Recruitment of Tenants for 6,000 Jeonse-type Rental Housing Units Begins on the 23rd

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The Ministry of Land, Infrastructure and Transport, Korea Land and Housing Corporation (LH), and Seoul Housing and Communities Corporation (SH) announced on the 21st that they will sequentially recruit tenants for 6,000 jeonse-type rental housing units starting from the 23rd.

The jeonse-type rental housing units being recruited this time include not only existing public rental vacancies and public jeonse housing but also some newly built purchase rental types (for youth and newlyweds). The supply volume totals 6,000 units nationwide, including 2,000 units in Seoul.

LH will convert public rental vacancies (3,090 units), public jeonse housing (264 units), and newly built purchase rental housing for newlyweds (603 units) into jeonse-type units and conduct tenant recruitment.

Jeonse-type rental housing utilizing vacancies can be applied for by any household member without a home, without separate income or asset requirements, and tenants can live for up to 6 years (4 years basic, with a possible 2-year extension if there are no waiting tenants) at a low rent below 80% of the market price. However, to secure opportunities for low-income tenants, in case of competition, tenants will be prioritized according to income level.

Public jeonse housing, which supplies medium-sized houses with three or more rooms on a jeonse basis, can also be applied for by any household member without a home without separate income or asset requirements. Winners are selected by lottery. Tenants can live for up to 6 years (initial 2 years, with two 2-year extensions) at rent below 90% of the market price.

Newly built purchase rental housing for newlyweds involves LH purchasing newly built officetels and other properties from the private sector and supplying them at rents below 80% of the market price. Eligible non-homeowning newlywed couples who meet certain income and asset criteria can live for up to 10 years (6 years basic, with an additional 4 years extension if they have children).

SH Corporation will also convert public rental vacancies (1,061 units) and newly built purchase rental housing for youth (957 units) into jeonse-type units and recruit tenants for a total of 2,018 units.

Jung Suho, Director of the Housing Welfare Support Division at the Ministry of Land, Infrastructure and Transport, said, "We will strive to quickly and affordably supply jeonse-type public rental housing nationwide to ease the housing concerns of those burdened by securing jeonse homes."

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