Seoul City to Use University Area Station-Area Youth Housing as 'Public Dormitories'

[Asia Economy Reporter Onyu Lim] Seoul City announced on the 18th that it will supply the station-area youth housing in Changjeon-dong, Mapo-gu, near Yonsei University, Ewha Womans University, and Sogang University, as 'public dormitories' for university students.

This station-area youth housing is located between Gwangheungchang Station on Line 6 and Sogang University Station on the Gyeongui-Jungang Line. Out of a total of 681 rooms, 120 rooms designated as public rental units have all been allocated as dormitories. On the 7th, 120 university students from nine local governments, including Sokcho City and Changnyeong County, which have signed agreements with the city, moved in. They pay only about 100,000 KRW monthly for maintenance fees without any deposit or monthly rent.

The city provides the space, and the annual dormitory operating cost of 1 million KRW per room and the rental deposit of 33.24 million KRW are borne by the local governments that signed the agreements.

The city explained, "With the supply of construction-type dormitories stalled due to a shortage of available land and opposition from local residents, we have enabled university students to live stably at an affordable cost."

The station-area youth housing project is a business model where Seoul City offers benefits such as zoning upgrades, floor area ratio relaxation, and simplified procedures, and private developers build private and public rental housing, with the public rental units donated to the city.

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