"If You Turn Your Empty Home Space into a Parking Lot, We'll Give You 10 Million Won"

Seoul City Promotes Home Parking Lot Creation Project
Securing Space by Removing Fences and Utilizing Small Land Parcels
Significant Increase in Support Funds... Extending Support to Apartments

Seoul City will continue to promote the 'My Home Parking Lot' project this year. The initiative aims to alleviate parking difficulties in residential areas by utilizing idle spaces such as vacant home areas and leftover land. Starting this year, the subsidy for citizens who want to create parking spaces will be increased to 10 million KRW per parking spot.

On the 25th, Seoul City announced that it will proceed with the 2024 My Home Parking Lot project and recruit participating citizens. The project targets detached and multi-family houses where parking lots can be created by removing fences or gates, leftover land abandoned around residential areas, neighborhood living facilities that can share parking lots with nearby residents, and apartment complexes.

Since 2004 until 2023, Seoul City has created a total of 61,498 parking spaces through this method. Considering the low cost and short period required to create parking lots, this year the city aims to create 813 parking spaces to improve citizen convenience.

First, the subsidy for fence removal will be increased from 9 million KRW to 10 million KRW per parking space, and for leftover land from 2.4 million KRW to 3 million KRW per parking space. Support will also be provided for creating parking lots within apartments (multi-family housing). The subsidy will be increased from 700,000 KRW to 1 million KRW per parking space, and neighborhood living facilities that can share parking with residents or nearby neighbors are also eligible to apply.

Yoon Jong-jang, Director of the Urban Transportation Office of Seoul City, stated, "While it takes a long time and costs about 1.9 billion KRW per parking space to build a parking lot, the My Home Parking Lot project allows securing parking spaces at low cost and in a short period." He added, "Since efficient land use through idle spaces and improved citizen convenience are expected, we ask for citizens' participation."

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