"To Serve as a Foundation for Young People's Future Planning"... Pohang Mayor Lee Gangdeok Inspects and Urges Staff at 'Thousand Won Housing' Application Site

September 16-17, City Hall: First Round Accepts 100 Applications
Hundreds Gather on Opening Day, Demonstrating High Interest
1,000 Won Per Day (30,000 Won Per Month) Rent
Program Expected to Attract Young People and Newlyweds

Pohang City began accepting applications for the first round of the "Thousand Won Housing" initiative on September 16 on the second floor of the city hall. This program aims to promote housing stability for young people and newlyweds.

The application period runs for two days until September 17. On the first day alone, hundreds of young applicants gathered at the site, demonstrating a high level of enthusiasm and nationwide interest.

Pohang City began the first round of applications for the "Thousand Won Housing" on the 16th at the second floor of the city hall. Photo by Pohang City

The "Thousand Won Housing" project involves Pohang City subleasing public rental housing purchased by the Korea Land and Housing Corporation (LH) to young people and newlyweds at a remarkably low rent of 1,000 won per day (30,000 won per month). A total of 100 units are being offered in this first round.

Eligible applicants are young people aged 19 to 45 and newlywed couples who do not own a home. The initial lease period is two years, with the possibility of extension up to four years. The city plans to expand the program to 500 units over the next five years. Detailed announcements can be found on the Pohang City website.

Lee Gangdeok, the mayor of Pohang, visited the site on this day to inspect the operation of the registration counters. He personally sat at the application booth, received application forms, and listened to the opinions of young applicants.

Mayor Lee urged the staff in charge of registration to "do their utmost to provide friendly guidance and thoroughly manage the procedures so that young people and newlyweds can apply without inconvenience."

Mayor Kangdeok Lee of Pohang inspects the registration site, personally receives registrations, and listens to applicants' opinions. Provided by Pohang City

Previously, the city confirmed that more than half of the residents in the "Youth Stepping Stone Housing" program were newcomers from other regions, demonstrating the program’s effectiveness in attracting new residents. Accordingly, the city expects the "Thousand Won Housing" project to also contribute to attracting younger generations and revitalizing the local economy.

Mayor Lee stated, "Thousand Won Housing serves as a starting point for young people and newlyweds to plan their futures with peace of mind. We will continue to innovate our housing welfare policies to provide a stable residential foundation for young people and newlyweds, creating a virtuous cycle that leads to job creation, marriage, and childbirth."

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