LH to Supply 132,000 Rental Housing Units This Year

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Korea Land and Housing Corporation (LH) will supply 132,000 rental housing units this year. By the end of the year, it will introduce the first 'Integrated Public Rental Housing,' which unifies income and asset criteria.

On the 5th, LH announced that it will supply 132,000 rental housing units this year to accelerate government housing welfare policies such as the Housing Welfare Roadmap.

Among these, 63,000 units will be supplied as 'Jeonse-type housing' to stabilize the Jeonse market early. This quantity includes public Jeonse housing first introduced through the Jeonse measures on November 19 last year. Public Jeonse housing is a type where public housing providers purchase newly built multi-family, multiplex, officetel, and other housing in urban areas and temporarily supply them for two years to middle-class households of 3 to 4 members.

Additionally, LH will focus on improving housing satisfaction for youth, newlyweds, and the elderly by supplying customized housing according to life stages. Non-residential urban facilities such as goshiwon and lodging facilities will be remodeled and supplied to youth and single-person households, and support will be provided for installing shared childcare facilities for multi-child families.

By the end of the year, the Integrated Public Rental Housing, which combines permanent rental, national rental, and Happy Housing into one, will be piloted for the first time. The integrated type is characterized by unifying income and asset criteria, which were previously different for each type. The pilot complexes will be supplied in two newly built complexes in the Gwacheon and Namyangju areas, with about 1,000 units.

The integrated housing eligibility criteria are 150% of the median income, assets below 292 million KRW, and a maximum residence period of 30 years. Rent and other fees will be applied differentially according to income.

LH explained that it will provide enhanced residential life services to increase residents' housing satisfaction. The currently operating residents' mental health service, the 'Ansim (安心) Project,' will be expanded to all complexes, and small libraries within complexes will be converted into multifunctional cultural spaces.

Seo Chang-won, Head of LH Housing Welfare Headquarters, said, "Housing welfare is an essential element for the stability of the nation's homes," and added, "As a specialized housing welfare institution, LH will definitely achieve the goal of establishing a housing safety net that the public can feel."

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