GH to Supply Startup-Specialized Housing in Suwon Next Year...First in Korea

Gyeonggi Housing and Urban Development Corporation (GH) will be the first in the nation to supply the "Gyeonggi-do Startup-Specialized Housing," where profits are reinvested into youth startups, in Suwon.

On the 22nd, GH announced that it has selected the "Nanum & Mirae·MYSC Consortium" as the final operating organization for this project.

The startup-specialized housing is a complex residential model based on newly built, contract-type purchased rental housing supplied by GH, where a professional institution takes charge of rental operations and management to provide specialized startup support services.

This project site, located in Gwonseon-dong, Suwon, will consist of 210 rental housing units and 4 shared office spaces. Notably, in the officetel-type residential spaces, one unit per floor will be offered as a special type that can be used for both living and work. The project aims for completion in the first half of next year.

Perspective view of startup-specialized housing supplied in Suwon

The selected consortium will collaborate with GH to provide tailored startup support services, including tenant recruitment, rental operations, startup company assessment, mentoring, and investment support.

Once the startup-specialized housing is completed, residents will be able to enjoy one-stop access to living, work, and networking by utilizing the shared office spaces and community areas within the building. In particular, young startup founders living here will have a new residential and entrepreneurial experience, receiving startup mentoring at home and exchanging ideas with fellow entrepreneurs living in the same building.

Fifteen percent of the profits from rental and shared office operations will be reinvested into startup and residential services-a first in Korea. This will establish a virtuous policy cycle that simultaneously ensures residential stability, promotes entrepreneurial activity, and strengthens startup capabilities.

Lee Jongsun, acting president of GH, emphasized, "The core of this project is to support young entrepreneurs so they can focus on challenges without the burden of housing costs. In particular, institutionalizing the profit reinvestment structure is an institutional innovation that guarantees both sustainable startup support and residential stability."

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