Gyeongnam Province to Provide 800 Million KRW Support for 'Small-scale Multi-family Housing' This Year

3 Billion KRW Increase from Last Year, 49 Complexes with 2,490 Households

Up to 50 Million KRW per Complex within 50% of Total Project Cost

Gyeongnam Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gyeongsangnam-do is expanding its 2022 support project for small-scale apartment complexes to 800 million KRW, an increase of 300 million KRW from last year.

The province will improve aging facilities in small-scale apartment complexes to create a safe and pleasant residential environment and carry out support projects.

Contents of support projects for small-scale multi-family housing complexes by sector.

The project targets small-scale apartment complexes with fewer than 150 households that have passed 20 years since the date of use inspection under Article 49 of the Housing Act or the date of use approval under Article 22 of the Building Act, supporting maintenance and safety management costs for common facilities within the complex.

Up to 50% of the total project cost per complex will be supported, with a maximum of 50 million KRW, and the remaining costs will be borne by the residents themselves.

According to the province, 4.3 billion KRW has been supported for 216 complexes since 2015, and last year the project was carried out on a scale of 500 million KRW.

In March, Gyeongsangnam-do confirmed 49 complexes with 2,490 households as project targets out of 62 complexes with 3,346 households from 11 cities and counties collected through a public contest.

The selection was made based on an evaluation table considering the urgency of the project per complex and regional equity, and the number of households confirmed this year increased by 60% compared to last year's 29 complexes with 1,493 households.

The province plans to receive subsidy grant applications and project plans from the target complexes, notify the grant decisions, and conduct on-site guidance and inspections in the first and second halves of the year to ensure all projects are completed within this year.

Heo Dongsik, Director of the Urban Transportation Bureau, said, “We will continue to make efforts to improve residential environment facilities so that residents' residential welfare and satisfaction can be enhanced.”

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