Won Hee-ryong, Minister of Land, Infrastructure and Transport: "Supply 500,000 Youth Housing Units... Launch Loan Products Supporting 80% of Sale Prices"
[Asia Economy Reporter Kim Min-young] On the 16th, Won Hee-ryong, Minister of Land, Infrastructure and Transport, announced a housing welfare plan to supply 500,000 youth housing units at affordable prices in excellent locations for young generations, including youth who lack opportunities to accumulate assets.
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Minister Won Hee-ryong, during his YouTube inauguration ceremony held at the Government Sejong Complex on the same day, responded to a question about housing welfare measures for young people to own their homes by saying, "We will announce a concrete business model and target locations as soon as possible," adding, "We will also launch a loan product that supports 80% of the sale price and improve the subscription system by increasing young people's chances of winning subscriptions and implementing a lottery system." He further stated, "We will gradually expand support for youth monthly rent, jeonse loans, and youth rental housing."
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