Jeonnam Development Corporation's "10,000 Won Housing in Gwangyang and Muan" Sees Record Competition Ratio of 154:1

236 Young People and Newlyweds Apply
Competition for Inter-Regional Movers Peaks at 19:1
Newlywed Category Records 8:1 Ratio

Jeonnam Development Corporation building.

On December 8, Jeonnam Development Corporation announced that a total of 236 people applied for the "10,000 Won Housing in City Areas (Gwangyang and Muan)" program, resulting in a maximum competition ratio of 154 to 1. With only 10 units available, the recruitment saw a surge of interest from young people within a short period, confirming strong demand.

Applications were accepted through the Government24 platform for five days, from November 24 to 28. This was followed by a supplementary document submission period from December 1 to 5.

By region, 187 applicants (79%) were from Gwangyang and 49 (21%) from Muan, with both areas seeing participation that far exceeded the available supply.

In Gwangyang, the competition ratio for the general youth supply reached 154 to 1. For priority supply, which is intended for policy consideration, the ratio was 8 to 1. Specifically, the ratios were 19 to 1 for youth planning to move from other cities or provinces, 4 to 1 for households with childbirth, and 2 to 1 for self-reliant youth. In the general supply category, youth applicants accounted for 95% of the total, highlighting the strong preference among young people. The newlywed couple category recorded a competition ratio of 8 to 1.

Muan also saw high interest. The competition ratio for the general youth supply was 37 to 1, while the priority supply category saw a ratio of 4 to 1. By detailed type, the ratios were 6 to 1 for youth planning to move from other cities or provinces and 5 to 1 for households with childbirth, indicating active participation from policy-priority groups.

Jeonnam Development Corporation plans to conduct eligibility verification through the Social Security Information System within this month, and will select the final residents through a public lottery in early January next year. Contract signing and move-in will be individually notified and are scheduled for January 2026.

President Jang Chungmo stated, "The 10,000 Won Housing in City Areas is the first cooperative residential welfare project by a local public corporation utilizing LH public rental vacancies, and the demand from young people has been confirmed." He added, "We will continue to do our best to help young people and newlywed couples settle stably in the region."

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