The Cooperative Foundation Launches Vacant House Regeneration Project in Haenam-gun, Jeollanam-do... Total Investment of 850 Million KRW

Partnering with the Ministry of Agriculture and Emart
Launching the 'Nongchon Binjib Regeneration Project'
Remodeling 20 Vacant Houses Starting This Month

The Foundation for Cooperation between Large, Small and Medium Enterprises and Agriculture, Forestry and Fisheries (Cooperation Foundation) is partnering with the Ministry of Agriculture, Food and Rural Affairs to remodel vacant houses in rural areas into rental housing and village hotels.

On the 12th, the Cooperation Foundation signed a business agreement for the 'Public-Private Joint Rural Vacant House Regeneration Project' at the Ministry of Agriculture, Food and Rural Affairs Sejong Government Complex main conference room, together with E-Mart, the Ministry of Agriculture, Food and Rural Affairs, Jeollanam-do Province, and Haenam County.

Reference photo

The Rural Vacant House Regeneration Project is a public-private joint initiative where the government and private sector collaborate to reutilize vacant houses to create customized facilities needed in rural areas, such as rental housing for return-to-farm and return-to-village residents, revitalization of small schools, and village hotels.

The first project site is Haenam County, Jeollanam-do Province. A total of 850 million KRW will be invested, including 400 million KRW from the E-Mart Rural Coexistence Cooperation Fund (200 million KRW each from the Cooperation Foundation and E-Mart), and 450 million KRW from national and local government budgets. The Rural Coexistence Cooperation Fund is a private fund established to support projects that promote coexistence and cooperation among rural areas and farmers and fishermen.

Starting this month, 20 vacant houses will be remodeled to create rental housing for families transferring to Masan Elementary School, which is at risk of closure, and a village hotel linked to a rural experience and recreation village.

Cho Tae-yong, Head of the Rural Coexistence Fund Operations Division at the Cooperation Foundation, stated, "As population outflow from rural areas accelerates, the increasing number of vacant houses has become one of the serious social problems. Through this project, we hope to resolve the rural vacant house issue and transform them into sustainable rural residential spaces."

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