Public Housing 500,000 Units Brand Name Contest... 200 Winners Selected by Lottery

On the 13th, the Ministry of Land, Infrastructure and Transport announced that the brand name for the policy to supply 500,000 public sale housing units to young people and low-income households without homes over the next five years will be decided through a public proposal.

The policy for 500,000 public sale housing units, announced last month, aims to promote housing upgrades and stability by offering affordable sale prices compared to market prices and innovative exclusive mortgage support for selectable, sharing, and general types over the next five years.

The brand decided through the public proposal will not be an individual apartment brand but will be used as an integrated brand referring to the '500,000 Public Sale Housing Units Policy.'

The public proposal will be held for seven days from Friday, November 11 to Thursday, November 17, and anyone interested can participate through the Ministry of Land, Infrastructure and Transport website (see banner) and the Ministry’s 'Onttong Square.' A lottery will also be held to award prizes to 200 participants.

The brands proposed by the public will be reviewed by private experts and policy stakeholders and are expected to be finalized around the end of November.

Lee Jang-won, Director of Housing Supply Planning at the Ministry of Land, Infrastructure and Transport, said, "We hope the newly selected policy brand will be familiar and convey a positive image to policy beneficiaries such as young people and low-income households."

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