713 Victims of Canceled Advance Subscriptions to Be Granted Priority Allocation and Recognized as Winners

Priority Allocation for Canceled Advance Subscription Winners
Relief Measures Announced for 713 Victims Across Seven Complexes
Follow-up Projects to Begin in 2025,
With Separate Units and Flexible Conditions for Affected Individuals

A pathway has been established to provide relief for 713 individuals (across seven apartment complexes) who won advance subscriptions for privately built apartments but lost their chance at homeownership after developers abandoned the projects. When a new developer builds and sells apartments on the same land, these victims of canceled advance subscriptions will be given priority allocation ahead of special supply recipients.

The Ministry of Land, Infrastructure and Transport announced this relief measure on January 22. Those whose subscriptions were canceled due to developers abandoning projects-often as a result of deteriorating business conditions-have not only lost their homes but also their eligibility for future subscriptions, resulting in significant hardship. This measure aims to minimize the damage they have suffered.

Going forward, individuals whose subscriptions were canceled will be given priority to purchase homes of the same or similar size. The eligibility requirements for subscription remain unchanged. However, some conditions will be applied more flexibly, such as only considering the number of homes owned at the time of the priority allocation announcement for the follow-up project, starting from the notification of cancellation.

The Ministry plans to cooperate with LH (Korea Land and Housing Corporation) to minimize project delays. LH will allocate separate units for those whose subscriptions were canceled and offer incentives to prevent project delays.

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The first follow-up projects will begin in the first quarter of 2025, and in key locations, those whose subscriptions were canceled will be given priority selection. In the first quarter of this year, new developers will be selected for four complexes-Hwaseong Dongtan 2, Yeongjong Sky City, and Paju Unjeong-through resale of the land. The Incheon Gajeong 2 District will be supplied through public sale in early 2026. In Yeongjong International City, some units will be allocated to those whose subscriptions were canceled within this year.

Kim Gyucheol, Director General for Housing and Land at the Ministry, stated, "It is thanks to the cooperation of those whose subscriptions were canceled, despite the many uncertainties such as potential price increases, further move-in delays, and changes in housing type or brand due to follow-up project delays. We will continue to communicate closely with affected individuals throughout the process and do our utmost to resolve their housing issues as quickly as possible."

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