[This Person] Why Did Kim Mikyung, Mayor of Eunpyeong-gu, Take on Simultaneous Solutions for Youth Housing and Jobs?

Youth Housing... Over 2,000 Youth Rental Housing Units to be Supplied Near Subway Stations by 2023... Youth Startups... Eunpyeong New Town Section Office Workspaces to Serve as a Hub for Youth Entrepreneurship

Perspective view of the Daejo-dong Station Area Youth Housing (977 units) scheduled for completion in October next year

[Asia Economy Reporter Park Jong-il] Kim Mi-kyung, the mayor of Eunpyeong District, has taken active steps to address youth housing issues and job creation.

Mayor Kim announced plans to supply approximately 2,000 units of youth rental housing near local transit stations for young people in their 20s and 30s who face difficulties securing housing and startup spaces, and to establish office facilities for young entrepreneurs in Eunpyeong New Town.

The district is promoting the supply of a total of 2,000 youth housing units centered around transit-oriented areas. Currently, there are five youth housing projects under construction within the district: one in Gusan-dong, one in Daejo-dong, one in Galhyeon-dong, and two in Bulgwang-dong.

The expected completion dates are October 2022 for Bulgwang Station (Daejo-dong), April 2022 for Gusan Station (Gusan-dong), and August 2023 for Yeonsinnae Station (Bulgwang-dong, Galhyeon-dong).

In particular, the rental fees for youth housing near transit stations will be offered at 30% to 95% of the surrounding market rates, making it an encouraging development for young people struggling with high rents. The youth housing will also include shared facilities accessible to both young residents and the general public. The largest youth housing complex near a transit station, located in Daejo-dong (977 units), will feature sports and cultural facilities such as a swimming pool, the Lee Ho-cheol Literature Museum, and the Korean Senior Citizens Association, as well as office spaces, creating a space that caters to all age groups.

Additionally, for young entrepreneurs, two section offices (small offices), education and sports cultural complex facilities, and lodging facilities will be established in Jingwan-dong, Eunpyeong New Town. The section offices cover a total area of approximately 40,000 square meters and include business lounges, outdoor rest areas, and meeting rooms. The versatile internal facilities will serve as spaces for one-person creators and small startups, becoming a hub for youth entrepreneurship.

Kim Mi-kyung, mayor of Eunpyeong District, stated, “Providing quality housing and startup spaces to young people, who are key to future regional development, will attract many in their 20s and 30s to Eunpyeong District, greatly contributing to the vitality and economy of the area.” She added, “Eunpyeong District will continue to carefully examine what young people need and implement policies that offer practical support.”

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