'Overcoming the Low Birthrate Crisis'... Mayor Jo Gwang-han, "Special Apartment Supply for Multi-Child Families"

Construction of '200 Multi-Family Housing Units' for Large Families by 2030
Review of Jeonse Loan up to 200 Million KRW and Housing Loan up to 300 Million KRW Starting Next Year

Namyangju Mayor Jo Gwang-han demanded reflection on the government's birth policy and called for innovative changes. [Namyangju]

[Asia Economy Reporter Ra Young-cheol] Mayor Jo Gwang-han of Namyangju City expressed concern over the national system collapse crisis caused by low birth rates and emphasized the need for realistic birth policies.

On the afternoon of the 14th, Mayor Jo held a press conference at the Byeollae Wistay Community Center in Namyangju City and announced, "From 2024 to 2030, Namyangju City will specially supply 200 units of 32-pyeong (84㎡) apartments (Ijoa Town) to ensure housing stability for multi-child families."

The city is planning to supply 50 units of European-style townhouses with terraces and 150 apartment units. Starting next year, they are also considering implementing loans of 200 million KRW for jeonse deposits (10-year maturity, 1% interest) and 300 million KRW for housing funds (30-year repayment, 1% interest).

This corresponds to about 50-60% of the average housing price and jeonse price in Namyangju City.

Mayor Jo cited housing instability and the burden of child education as the biggest reasons for the decline in birth rates.

He particularly criticized, "The government issues policies that do not respond to the market and only seeks credit," emphasizing, "There is a need for housing fund support to realize childcare cost support and rental housing supply policies that reflect actual demand."

Mayor Jo stated, "The government or local governments support half of the childcare costs for children aged 0 to 7, but how to handle the burden of raising children aged 8 to 24 is a government-level issue."

He continued, "The government has invested 225 trillion KRW from 2006 to this year and allocated 46 trillion KRW for next year, spending enormous costs to overcome the low birth rate problem, but South Korea's birth rate remains the lowest among OECD countries."

He added, "I hope housing issues become a national task, but because the current government’s efforts lack trust, I feel a desperate wish that at least Namyangju City could do something about it."

The city plans to continuously prepare local government-level response measures and fundamental solutions for realizing childcare costs for preschool children and housing stability for married couples.

Mayor Jo said, "I earnestly hope to boldly eliminate ineffective policies that have only wasted budgets so far and to open a new horizon by preparing special measures for multi-child families in Korea."

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