Yeosu City Receives Strong Response to "Deposit-Free" Youth Rental Housing

25 Tenants Selected Through Public Lottery... Competition Rate 18.3 to 1
Preliminary Briefing on the 30th, Move-in Scheduled by the 20th of Next Month

Yeosu-Type Rental Housing, Public Lottery. Provided by Yeosu City

Yeosu City in South Jeolla Province (Mayor Jeong Kimyung) announced on May 26 that it had finalized the selection of 25 tenants for the "Yeosu-Type Youth Rental Housing" through a public lottery held at the Culture Hall on May 22.

The "Yeosu-Type Youth Rental Housing Support Project" is an initiative that Yeosu City has been implementing since last year, providing rental housing?leased by the city under jeonse contracts?to young people and newlyweds without requiring a rental deposit.

This recruitment selected a total of 25 tenants: 1 for priority supply, 3 newlyweds, 5 prospective residents, and 16 Yeosu citizens. A total of 459 people applied, resulting in a competition rate of 18.3 to 1. In particular, the Yeosu citizen category, which had the largest number of available units, recorded the highest competition rate among all categories at 24.8 to 1.

To ensure transparency in the lottery process, the city conducted the drawing in person at the site, with police officers and auditors present as observers. Applicants themselves participated directly in both the drawing for unit numbers and the waiting list order, further enhancing fairness. The selected tenants are scheduled to complete move-in by June 20, following a preliminary briefing on May 30.

One winning citizen commented, "I didn't expect to be selected because the competition was so fierce, so I'm extremely happy. I plan to gradually save up seed money while living here and eventually announce my independence."

A city official stated, "Among the applicants, there was a young person who had been hesitant to get married because they couldn't secure housing, but was selected this time. We hope this project will serve as a stepping stone of hope not only for young people but also for newlyweds."

Meanwhile, through the "Yeosu-Type Youth Rental Housing Support Project," Yeosu City supplied 17 units last year and 25 units this year. The city plans to continue supplying a total of 200 units by 2028, focusing on improving the residential environment for young generations in the area.

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