Thousands of Foreign Luxury Cars Parked at Rental Housing for Low-Income Families... Full Investigation to Be Conducted

Restrictions on High-End Vehicle Ownership and Parking for Residents

Amid allegations that high-end vehicles have been parked in parking lots of Korea Land and Housing Corporation (LH) public rental housing intended for low-income households without homes, it has been reported that LH conducted a full survey of resident-registered vehicles.

According to multiple media reports on the 15th, LH is currently conducting a full survey of resident-registered vehicles through rental housing management offices nationwide. LH is said to regularly conduct full surveys of registered vehicles to restrict residents' ownership and parking of high-end vehicles.

This applies to residents of the "public rental housing" supplied by LH to ensure housing stability for low-income households without homes.

A photo of a luxury car parked at an LH public rental apartment posted by an online community user [Image source=BobaeDream capture]

To qualify for residence in this housing, applicants must meet specific income and asset criteria. Total assets, including real estate, financial assets, and automobiles, must be 361 million KRW or less, and the combined value of all vehicles owned by the household must be 36.83 million KRW or less.

However, the following are excluded from the combined total: △ vehicles registered for commercial use △ special two-wheeled vehicles such as vans and cargo vehicles △ non-commercial passenger vehicles for persons with disabilities △ prosthetic vehicles for national veterans with disability grades 1 to 7.

Recently, controversy arose as photos of parking lots in rental housing filled with expensive sports cars and foreign vehicles were posted on online communities, raising claims that these regulations are not being properly enforced.

In relation to this, a notice titled "High-Value Vehicle Registration Change Notice" was recently posted at an LH public rental housing complex. According to LH parking registration policies, vehicles valued over 36.83 million KRW will no longer be allowed to park within the apartment complex.

The notice, shared through online communities, states that the management office said, "There have been continuous complaints and issues regarding the parking of high-value vehicles within the rental housing," and that "a full survey of high-value vehicles registered in our apartment will be conducted in accordance with LH's registration and parking policies for high-value vehicles."

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