Gyeongnam Public and Private Sectors Join Hands for Half-Price Market Rate 'Youth Housing' Supply Agreement

On the 31st, Signing of the 2021 Public-Private Partnership Youth Housing Support Project Agreement

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do signed an agreement on the 31st at the provincial office with Changwon City, Samjeong Enterprise, and Gyeongnam Development Corporation to promote the '2021 Private Sector Participation Youth Housing Support Project.'

This project is based on public-private collaboration to provide young people with affordable and comfortable living environments.

Private housing is newly renovated with support for installing necessary basic furnishings, and the supported landlords rent the housing to young people at about half the surrounding market price for six years.

Through this agreement, the province and Changwon City will each support 50 million KRW in project funds for creating youth housing in the Changwon area and will promote project planning and site discovery.

Samjeong Enterprise will donate 100 million KRW for the housing stability of youth in the province, and Gyeongnam Development Corporation will be responsible for remodeling design services and construction, as well as recruiting the initial tenants and implementing the project.

The province plans to make Gyeongnam a place where young people want to live by fully responding to the reduction of youth population outflow through this agreement.

Meanwhile, in April, the province opened the second Turtle House, the first 'Private Sector Participation Youth Housing' in the province, in Gimhae area together with Gimhae City, Jungheung Construction, and Gyeongnam Development Corporation.

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