LH to Open Applications for 8,667 Happy Housing Units Starting from the 5th

Deposit and Guarantee Reduced to Around 5%...Easing Initial Financial Burden for Youth
4,297 Households Supplied in Seoul Jamsil and Metropolitan Area, 4,370 Households in Daegu Donam and Other Regions
Applications Accepted at LH Subscription Center from May 5 to 14, Winners to Be Announced in October-November

[Asia Economy Reporter Jo Gang-wook] Korea Land and Housing Corporation (LH) announced on the 4th that it will begin accepting applications from the 5th for the integrated recruitment of Happy Housing for the 2nd quarter of 2021.

'Happy Housing' is rental housing supplied to young groups such as university students, youth, and newlyweds to serve as a housing ladder for social advancement. Applicants can move in if they meet the eligibility criteria, income, and asset standards for each type.

In particular, this recruitment will supply Happy Housing in newlywed hope towns for newlywed couples in eight districts.

Hanam Gam-il A-7 (170 households) is adjacent to Suseo Station (SRT) and the Metropolitan Area 1st Ring Expressway, with the new Gam-il Station on Line 3 planned, offering excellent transportation conditions. The complex is expected to be popular among newlyweds as it combines educational facilities such as elementary, middle, and high schools within the complex, along with green environments like Geumam Mountain and Cheonma Mountain.

Sejong Happy 42M3 (199 households) offers excellent access to nearby cities through the Outer Ring Road and BRT, and has excellent residential conditions with public offices and abundant neighborhood living facilities. Additionally, childcare and nursing facilities reflecting newlywed couples' preferences, such as a community caf?, daycare center, and small library, will be established within the complex.

Job-linked Happy Housing for industrial complex workers and small and medium-sized enterprise (SME) workers will also be supplied in six districts nationwide.

Pyeongtaek Godeok A-6 (1,600 households), Bucheon Sangdong (630 households), and Asan Tangjeong 2-A14 (1,139 households) Happy Housing will prioritize 50% of the supply for youth and newlywed couples to SME workers. Points will be awarded based on the duration of employment at SMEs, expanding housing opportunities for SME workers.

From this recruitment, LH will strengthen housing support for youth who have difficulty preparing initial deposits by uniformly reducing the contract deposit from the previous 10% of the rental deposit to 5%.

In the metropolitan area, the contract deposit for Seoul Jamsil and Geumcheon districts, which are the supply targets this time, has been significantly reduced to about 3 to 5 million KRW, greatly easing the initial financial burden on young people.

Applications can be submitted from the 5th to the 14th via the LH Subscription Center and the mobile app 'LH Subscription Center,' with limited on-site applications available for those with limited internet access. The announcement of successful applicants is scheduled for October to November.

For more details, refer to the announcement posted on the LH Subscription Center or the My Home Portal, or contact the My Home Call Center.

An LH official said, "We hope that the affordable rent Happy Housing tailored for newlyweds, industrial complex workers, and SME workers will help reduce housing cost burdens, and we will continue to promote multifaceted housing support, including the reduction of contract deposits."

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