription savings account."

It is explained that the supply quantity of 85㎡ or less takes into account the special nature of being supplied quickly with public participation from quantities that were originally likely to be supplied as private housing.

As a result, holders of subscription deposits and installment savings are expected to be able to apply for public sale apartments of 85㎡ or less that will come out under the government's new supply policy.

A Ministry of Land, Infrastructure and Transport official said, "Detailed implementation plans will be announced later considering the subscription timing comprehensively," and added, "The exact subscription savings accounts eligible have not yet been decided."

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