LH Begins Application for 400 Rental Housing Units for Youth Preparing for Independence

[Asia Economy Reporter Cha Wanyong] Korea Land and Housing Corporation (LH) announced on the 25th that it will begin accepting applications for 400 purchase rental housing units for self-reliant youth starting from the 26th.

Purchase rental housing for self-reliant youth is provided to support the independence of youth preparing for self-reliance who are leaving child welfare facilities.

The supplied housing units are youth purchase rental homes equipped with refrigerators, washing machines, air conditioners, etc., reflecting the needs of residents such as youth, and can be occupied for up to 6 years.

The rental conditions are about 40% of the nearby market price; all houses require a deposit of 1 million won, and rent varies depending on the housing unit.

Eligibility for application requires being a non-homeowner as of the application date and being a self-reliant youth who is scheduled to leave or has left a child welfare facility (including foster care) within the past 5 years according to Article 16 of the Child Welfare Act; there are no separate income or asset criteria.

Available housing units can be confirmed through prior consultation at any LH Residential Welfare Office nationwide regardless of current residence, and applications can be submitted by visiting the respective Residential Welfare Office. If there is no immediately available housing in the area, applicants can register as prospective tenants.

Ha Seungho, Head of LH National Housing Welfare Headquarters, stated, “We will strive to be a reliable support through continuous housing assistance so that self-reliant youth who must take their first steps into society early can settle as healthy members of society.”

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