Daegu Urban Development Corporation Freezes Rent for 3,600 Rental Housing and Commercial Units
"Reducing Housing Cost Burden for Vulnerable Groups"
[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-seon] Daegu Urban Development Corporation (President Jeong Myeong-seop) announced on the 15th that it will freeze the rental deposits and rents of public rental housing and rental stores for one year starting from April.
This measure is aimed at alleviating the housing cost burden of vulnerable residents who are struggling due to the recent rapid rise in prices.
The applicable targets are about 3,600 households residing in housing and stores supplied by Daegu Urban Development Corporation, who are scheduled to renew or sign new contracts from April this year to March next year.
Since the outbreak of COVID-19 in March 2020, Daegu Urban Development Corporation has taken the lead in ensuring citizens' housing stability by supporting approximately 1.4 billion KRW through rent reductions for rental housing and rental stores.
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Jeong Myeong-seop, President of Daegu Urban Development Corporation, said, “We hope this rent freeze will provide a small help to residents suffering from the rapid rise in prices, and we will fulfill our role and responsibility as a public institution to realize housing stability for citizens.”
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